SEC Form 4 · accession 0001127602-19-008596
GARMIN LTD · GRMN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Andrew R Etkind
Officer — VP, General Counsel, Secretary
Period of report
Feb 25, 2019
Accepted (ET)
Feb 27, 2019 · 9:46 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, 2019 | A | 5,772 | $0.00 | A | 56,741 | D | |
| Registered SharesF3,F4 | Feb 25, 2019 | F | 1,909 | $83.55 | D | 54,832 | 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 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.
- F2Includes (i) 13,166 unvested shares acquired pursuant to previously granted restricted stock unit awards, (ii) the 5,772 unvested shares acquired pursuant to the restricted stock units award described in Footnote 1 and (iii) 60 shares acquired in December 2018 under the Garmin Ltd. Employee Stock Purchase Plan.
- F31,924 shares that were acquired by the reporting person pursuant to the restricted stock units award described in Footnote 1 and 3,354 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, 1,909 shares were withheld to pay a resulting tax liability.
- F4Includes 9,812 unvested shares acquired pursuant to previously granted restricted stock unit awards and 3,848 remaining unvested shares acquired pursuant to the restricted stock units award described in Footnote 1.