SCHEDULE: Garmin Ltd. Beneficial Ownership Update

Min H. Kao and Yu-Fan C. Kao jointly report beneficial ownership of 18,667,740 shares of Garmin Ltd., representing 9.7% of the class.

Summary

• Min H. Kao and Yu-Fan C. Kao have filed an amended Schedule 13G, reporting their beneficial ownership of Garmin Ltd. Registered Shares.
• The total number of shares beneficially owned by each reporting person is 18,667,740, which constitutes 9.7% of the class of securities.
• This ownership is held through various trusts and a foundation, with Min H. Kao and Yu-Fan C. Kao sharing voting and dispositive power over these shares.
• The filing is an amendment to a previous filing, with the date of the event requiring this filing being June 30, 2026.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it is a routine disclosure of beneficial ownership and does not provide new operational or financial information about the company.

Positives

• The filing clarifies the beneficial ownership structure for a significant block of Garmin Ltd. shares.
• The reporting persons are individuals with a clear connection to the company's history, suggesting a stable, long-term ownership perspective.

Negatives

• The filing does not contain any negative financial or operational information about Garmin Ltd. itself, as it pertains to beneficial ownership reporting.

Risks

• While not explicitly stated as a risk in this filing, significant beneficial ownership by individuals or related entities can sometimes lead to concentrated decision-making power, which could be a governance consideration.
• The filing does not detail any specific risks related to the ownership structure itself.

Future Outlook

This filing is a disclosure of beneficial ownership and does not contain forward-looking statements or guidance regarding Garmin Ltd.'s future performance.

Management Comments

• Min H. Kao disclaims beneficial ownership of the Registered Shares held by the Kao Family Foundation and nothing herein shall be construed as an admission that Min H. Kao is the beneficial owner of such Registered Shares.
• Yu-Fan C. Kao disclaims beneficial ownership of the Registered Shares held by the Kao Family Foundation and nothing herein shall be construed as an admission that Yu-Fan C. Kao is the beneficial owner of such Registered Shares.

Industry Context

StockSavvy.ai notes that Schedule 13G filings are standard disclosures for significant beneficial ownership, indicating that Min H. Kao and Yu-Fan C. Kao maintain a substantial stake in Garmin Ltd., a prominent player in the GPS and wearable technology market.

Related Party Transactions

• The filing details ownership through trusts established by Jennifer Kao and Kenneth Kao (children of Min H. Kao and Yu-Fan C. Kao), and shares held by the Kao Family Foundation, indicating related party holdings.

Stakeholder Impact

• Shareholders: The filing confirms a substantial ownership stake by individuals closely associated with the company's history, which can be viewed as a sign of continued commitment.
• Management: The reporting persons, as significant beneficial owners, may have considerable influence on corporate governance and strategic decisions.
• Family Members: Trusts established for children and a foundation indicate a structured approach to wealth management and philanthropy.

Next Steps

• Continued monitoring of Garmin Ltd.'s performance and any future beneficial ownership filings.

Key Dates

Keywords

Garmin Ltd., Schedule 13G, Beneficial Ownership, Min H. Kao, Yu-Fan C. Kao, Registered Shares, SEC Filing, Investment, Trusts, Foundation