GARMIN LTD 10-Q

Item 2. Unregistered Sales of Equi ty Securities and Use of Proceeds Issuer Purchases of Equity Securities Share repurchase activity during the 13-week period ended June 25, 2022, summarized on a trade-date basis, was as follows (in thousands, except per share amounts): Period Total Number of Shares Purchased (1) Average Price Paid Per Share (2) Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Approximate Dollar Value of Shares That May Yet Be Purchased Under the Program March 27, 2022 - April 23, 2022 — $ — — $ 300,000 April 24, 2022 - May 21, 2022 39 $ 101.07 39 $ 296,078 May 22, 2022 - June 25, 2022 269 $ 99.42 269 $ 269,354 Total 308 308 (1) The Board of Directors approved a share repurchase program on April 22, 2022 (the "Program"), authorizing the Company to purchase up to $300 million of its common shares as determined by management at its discretion. Share repurchases may be made in the open market or in privately negotiated transactions, including under plans complying with the provisions of Rule 10b5-1 and Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The timing and volume of share repurchases are subject to market conditions, business conditions and applicable laws, and are at management’s discretion. The Program does not require the purchase of any minimum number of shares and may be suspended or discontinued at any time. The share repurchase authorization expires on December 29, 2023. See Note 9 in Part I, Item 1 of this Quarterly Report for additional information related to share repurchases. (2) Average price paid per share includes costs associated with the repurchases. Item 3. Defaults Upo n Senior Securities None. Item 4. Mine Saf ety Disclosures Not applicable.