Garmin 2010 Annual Report Download - page 49

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39
understandings between the executive officers and any other person pursuant to which he or she was or is to be
selected as an officer. There is no family relationship among any of the executive officers. Dr. Min H. Kao is the
brother of Ruey-Jeg Kao, ho is a supeiso of Gai Copoatio, Gais Taia susidia, ho sees as
an ex-offiio ee of Gai Copoatios Boad of Directors.
PART II
Ite 5. Maket fo the Copay’s Coo Shaes, Related Shaeholde Mattes ad Issue Puhases of Euity
Securities
Gais oo shaes hae taded o the Nasda Natioal Maket ude the sol GRMN sie its
initial puli offeig o Deee ,  the IPO. As of Feua 17, 2011, there were 284 shareholders of
record.
The age of high ad lo losig sales pies of Gais oo shaes as epoted o the Nasda
Stock Market for each fiscal quarter of fiscal years 2010 and 2009 was as follows:
High Low High Low
First Quarter $39.94 $30.70 $23.48 $15.17
Second Quarter $39.14 $31.22 $25.99 $19.74
Third Quarter $31.60 $26.55 $37.23 $22.67
Fourth Quarter $34.00 $28.52 $39.58 $26.84
December 26, 2009
Year Ended
December 25, 2010
The Board of Directors declared a cash dividend of $1.50 per common share to shareholders of record on
April 15, 2010 which was paid on April 30, 2010. The Board of Directors declared a cash dividend of $0.75 per
common share to shareholders of record on December 1, 2009 which was paid on December 15, 2009. Garmin
currently expects to pay a cash dividend in 2011. The decision whether to pay a dividend and the amount of the
dividend will be oted o the Copas shaeholdes as euied  Siss la. The Boad of Dietos ill
make a recommendation lose to the paet date ased o the Copas ash alae, ash euieets
and cash flow generation.
The Board of Directors approved a share repurchase program on February 12, 2010, authorizing the
Copa to epuhase up to $ illio of the Copas shaes as aket ad usiess oditios aat.
This share repurchase authorization expires on December 31, 2011. No shares were repurchased under the plan
during the fourth quarter of 2010.
We efe ou to Ite  of this epot ude the aptio Euit Copesatio Pla Ifoatio fo
certain equity plan information required to be disclosed by Item 201(d) of Regulation S-K.
Stock Performance Graph
This perforae graph shall ot e deeed filed with the SEC or sujet to Setio 18 of the Seurities
Exchange Act of 1934, nor shall it be deemed incorporated by reference in any of our filings under the
Securities Act of 1933, as amended.
The following graph illustrates the cumulative total shareholder return (rounded to the nearest whole
dollar) of Garmin common shares during the period from December 31, 2005 through December 31, 2010, and
compares it to the cumulative total return on the NASDAQ Composite Index and the NASDAQ 100 Index. Garmin is
one of the constituent companies of the NASDAQ 100 Index. The comparison assumes a $100 investment on