SEC Form 4 · accession 0001121788-17-000009
GARMIN LTD · GRMN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Sean Biddlecombe
Officer — Managing Director, EMEA
Period of report
Feb 27, 2017
Accepted (ET)
Mar 1, 2017 · 11:59 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 | 1,377 | $0.00 | A | 11,711 | D | |
| Restricted SharesF3,F4 | Feb 25, 2017 | F | 217 | $53.03 | D | 11,494 | 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 2,402 unvested shares acquired pursuant to previously granted restricted stock units awards and the 1,377 unvested shares acquired pursuant to the resticted stock units award described in Footnote 1.
- F3460 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, 217 shares were withheld to pay a resulting tax liability.
- F4Includes 2,402 unvested shares acquired pursuant to previously granted restricted stock units awards and 917 remaining unvested shares acquired pursuant to the resticted stock units award described in Footnote 1.