SEC Form 4 · accession 0001121788-17-000005
GARMIN LTD · GRMN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Clifton A Pemble
Officer — President and CEO · Director
Period of report
Feb 27, 2017
Accepted (ET)
Mar 1, 2017 · 11:21 am EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001121788
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Registered SharesF1,F2 | Feb 25, 2017 | A | 17,901 | $0.00 | A | 128,982 | D | |
| Registered SharesF3,F4 | Feb 25, 2017 | F | 1,901 | $53.03 | D | 127,081 | D | |
| Registered Shares | holding | — | — | — | 505 | I | By Children |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Shares aquired pursuant to a restricted stock units award granted in February 2016 that had both performance-based and time-based vesting conditions. The performance-based vesting conditions have been satisfied, and now the award is subject only to time-based vesting conditions. The award vests in three equal annual installments beginning on February 25, 2017.
- F2Includes 33,422 unvested shares acquired pursuant to previously granted restricted stock units awards, the 17,901 unvested shares acquired pursuant to the resticted stock units award described in Footnote 1, and 206 shares acquired in December 2016 prusuant to the Employee Stock Purchase Plan.
- F35,967 shares that were aquired by the reporting person pursuant to the restricted stock units award described in Footnote (1) vested and were paid to the reporting person. Of those shares,1,901 shares were withheld to pay a resulting tax liability.
- F4Includes 33,422 unvested shares acquired pursuant to previously granted restricted stock units awards and 11,934 remaining unvested shares acquired pursuant to the resticted stock units award described in Footnote 1.