Jonathan Burrell Reduces Stake in Garmin Ltd. Below 5% Threshold

On July 9, 2026, Jonathan Burrell filed a Schedule 13G/A with the SEC, reporting a decrease in his ownership of Garmin Ltd. (GRMN). As of the event date on June 30, 2026, Burrell beneficially owns 9,355,009 registered shares, representing 4.85% of the company. This is a reduction from his previous holding of 9,662,032 shares (5.02%), bringing his stake below the 5% reporting threshold. The shares are held across various entities: 4,269,752 shares in GRATs established by his mother, 322,000 shares in The Judith M. Burrell Revocable Trust (where he shares power as attorney-in-fact), 1,034,043 shares in his own revocable trust, and 1,733,300 shares in GRATs he established. Additionally, 1,592,300 shares are held in a remainder trust with a third-party co-trustee, and 394,478 shares are held via LLCs owned by a remainder trust. Burrell directly owns 9,136 shares, including certain RSUs. He holds sole voting and dispositive power over 7,440,709 shares and shared power over 1,914,300 shares. The filing indicates the securities were not acquired for the purpose of influencing control of the issuer.