SEC Form 4 · accession 0001127602-19-008617
GARMIN LTD · GRMN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Patrick Desbois
Officer — EVP, Operations
Period of report
Feb 25, 2019
Accepted (ET)
Feb 27, 2019 · 12:05 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, 2019 | A | 7,104 | $0.00 | A | 38,298 | D | |
| Registered SharesF3,F4 | Feb 25, 2019 | F | 1,776 | $83.55 | D | 36,522 | 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 14,739 unvested shares acquired pursuant to previously granted restricted stock unit awards and the 7,104 unvested shares acquired pursuant to the restricted stock units award described in Footnote 1.
- F32,368 shares that were acquired by the reporting person pursuant to the restricted stock units award described in Footnote 1 and 3,593 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, 1,776 shares were withheld to pay a resulting tax liability.
- F4Includes 11,146 unvested shares acquired pursuant to previously granted restricted stock units awards and 4,736 remaining unvested shares acquired pursuant to the restricted stock units award described in Footnote 1.