Tarmac Reports 3.58M Shares in Trupanion, an 8.3% Stake

Tarmac DLTFM Limited reports beneficial ownership of 3,575,538 shares of Trupanion, Inc. common stock, representing 8.3% of the outstanding class based on 42,994,675 shares outstanding as of July 31, 2025.

Rhea-AI Filing Summary

Tarmac DLTFM Limited reports beneficial ownership of 3,575,538 shares of Trupanion, Inc. common stock, representing 8.3% of the outstanding class based on 42,994,675 shares outstanding as of July 31, 2025. The filing states Tarmac holds sole voting and dispositive power over these shares and that the securities were not acquired to change or influence control of the company. The statement uses the Schedule 13G format and is signed by a director, indicating passive investor reporting rather than an active acquisition or control intent.

Positive

• Position reported as passive (Schedule 13G), implying no stated intent to seek control
• Holds sole voting and dispositive power over all 3,575,538 shares, ensuring clear record of authority

Negative

• Stake of 8.3% is large enough to be materially influential if the holder changes intent
• Filing does not disclose purchase dates or cost basis, limiting assessment of entry timing or realized gains/losses

Insights

Equity Ownership Analyst

Tarmac holds a material passive stake of 8.3% in Trupanion.

The reported 3,575,538 shares equal 8.3% based on 42,994,675 shares outstanding as of July 31, 2025, and the filer asserts sole voting and dispositive power for the full position.

This Schedule 13G/A classification and the certification that the stake is not held to influence control indicate a passive investor posture; monitor future filings for any reclassification to Schedule 13D or material changes in position that would signal active engagement.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What stake does Tarmac DLTFM Ltd hold in Trupanion (TRUP)?

Tarmac DLTFM Ltd beneficially owns 3,575,538 shares, representing 8.3% of common stock based on 42,994,675 shares outstanding as of July 31, 2025.

Does this Schedule 13G/A filing indicate Tarmac seeks control of Trupanion?

No. The filing is a Schedule 13G/A with a certification that the shares were not acquired to change or influence control, indicating a passive position.

What voting and disposition rights does Tarmac have over the shares?

The filer reports sole voting power and sole dispositive power over all 3,575,538 shares and 0 shared powers.

Who signed the filing and when was it signed?

The filing was signed by Patrick Lynch, Director, on 10/10/2025.

What share count was used to calculate the ownership percentage?

The percentage uses 42,994,675 shares outstanding as reported for the period ended June 30, 2025.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 10/10/2025 - 01:54 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

TRUPANION, INC.

(Name of Issuer)

Common Stock, $0.00001 par value per share

(Title of Class of Securities)

898202106

(CUSIP Number)

10/11/2023

(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)

SCHEDULE 13G

CUSIP No. 898202106

1

Names of Reporting Persons

Tarmac DLTFM Ltd

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

GUERNSEY

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 3,575,538.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 3,575,538.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,575,538.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.3 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: * Based on the 42,994,675 shares of Common Stock of the issuer (the "Common Stock") outstanding as of July 31, 2025, as reported in the issuer's Quarterly Report on Form 10-Q for the period ended June 30, 2025, filed with the Securities and Exchange Commission on August 7, 2025.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: TRUPANION, INC.
(b)	Address of issuer's principal executive offices: 6100 4th Avenue South, Suite 200, Seattle, Washington, 98108
Item 2.
(a)	Name of person filing: TARMAC DLTFM LIMITED
(b)	Address or principal business office or, if none, residence: La Vieille Cour La Plaiderie GY1 1WG St. Peter Port Guernsey
(c)	Citizenship: Guernsey
(d)	Title of class of securities: Common Stock, $0.00001 par value per share
(e)	CUSIP No.: 898202106
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: 3,575,538
(b)	Percent of class: 8.3 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 3,575,538
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 3,575,538
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
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.

Tarmac DLTFM Ltd

Signature:	/s/ Patrick Lynch
Name/Title:	Patrick Lynch/Director
Date:	10/10/2025