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    SEC Form SC 13G filed by Garmin Ltd.

    10/18/24 12:05:36 PM ET
    $GRMN
    Industrial Machinery/Components
    Industrials
    Get the next $GRMN alert in real time by email
    SC 13G 1 kao_13g_q3_2024.htm SC 13G SC 13G

     

    UNITED STATES

    SECURITIES AND EXCHANGE COMMISSION

    Washington, D.C. 20549

    SCHEDULE 13G

    Under the Securities Exchange Act of 1934

    (Amendment No. 18)*

    GARMIN LTD.

    (Name of Issuer)

    Registered Shares

    (Title of Class of Securities)

    H2906T 109

    (CUSIP Number)

    September 30, 2024

    (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)

    * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

    The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).


    SCHEDULE 13G

    CUSIP No. H2906T 109

    Page 2 of 7

     

    (1)

    Names of reporting persons

     

     Min H. Kao

    (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

     USA

    Number of

    (5)

    Sole voting power

     0

    shares

    beneficially

    owned by

    (6)

    Shared voting power

     18,698,500

    each

    reporting

    person

    (7)

    Sole dispositive power

    0

    with:

    (8)

    Shared dispositive power

    18,698,500

    (9)

    Aggregate amount beneficially owned by each reporting person

    18,698,500

    (10)

    Check if the aggregate amount in Row (9) excludes certain shares (see instructions)

    ☐

    (11)

    Percent of class represented by amount in Row (9)

     9.73%

    (12)

    Type of reporting person (see instructions)

     IN


    SCHEDULE 13G

    CUSIP No. H2906T 109

    Page 3 of 7

     

    (1)

    Names of reporting persons

     

     Yu-Fan C. Kao

    (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

     USA

    Number of

    (5)

    Sole voting power

     0

    shares

    beneficially

    owned by

    (6)

    Shared voting power

     18,698,500

    each

    reporting

    person

    (7)

    Sole dispositive power

    0

    with:

    (8)

    Shared dispositive power

    18,698,500

    (9)

    Aggregate amount beneficially owned by each reporting person

    18,698,500

    (10)

    Check if the aggregate amount in Row (9) excludes certain shares (see instructions)

    ☐

    (11)

    Percent of class represented by amount in Row (9)

     9.73%

    (12)

    Type of reporting person (see instructions)

     IN


    SCHEDULE 13G

    CUSIP No. H2906T 109

    Page 4 of 7

     

    Item 1(a) Name of Issuer:

    Garmin Ltd.

    Item 1(b) Address of Issuer's Principal Executive Offices:

    Mühlentalstrasse 2, 8200 Schaffhausen, Switzerland

    Item 2(a) Name of Person Filing:

    (i) Min H. Kao

    (ii) Yu-Fan C. Kao

    Item 2(b) Address of Principal Business Office or, if none, Residence:

    1200 East 151st Street, Olathe, Kansas 66062 (for each person listed in 2(a)(i) and 2(a)(ii))

    Item 2(c) Citizenship:

    USA (for each person listed in 2(a)(i) and 2(a)(ii))

    Item 2(d) Title of Class of Securities:

    Registered Shares

    Item 2(e) CUSIP Number:

    H2906T 109

    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:

    Not Applicable (for each person listed in 2(a)(i) and 2(a)(ii))

    Item 4. Ownership

    (a) Amount beneficially owned:

                   Min H. Kao

                   Yu-Fan C. Kao

    18,698,500 (1)

    18,698,500 (2)

    (b) Percent of class:

                   Min H. Kao

                   Yu-Fan C. Kao

    9.73%

    9.73%

    (c) Number of shares as to which the person has:

     (i)

    sole power to vote or to direct the vote:

    Min H. Kao

    Yu-Fan C. Kao

    0

    0

     (ii)

    shared power to vote or to direct the vote:

    Min H. Kao

    Yu-Fan C. Kao

    18,698,500

    18,698,500

     (iii)

    sole power to dispose or to direct the disposition of:

    Min H. Kao

    Yu-Fan C. Kao

    0

    0

     (iv)

    shared power to dispose or to direct the disposition of:

    Min H. Kao

    Yu-Fan C. Kao

    18,698,500

    18,698,500

    ______________

    (1)
    Of the 18,698,500 Registered Shares:

    SCHEDULE 13G

    CUSIP No. H2906T 109

    Page 5 of 7

     

    a.
    6,254,081 Registered Shares are held by the M&F Trust dated October 17, 2019, for which Min H. Kao and Yu-Fan C. Kao are co-trustees and share voting and dispositive power with respect to those Registered Shares;
    b.
    11,998,019 Registered Shares are held by revocable trusts established by Jennifer Kao and Kenneth Kao, the children of Min H. Kao and Yu-Fan C. Kao, for which Min H. Kao and Yu-Fan C. Kao are co-trustees and together share voting and dispositive power with respect to those Registered Shares; and
    c.
    446,400 Registered Shares are held by the Kao Family Foundation, a charitable foundation of which Min H. Kao is president and director and in such capacity may be deemed to exercise shared voting and dispositive power over such Registered Shares. 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.
    (2)
    Of the 18,698,500 Registered Shares:
    a.
    6,254,081 Registered Shares are held by the M&F Trust dated October 17, 2019, for which Min H. Kao and Yu-Fan C. Kao are co-trustees and share voting and dispositive power with respect to those Registered Shares;
    b.
    11,998,019 Registered Shares are held by revocable trusts established by Jennifer Kao and Kenneth Kao, the children of Min H. Kao and Yu-Fan C. Kao, for which Min H. Kao and Yu-Fan C. Kao are co-trustees and together share voting and dispositive power with respect to those Registered Shares; and
    c.
    446,400 Registered Shares are held by the Kao Family Foundation, a charitable foundation of which Yu-Fan C. Kao is a director and in such capacity may be deemed to exercise shared voting and dispositive power over 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.

    Item 5. Ownership of Five Percent or Less of a Class

    If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following. ☐

    Item 6. Ownership of More than Five 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

    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. Certification

    Not Applicable


    SCHEDULE 13G

    CUSIP No. H2906T 109

    Page 6 of 7

     

    SIGNATURES

    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.

    Dated: October 18, 2024

    MIN H. KAO

    By: /s/ Min H. Kao

    Name: Min H. Kao

    YU-FAN C. KAO

    By: /s/ Yu-Fan C. Kao

    Name: Yu-Fan C. Kao

    Pursuant to the Joint Filing Agreement with respect to Schedule 13G attached hereto as Exhibit I, among Min H. Kao and Yu-Fan C. Kao, this statement on Schedule 13G is filed on behalf of each of them.


     


    SCHEDULE 13G

    CUSIP No. H2906T 109

    Page 7 of 7

     

    EXHIBIT I

    JOINT FILING AGREEMENT

    Each of the undersigned hereby agrees that the Schedule 13G filed herewith is filed jointly, pursuant to Rule 13d-1(k)(1) of the Securities Exchange Act of 1934, as amended, on behalf of each of them.

    Dated: October 18, 2024

    MIN H. KAO

    /s/ Min H. Kao

    Min H. Kao

    YU-FAN C. KAO

    /s/ Yu-Fan C. Kao

    Yu-Fan C. Kao


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