# EDGAR Filing Document

**Accession Number:** 0001121788
**File Stem:** 0001014108-23-000039
**Filing Date:** 2023-2
**Character Count:** 7779
**Document Hash:** ce66f320fe7fde9d4db1c54e371d3460
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001014108-23-000039.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001014108-23-000039

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230227

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** BURRELL JONATHAN
- **CENTRAL INDEX KEY:** 0001134084

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41118
- **FILM NUMBER:** 23679421

**MAIL ADDRESS:**
- **STREET 1:** 6300 WEST 143RD STREET
- **CITY:** OVERLAND PARK
- **STATE:** KS
- **ZIP:** 66223
**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>BURRELL JONATHAN<br><sub>(Last) (First) (Middle)</sub><br>6300 WEST 143RD STREET<br><sub>(Street)</sub><br>OVERLAND PARK, KS 66223<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-02-27 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [ ] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **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 |  |  |  |  |  |  |  | 6927<sup>(1)</sup> | D |  |
| Registered Shares |  |  |  |  |  |  |  | 30000 | I | By trust |
| Registered Shares | 2023-02-27 |  | G |  | 401800 | A | $0 | 893547 | I | By trust<sup>(2)</sup> |
| Registered Shares |  |  |  |  |  |  |  | 9055549 | I | By CLATs<sup>(3)</sup> |
| Registered Shares | 2023-02-27 |  | G |  | 401800 | D | $0 | 7533600 | I | By GRATs<sup>(4)</sup> |
| Registered Shares |  |  |  |  |  |  |  | 773834 | I | By trust<sup>(5)</sup> |
| Registered Shares |  |  |  |  |  |  |  | 394478 | I | By LLCs<sup>(6)</sup> |
| Registered Shares |  |  |  |  |  |  |  | 300000 | I | By GRATs<sup>(7)</sup> |

---

## 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) Consists of (a) 5,425 Registered Shares, and (b) unvested RSUs awarded to the reporting person under the Garmin Ltd. Non-Employee Directors' Equity Incentive Plan that can be settled only in Registered Shares, which RSUs consist of the RSUs granted on June 10, 2022 that vest as to 1,502 shares on June 10, 2023.

(2) The reporting person is a co-trustee of his mother's revocable trust and is his mother's attorney-in-fact, and also holds a remainder interest in the securities held in such trust. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

(3) The reporting person is a co-trustee of several charitable lead annuity trusts (CLATs) and holds a remainder interest therein. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

(4) The reporting person is a co-trustee of several grantor retained annuity trusts (GRATs) established by his mother, and he holds a remainder interest therein. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

(5) The reporting person is a co-trustee of a GRAT remainder trust established for his benefit.

(6) The reporting person is the manager of several limited liability companies that are wholly-owned by a GRAT remainder trust established for the reporting person's benefit.

(7) The reporting person is a co-trustee of multiple grantor retained annuity trusts (GRATs) established by him, and his children hold the remainder interests therein. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

**Signature:** /s/Jonathan C. Burrell  
**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.**