# EDGAR Filing Document

**Accession Number:** 0001121788
**File Stem:** 0001127602-23-007583
**Filing Date:** 2023-2
**Character Count:** 6973
**Document Hash:** 43d79ec6c6a00edc80c02e9117011c46
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001127602-23-007583.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001127602-23-007583

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230225

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** PEMBLE CLIFTON A
- **CENTRAL INDEX KEY:** 0001264835

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41118
- **FILM NUMBER:** 23687684
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GARMIN LTD
- **CENTRAL INDEX KEY:** 0001121788
- **STANDARD INDUSTRIAL CLASSIFICATION:** SEARCH, DETECTION, NAVIGATION, GUIDANCE, AERONAUTICAL SYS [3812]
- **IRS NUMBER:** 980229227
- **STATE OF INCORPORATION:** V8
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** MUHLENTALSTRASSE 2
- **CITY:** SCHAFFHAUSEN
- **STATE:** V8
- **ZIP:** CH-8200
- **BUSINESS PHONE:** 41 52 630 1600

**MAIL ADDRESS:**
- **STREET 1:** MUHLENTALSTRASSE 2
- **CITY:** SCHAFFHAUSEN
- **STATE:** V8
- **ZIP:** CH-8200

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>PEMBLE CLIFTON A<br><sub>(Last) (First) (Middle)</sub><br>1200 E. 151ST ST.<br><sub>(Street)</sub><br>OLATHE, KS 66062<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-02-25 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_President and CEO_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>GARMIN LTD [ GRMN ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Registered Shares | 2023-02-25 |  | F |  | 5754<sup>(1)</sup> | D | $98.30 | 127676<sup>(2)</sup> | D |  |
| Registered Shares | 2023-02-27 |  | S |  | 6127<sup>(3)</sup> | D | 98.4025<sup>(4)</sup> | 121549<sup>(2)</sup> | D |  |
| Registered Shares | 2023-02-27 |  | S |  | 1089<sup>(3)</sup> | D | 99.298<sup>(5)</sup> | 120460<sup>(2)</sup> | D |  |
| Registered Shares |  |  |  |  |  |  |  | 255 | I | By Child |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

---

### Footnotes:

(1) 12,970 shares that were acquired by the reporting person pursuant to previously granted restricted stock unit awards vested and were paid to the reporting person. Of these shares, 5,754 shares were withheld to pay a resulting tax liability.

(2) Includes (i) 38,064 unvested shares acquired pursuant to previously granted restricted stock unit awards and (ii) 72 shares acquired in December 2022 under the Garmin Ltd. Employee Stock Purchase Plan.

(3) Pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 4, 2022

(4) This transaction was executed in multiple trades at prices ranging from $98.04 to $98.995. 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.

(5) This transaction was executed in multiple trades at prices ranging from $99.04 to $99.46. 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.

**Signature:** /s/ Paul E. Cassat, Attorney-in-Fact  
**Date:** 2023-02-28

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**