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 September 30, 2023, 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 July 2, 2023 - July 29, 2023 18 $ 104.85 18 $ 24,842 July 30, 2023 - August 26, 2023 26 $ 103.51 26 $ 22,161 August 27, 2023 - September 30, 2023 39 $ 104.12 39 $ 18,131 Total 83 83 (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, exclusive of the cost of any associated excise tax. 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, except for the cost of any associated excise tax. Item 3. Defaults Upo n Senior Securities None. Item 4. Mine Saf ety Disclosures Not applicable. 25