UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
Garmin Ltd.
(Name of Issuer)
Common Shares
(Title of Class of Securities)
G37260 10 9
(CUSIP Number)
December 31, 2002
(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)
[X] 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 disclosures provided in a prior cover page.
The information required on 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).
CUSIP NO. G37260 10 9 Page 2 of 5 pages
1 Names of Reporting Persons
I.R.S. Identification Nos. of Above Persons (entities only) Gary L.
Burrell
2 Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [ ]
3 SEC Use Only
4 Citizenship or Place of Organization......................... USA
Number of 5 Sole Voting Power........................ 16,757,522
Shared
Beneficially 6 Shared Voting Power...................... -0-
Owned by
Each 7 Sole Dispositive Power................... 16,757,522
Reporting
Person 8 Shared Dispositive Power................. -0-
With
9 Aggregate Amount Beneficially Owned by Each Reporting Person... 17,189,304
10 Check if the Aggregate Amount in Row (9) Excludes Certain Shares....[ ]
11 Percent of Class Represented by Amount in Row (9)............ 15.9%
12 Type of Reporting Person..................................... IN
CUSIP No. G37260 10 9 Page 3 of 5 pages
Item 1(a) Name of Issuer: Garmin Ltd.
Item 1(b) Address of Issuer's Principal Executive Offices: 5th Floor,
Harbour Place, P.O. Box 30464 SMB, 103 South Church Street,
George Town, Grand Cayman, Cayman Islands
Item 2(a) Name of Person Filing: Gary L. Burrell
Item 2(b) Address of Principal Business Office or, if none, Residence:
1200 East 151st Street, Olathe, Kansas 66062
Item 2(c) Citizenship: USA
Item 2(d) Title of Class of Securities: Common Shares
Item 2(e) CUSIP Number: G37260 10 9
Item 3. If this statement is filed pursuant to ss. ss. 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 is 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 ss.
240.13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in accordance
with ss. 240.13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in accordance
with ss. 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);
CUSIP No. G37260 10 9 Page 4 of 5 pages
(j) [ ] Group, in accordance with ss. 240.13d-1(b)(1)(ii)(J).
[ X ] Not applicable.
Item 4. Ownership
(a) Amount beneficially owned: 17,189,304
Of the 17,189,304 Common Shares, 431,782
Common Shares are held by Judith M. Burrell,
the reporting person's wife, over which the
reporting person does not have any voting or
dispositive power. The reporting person disclaims
beneficial ownership of these shares owned
by his wife.
The amount of Common Shares reported excludes
2,124,207 Common Shares held by the Gary L. Burrell
2000 Grantor Retained Annuity Trust at December 31,
2002 and 2,124,207 Common Shares held by the Judith M.
Burrell 2000 Grantor Retained Annuity Trust at December
31, 2002. The reporting person does not have any voting
power or dispositive power over such shares and disclaims
beneficial ownership.
(b) Percent of class: 15.9%
(c) Number of shares as to which the person has:
(i) sole power to vote or to direct the vote: 16,757,522
(ii) shared power to vote or to direct the vote: -0-
(iii)sole power to dispose or to direct the
disposition of: 16,757,522
(iv) shared power to dispose or to direct the
disposition of: -0-
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
CUSIP No. G37260 10 9 Page 5 of 5 pages
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
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: January 20, 2003
By: /s/ Gary L. Burrell
Name: Gary L. Burrell