SEC Form 4 · accession 0001127602-18-008642
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 25, 2018
Accepted (ET)
Feb 27, 2018 · 3:53 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, 2018 | A | 3,669 | $0.00 | A | 35,361 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Shares acquired pursuant to a restricted stock units award granted in February 2017 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 1,223 shares, were released to the reporting person on February 25, 2018, and the remaining 2,446 unvested shares vest in two equal annual installments.
- F2Includes 9,651 unvested shares acquired pursuant to previously granted restricted stock units awards and the 2,446 remaining unvested shares acquired pursuant to the restricted stock units award described in Footnote 1.