KELLEY GARY V 4
4 · GARMIN LTD · Filed May 11, 2011
Insider Transaction Report
Form 4
GARMIN LTDGRMN
KELLEY GARY V
Vice President - Marketing
Transactions
- Exercise/Conversion
Common Shares
2011-05-10$30.66/sh+6,400$196,224→ 13,492 total - Exercise/Conversion
Stock Appreciation Right
2011-05-10−6,400→ 0 totalExercise: $30.66Exp: 2015-12-16→ Common Shares (6,400 underlying) - Tax Payment
Common Shares
2011-05-10$35.27/sh−5,862$206,753→ 7,630 total
Footnotes (3)
- [F1]The number of Common Shares reported in Column 5 includes (a) 2,700 unvested shares acquired pursuant to an award of 4,500 restricted stock units in December 2008 (the award vests in five equal annual installments beginning in December 2009), (b) 1,536 unvested shares acquired pursuant to an award of 1,920 restricted stock units in December 2009 (the award vests in five euqal annual installments beginning in December 2010, (c) 1,665 shares that were acquired pursuant to the grant of restricted stock units in December 2010 (the award vests in five equal annual installments beginning in December 2011), and (d) 433 shares that were purchased for the reporting person's account in December 2010 as a participant in the Garmin Ltd. Employee Stock Purchase Plan.
- [F2]These shares were delivered or withheld as payment of the exercise price and tax liability related to the exercise of the Stock Appreciation Right dislosed in Table II of this Form 4.
- [F3]The stock appreciation right vested in five equal annual installments beginning on December 16, 2006.