SEC Form 4 · accession 0001121788-17-000012
GARMIN LTD · GRMN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Pao-Chang Huang
Officer — General Manager - Garmin Corp.
Period of report
Feb 27, 2017
Accepted (ET)
Mar 1, 2017 · 3:33 pm 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 | 3,214 | $0.00 | A | 34,810 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Shares aquired pursuant to a February 2016 grant of 4,821 restricted stock units 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. One-third, or 1,607 shares, were released to the reporting person on February 25, 2017, and the remaining 3,214 unvested shares vest in two equal annual installments.
- F2Includes 8,518 unvested shares acquired pursuant to previously granted restricted stock unit awards and the 3,214 remaining unvested shares acquired pursuant to the restricted stock units award described above in Footnote 1.