Businessweek

The%20Board%20of%20Directors%20of%20Garmin%20Ltd.%20%28NasdaqGS%3AGRMN%29%20authorized%20a%20share%20repurchase%20program%20on%20February%2015%2C%202013.%20Under%20the%20program%2C%20the%20company%20will%20repurchase%20up%20to%20%24300%20million%20of%20its%20shares.%20The%20repurchases%20may%20be%20made%20at%20prevailing%20market%20prices%20on%20the%20open%20market%20or%20in%20negotiated%20transactions%20in%20compliance%20with%20the%20SEC%u2019s%20Rule%2010b-18%20from%20time%20to%20time.%20The%20company%20views%20the%20repurchase%20program%20as%20an%20appropriate%20use%20of%20cash.%20The%20timing%20and%20amounts%20of%20any%20repurchases%20will%20be%20determined%20by%20the%20Company%u2019s%20management%20depending%20on%20market%20conditions%20and%20other%20factors%20including%20price%2C%20regulatory%20requirements%20and%20capital%20availability.%20%20The%20program%20does%20not%20require%20the%20purchase%20of%20any%20minimum%20number%20of%20shares%20and%20may%20be%20suspended%20or%20discontinued%20at%20any%20time.%20The%20share%20repurchase%20program%20is%20valid%20until%20December%2031%2C%202014.%0D%0A%0D%0AOn%20March%2014%2C%202013%2C%20the%20company%20adopted%20a%20Rule%2010b5-1%20plan%20in%20connection%20with%20the%20share%20repurchase%20authorization.%20A%20plan%20under%20Rule%2010b5-1%20allows%20a%20company%20to%20repurchase%20its%20shares%20at%20times%20when%20it%20otherwise%20might%20be%20prevented%20from%20doing%20so%20under%20insider%20trading%20laws%20or%20because%20of%20self-imposed%20trading%20blackout%20periods.%20A%20broker%20selected%20by%20Garmin%20will%20have%20the%20authority%20under%20the%20terms%20and%20limitations%20specified%20in%20the%20plan%20to%20repurchase%20shares%20on%20the%20company%u2019s%20behalf%20in%20accordance%20with%20the%20terms%20of%20the%20plan.%20Because%20the%20repurchases%20under%20the%20plan%20are%20subject%20to%20certain%20pricing%20parameters%2C%20there%20is%20no%20guarantee%20as%20to%20the%20exact%20number%20of%20shares%20that%20will%20be%20repurchased%20under%20the%20plan%2C%20or%20that%20there%20will%20be%20any%20repurchases%20pursuant%20to%20the%20plan.%20As%20of%20March%2030%2C%202013%2C%20the%20company%20has%20made%20no%20repurchases.