UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:
3235-0287
Estimated average burden
hours per response:
0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
KAO MIN H
(Last)
(First)
(Middle)
1200 EAST 151ST ST.
(Street)
OLATHE
KS
66062
(City)
(State)
(Zip)
2. Issuer Name and Ticker or Trading Symbol GARMIN LTD [ GRMN]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
X
Director
X
10% Owner
X
Officer (give title below)
Other (specify below)
Executive Chairman
3. Date of Earliest Transaction (Month/Day/Year)
10/11/2019
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X
Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)
2. Transaction Date (Month/Day/Year)
2A. Deemed Execution Date, if any (Month/Day/Year)
3. Transaction Code (Instr. 8)
4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code
V
Amount
(A) or (D)
Price
Registered Shares
09/19/2019
G
V
135,000(1)
D
$0
1,644,429
D
Registered Shares
10/11/2019
S
15,482(2)
D
$87.2424(3)
14,128,685
I
By Children
Registered Shares
10/11/2019
S
9,105(2)
D
$87.6375(4)
14,119,580
I
By Children
Registered Shares
10/11/2019
S
46,446(2)
D
$87.2424(5)
14,073,134
I
By Children
Registered Shares
10/11/2019
S
27,314(2)
D
$87.6375(6)
14,045,820
I
By Children
Registered Shares
4,810,324
I
By Spouse(7)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)
2. Conversion or Exercise Price of Derivative Security
3. Transaction Date (Month/Day/Year)
3A. Deemed Execution Date, if any (Month/Day/Year)
4. Transaction Code (Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date (Month/Day/Year)
7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)
8. Price of Derivative Security (Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)
10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code
V
(A)
(D)
Date Exercisable
Expiration Date
Title
Amount or Number of Shares
Explanation of Responses:
1. Shares were gifted to a charitable organization.
2. Sale of shares pursuant to a Rule 10b5-1 trading plan adopted on June 12, 2019.
3. This transaction was executed in multiple trades at prices ranging from $86.520 to $87.515. 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.
4. This transaction was executed in multiple trades at prices ranging from $87.52 to $87.89. 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 $86.520 to $87.515. 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.
6. This transaction was executed in multiple trades at prices ranging from $87.52 to $87.89. 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.
7. The reporting person disclaims beneficial ownership of these shares, and the filing of this report is not an admission that the reporting person is the beneficial owner of these shares for purposes of Section 16 or for any other purpose.
By Andrew R. Etkind, Attorney-in-Fact
10/15/2019
** Signature of Reporting Person
Date
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.
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Disclaimer
Garmin Ltd. published this content on 15 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 October 2019 14:01:05 UTC
Garmin Ltd. is one of the world's leaders in designing, producing, and marketing satellite geopositioning systems (GPS). The activity is organized around two families of products:
- marine and land geopositioning systems: tracers and sensors, pocket assistants, automobile guidance systems, sporting equipment (equipped with detectors for speed, distance traveled, heart rate, etc.);
- aerial geopositioning equipment: high-frequency communication transmitters, aerial display products, digital transponders (for transmitting altitude and flight number, broadcast by towers and control radar systems), beacon receivers, audio panels, etc.
Net sales break down by area of activity between outdoor activities (32.5%), sports and fitness (25.7%), marine (17.5%), aviation (16.2%), and automotive (8.1%).
At the end of 2023, the group had 9 production sites located in the United States (3), Taiwan (3), China, the Netherlands, and Poland.
Net sales are distributed geographically as follows: Americas (50%), Europe/Middle East/Africa (34%) and Asia/Pacific (16%).