Garmin 2010 Annual Report Download - page 49
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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-Jeg Kao, ho is a supeiso of Gai Copoatio, Gais Taia susidia, ho sees as
an ex-offiio ee of Gai Copoatios Boad of Directors.
PART II
Ite 5. Maket fo the Copay’s Coo Shaes, Related Shaeholde Mattes ad Issue Puhases of Euity
Securities
Gais oo shaes hae taded o the Nasda Natioal Maket ude the sol GRMN sie its
initial puli offeig o Deee , the IPO. As of Feua 17, 2011, there were 284 shareholders of
record.
The age of high ad lo losig sales pies of Gais oo shaes as epoted 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 Copas shaeholdes as euied Siss la. The Boad of Dietos ill
make a recommendation lose to the paet date ased o the Copas ash alae, ash euieets
and cash flow generation.
The Board of Directors approved a share repurchase program on February 12, 2010, authorizing the
Copa to epuhase up to $ illio of the Copas shaes as aket ad usiess oditios aat.
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 epot ude the aptio Euit Copesatio Pla Ifoatio fo
certain equity plan information required to be disclosed by Item 201(d) of Regulation S-K.
Stock Performance Graph
This perforae graph shall ot e deeed filed with the SEC or sujet to Setio 18 of the Seurities
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