Garmin Ltd. Schedule 13G/A: Jonathan Burrell reports beneficial ownership of 9,355,009 Registered Shares, representing 4.85% of the class.
The filing states large portions of the reported shares are held in trusts and related entities: 4,269,752 shares in grantor retained annuity trusts established by his mother (over which he asserts sole voting and dispositive power), 322,000 in The Judith M. Burrell Revocable Trust (shared power), and other trusts and LLCs. The statement discloses his voting and dispositive breakdown and that 9,136 shares are directly owned.
Positive
None.
Negative
None.
Insights
Large trust-based stake with mixed direct control.
The filing shows 9,355,009 Registered Shares held across multiple trust structures and entities, with the reporting person claiming both sole and shared voting/dispositive powers. The filing lists exact voting splits: 7,440,709 sole voting power and 1,914,300 shared voting power.
Implications depend on how those trusts exercise rights; subsequent disclosures or Form 4s would clarify any active changes in voting or transfers. Timing and cash‑flow treatment are not detailed in this excerpt.
Ownership is concentrated in grantor/ remainder trusts and a revocable trust.
The statement describes multiple Grantor Retained Annuity Trusts (GRATs), a revocable trust, a revocable trust for the reporting person's mother, and LLCs wholly owned by a GRAT remainder trust. The filing attributes sole or shared voting/dispositive power for each bucket.
These structures commonly reflect estate planning; the filing notes which trusts benefit which parties but does not state any transfer or sale transactions. Further filings would be needed to track economic transfers or tax events.
Key Figures
Beneficial ownership:9,355,009 sharesPercent of class:4.85%Sole voting power:7,440,709 shares+3 more
6 metrics
Beneficial ownership9,355,009 sharestotal reported in Schedule 13G/A
Percent of class4.85%ownership percentage reported
Sole voting power7,440,709 sharesshares as to which reporting person has sole voting power
Shared voting power1,914,300 sharesshares as to which reporting person has shared voting power
Shares in mother's GRATs4,269,752 sharesheld in grantor retained annuity trusts established by his mother
Directly owned shares9,136 sharesowned directly by the reporting person; may include RSUs
"held in several Grantor Retained Annuity Trusts established by the reporting person's mother"
Revocable Trustlegal
"held by The Judith M. Burrell Revocable Trust, over which the reporting person shares voting and dispositive power"
A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.
Restricted Stock Units (RSUs)compensation
"may include restricted stock units ("RSUs") awarded under the Garmin Ltd. Non-Employee Directors' Equity Incentive Plan"
Restricted stock units (RSUs) are a type of company promise to give employees shares of stock in the future, usually after certain conditions like working for a set time. They are like a gift promised today that you receive later, which can become valuable if the company's stock price goes up. RSUs matter because they are a way companies reward employees and can be a significant part of compensation.
Beneficial ownershipregulatory
"Amount beneficially owned: 9,355,009"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
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What stake does Jonathan Burrell report in Garmin (GRMN)?
He reports beneficial ownership of 9,355,009 Registered Shares, equal to 4.85% of the class. The filing breaks ownership into trusts, a revocable trust, LLCs, and direct holdings and lists voting and dispositive power allocations.
How much of Burrell's Garmin stake is held in trusts?
The filing shows at least 4,269,752 shares in grantor retained annuity trusts established by his mother and 1,733,300 shares in GRATs he established, among other trust and LLC holdings. Each trust bucket includes the reported voting/dispositive power assignment.
Does Burrell have voting control over the reported Garmin shares?
The statement reports 7,440,709 shares as subject to his sole voting power and 1,914,300 shares as shared voting power. Specific trustee arrangements determine how those rights are exercised in practice.
Are any of the reported Garmin shares direct holdings or RSUs?
Yes. The filing discloses 9,136 Registered Shares owned directly by Burrell and notes that this direct number may include vested or imminently vesting RSUs under the Garmin Non-Employee Directors' Equity Incentive Plan.
Does this Schedule 13G/A indicate Burrell is selling Garmin shares?
No. The filing reports beneficial ownership and allocation of voting/dispositive power across trusts and entities. It does not disclose any sale, purchase, or proceeds; transaction activity is not stated in the provided excerpt.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 96)
Garmin Ltd.
(Name of Issuer)
Registered Shares
(Title of Class of Securities)
H2906T109
(CUSIP Number)
06/30/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
H2906T109
1
Names of Reporting Persons
BURRELL JONATHAN
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
7,440,709.00
6
Shared Voting Power
1,914,300.00
7
Sole Dispositive Power
7,440,709.00
8
Shared Dispositive Power
1,914,300.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
9,355,009.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
Address or principal business office or, if none, residence:
P.O. Box 507, Stillwell, KS 66085
(c)
Citizenship:
USA
(d)
Title of class of securities:
Registered Shares
(e)
CUSIP No.:
H2906T109
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
Amount beneficially owned: 9,355,009
4,269,752 of the 9,355,009 Registered Shares reported are held in several Grantor Retained Annuity Trusts established by the reporting person's mother, over which Registered Shares the reporting person has the sole voting and dispositive power.
322,000 of the 9,355,009 Registered Shares reported are held by The Judith M. Burrell Revocable Trust, over which Registered Shares the reporting person shares voting and dispositive power with his mother, Judith M. Burrell, for whom the reporting person is attorney-in-fact.
1,034,043 of the 9,355,009 Registered Shares reported are held in the reporting person's revocable trust, over which Registered Shares the reporting person has the sole voting and dispositive power.
1,592,300 of the 9,355,009 Registered Shares reported are held in a GRAT remainder trust established for the reporting person's benefit, over which Registered Shares the reporting person shares voting and dispositive power with a third party co-trustee.
394,478 of the 9,355,009 Registered Shares reported are held in one or more limited liability companies that are wholly-owned by a GRAT remainder trust established for the reporting person's benefit, over which Registered Shares the reporting person has the sole voting and dispositive power.
1,733,300 of the 9,355,009 Registered Shares reported are held in several Grantor Retained Annuity Trusts established by the reporting person, over which Registered Shares the reporting person has the sole voting and dispositive power.
9,136 of the 9,355,009 Registered Shares reported are owned by the reporting person directly, and may include restricted stock units ("RSUs") awarded to the reporting person under the Garmin Ltd. Non-Employee Directors' Equity Incentive Plan that can be settled only in Registered Shares (to the extent that such RSUs have vested or, within 60 days of the date of this Statement, will vest).
(b)
Percent of class:
4.85 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
7,440,709
(ii) Shared power to vote or to direct the vote:
1,914,300
(iii) Sole power to dispose or to direct the disposition of:
7,440,709
(iv) Shared power to dispose or to direct the disposition of:
1,914,300
Item 5.
Ownership of 5 Percent or Less of a Class.
Ownership of 5 percent or less of a class
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
4,269,752 of the 9,355,009 Registered Shares reported are held in several grantor retained annuity trusts established by the reporting person's mother, over which Registered Shares the reporting person has the sole voting and dispositive power. The grantor retained annuity trusts are for the benefit of the reporting person's mother during the two-year annuity period of the trusts, with any amounts remaining after distribution to the reporting person's mother being distributable to several remainder trusts for the benefit of certain descendants of the reporting person's parents.
322,000 of the 9,355,009 Registered Shares reported are held by The Judith M. Burrell Revocable Trust, over which Registered Shares the reporting person shares voting and dispositive power with his mother, Judith M. Burrell, for whom the reporting person is attorney-in-fact. The trust exists for the benefit of the reporting person's mother.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
