SEC Form 4 · accession 0001127602-19-008245
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 22, 2019
Accepted (ET)
Feb 26, 2019 · 6:59 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 22, 2019 | S | 1,500 | $83.5109 | D | 8,305 | D | |
| Registered SharesF3,F4 | Feb 25, 2019 | A | 1,776 | $0.00 | A | 10,081 | D | |
| Registered SharesF5,F6 | Feb 25, 2019 | F | 654 | $83.55 | D | 9,427 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1This transaction was executed in multiple trades at prices ranging from $83.476 to $83.536. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Garmin Ltd. or a security holder of Garmin Ltd. full information regarding the number of shares sold at each separate price within the range.
- F2Includes 3,648 unvested shares acquired pursuant to previously granted restricted stock unit awards.
- F3Shares acquired pursuant to a restricted stock units award granted in February 2018 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, 2019.
- F4Includes 3,648 unvested shares acquired pursuant to previously granted restricted stock unit awards and the 1,776 unvested shares acquired pursuant to the restricted stock units award described in Footnote 3.
- F5592 shares that were acquired by the reporting person pursuant to the restricted stock units award described in Footnote 3 and 797 shares that were acquired by the reporting person pursuant to other previously granted restricted stock unit awards vested and were paid to the reporting person. Of these shares, 654 shares were withheld to pay a resulting tax liability.
- F6Includes 2,851 unvested shares acquired pursuant to previously granted restricted stock units awards and 1,184 remaining unvested shares acquired pursuant to the restricted stock units award described in Footnote 3.