SEC Form 4 · accession 0001121788-17-000008
GARMIN LTD · GRMN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Patrick Desbois
Officer — EVP, Operations
Period of report
Feb 27, 2017
Accepted (ET)
Mar 1, 2017 · 11:48 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 | 6,198 | $0.00 | A | 27,966 | D | |
| Registered SharesF3,F4 | Feb 25, 2017 | F | 704 | $53.03 | D | 27,262 | D |
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 10,809 unvested shares acquired pursuant to previously granted restricted stock units awards and the 6,198 unvested shares acquired pursuant to the resticted stock units award described in Footnote 1.
- F32,067 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, 704 shares were withheld to pay a resulting tax liability.
- F4Includes 10,809 unvested shares acquired pursuant to previously granted restricted stock units awards and 4,131 remaining unvested shares acquired pursuant to the resticted stock units award described in Footnote 1.