Form 4: Cyrus Capital Partners Sells Garrett Motion Inc. Shares

Cyrus Capital Partners, a major shareholder of Garrett Motion Inc., has sold a portion of its common stock holdings in multiple transactions.

Summary

• Cyrus Capital Partners, L.P., along with related entities and Stephen C. Freidheim, sold shares of Garrett Motion Inc. (GTX) common stock on March 27 and March 28, 2024.
• On March 27, 2024, 250,000 shares were sold at a weighted average price of $10.0114 per share.
• On March 28, 2024, an additional 182,885 shares were sold at a weighted average price of $10.0193 per share.
• Following these transactions, Cyrus Capital Partners' indirect beneficial ownership of Garrett Motion Inc. common stock decreased to 27,834,399 shares.
• The sales were executed in multiple transactions with prices ranging from $10.00 to $10.04 on March 27 and $10.00 to $10.035 on March 28.
• Cyrus Capital Partners remains a 10% owner of Garrett Motion Inc.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating a sale of shares by a major shareholder. The sentiment is neutral as it simply reports a transaction.

Industry Context

This filing reflects the ongoing trading activity of a major shareholder in Garrett Motion Inc. Such transactions are common and can be driven by various factors, including portfolio rebalancing or investment strategy changes.

Stakeholder Impact

• The sale of shares by a major shareholder could potentially influence the short-term stock price of Garrett Motion Inc.
• However, the long-term impact is likely to be minimal unless it signals a significant change in the shareholder's outlook on the company.

Key Dates