Garmin Co-Founder Min H. Kao Files Schedule 13G/A Disclosing 9.7% Stake

Beneficial Ownership Filing Summary

Filer Information:

• Reporting Persons: Min H. Kao and Yu-Fan C. Kao
• Issuer: Garmin Ltd (Ticker: GRMN / CIK: 0001121788)
• Form Type: Schedule 13G/A (Amendment No. 23)
• Event Date: September 30, 2026
• Filing Date: October 13, 2026

Ownership Breakdown:

• Aggregate Shares Beneficially Owned: 18,662,265 Registered Shares
• Percentage of Class: 9.68% (reported as 9.7% on cover sheet)
• Voting & Dispositive Power:
  • Sole Voting / Dispositive Power: 0
  • Shared Voting / Dispositive Power: 18,662,265

Holdings Distribution:

• 6,223,003 shares held by the M&F Trust dated October 17, 2019 (Min H. Kao and Yu-Fan C. Kao serve as co-trustees).
• 11,927,217 shares held by revocable trusts established by Jennifer Kao and Kenneth Kao (Min H. Kao and Yu-Fan C. Kao serve as co-trustees).
• 512,045 shares held by the Kao Family Foundation (Min H. Kao is president and director; Yu-Fan C. Kao is a director). Both disclaim beneficial ownership of these shares.

Market Assessment:

• This is a periodic Schedule 13G/A amendment reflecting trust and family foundation holdings. It indicates stable ownership by the co-founder and family trusts with minimal near-term market impact.