Form 4: Centerbridge Partners Reduce Stake in Garrett Motion Inc. (GTX)

Centerbridge Special Credit Partners and related entities report the sale of Garrett Motion Inc. shares, reducing their beneficial ownership.

Summary

• Centerbridge Special Credit Partners III-Flex, L.P. sold 351,721 shares of Garrett Motion Inc. (GTX) common stock at a price of $9.45 on March 5, 2025.
• Following this transaction, Centerbridge Special Credit Partners III-Flex, L.P. beneficially owns 23,716,915 shares indirectly.
• Centerbridge Credit Partners Master, L.P. sold 148,279 shares of Garrett Motion Inc. (GTX) common stock at a price of $9.45 on March 5, 2025.
• Following this transaction, Centerbridge Credit Partners Master, L.P. beneficially owns 9,949,894 shares indirectly.
• The reporting persons are jointly filing this Form 4, disclaiming beneficial ownership except to the extent of any proportionate pecuniary interest.

Sentiment

Score: 4

Explanation: The sentiment is neutral to slightly negative as a major shareholder is reducing their position, which could indicate a lack of confidence or a portfolio rebalancing strategy. It's a routine filing, but the reduction in stake warrants monitoring.

Negatives

• Centerbridge Partners reduced their stake in Garrett Motion Inc.

Risks

• Continued selling pressure from major shareholders like Centerbridge could negatively impact the stock price.

Management Comments

• The reporting persons expressly disclaim beneficial ownership of the shares held of record, except to the extent of any proportionate pecuniary interest therein.

Industry Context

This filing indicates a change in ownership structure for Garrett Motion Inc., which could be relevant to investors tracking institutional ownership and potential shifts in company strategy or control.

Comparison to Industry Standards

• Form 4 filings are standard practice for reporting changes in beneficial ownership by insiders, as mandated by the SEC.
• Similar filings are common for other publicly traded companies when major shareholders or insiders execute transactions.

Stakeholder Impact

• Shareholders may react to the news of Centerbridge reducing its stake.
• The company's management may need to address any concerns arising from this transaction.

Key Dates