Form 4: Cyrus Capital Partners Sells 100,000 Shares of Garrett Motion Inc.

Cyrus Capital Partners, a significant shareholder of Garrett Motion Inc., disposed of 100,000 shares of common stock at a price of $9.85 per share on March 15, 2024.

Summary

• On March 15, 2024, Cyrus Capital Partners, L.P. sold 100,000 shares of Garrett Motion Inc. (GTX) common stock.
• The transaction was executed at a price of $9.85 per share.
• Following the transaction, Cyrus Capital Partners' beneficial ownership in Garrett Motion Inc. is 28,727,284 shares.
• The reporting entities include Cyrus Capital Partners, L.P., Cyrus Capital Partners GP, L.L.C., and Stephen C. Freidheim.
• The filing indicates that Cyrus Capital Partners is a 10% owner and Stephen C. Freidheim is a director of Garrett Motion Inc.

Sentiment

Score: 5

Explanation: The sentiment is neutral. It's a routine transaction disclosure. The sale of shares by a major shareholder could be viewed with slight concern, but without further context, it's difficult to assess the overall impact.

Negatives

• Cyrus Capital Partners reduced its stake in Garrett Motion Inc. by selling 100,000 shares, which could be interpreted negatively by the market.

Risks

• Continued selling pressure from major shareholders like Cyrus Capital Partners could negatively impact Garrett Motion Inc.'s stock price.
• The filing indicates that Cyrus Capital Partners disclaims beneficial ownership of any securities reported by any person except to the extent of his or its pecuniary interest therein, if any, which could suggest potential future sales.

Industry Context

Form 4 filings are a routine part of the regulatory landscape for publicly traded companies, providing transparency into the transactions of company insiders and major shareholders. This filing indicates a change in Cyrus Capital Partners' holdings in Garrett Motion Inc., which is relevant to investors monitoring ownership trends.

Stakeholder Impact

• Shareholders may react to the news of Cyrus Capital Partners selling shares, potentially impacting the stock price.
• The transaction could influence investor sentiment regarding Garrett Motion Inc.'s prospects.

Key Dates