SCHEDULE: Cyrus Capital Reduces Garrett Motion Stake to 7.3%

Cyrus Capital Partners and affiliates have significantly reduced their beneficial ownership in Garrett Motion Inc. through a series of open market sales.

Summary

• Cyrus Capital Partners, L.P., Cyrus Capital Partners GP, L.L.C., and Stephen C. Freidheim now beneficially own 14,104,901 shares of Garrett Motion Inc. common stock, representing 7.3% of the outstanding shares.
• Cyrus Capital Advisors, L.L.C. beneficially owns 9,142,779 shares, representing 4.7% of the outstanding shares.
• This filing is Amendment No. 5 to the Schedule 13D, updating previous disclosures regarding beneficial ownership.
• The percentages are calculated based on 194,482,518 shares of Common Stock outstanding as of October 17, 2025, as reported in the Company's Quarterly Report on Form 10-Q.
• Reporting Persons sold a total of 4,102,226 shares of Common Stock in open market transactions between October 16, 2025, and November 5, 2025.
• Transaction prices for the sales ranged from a weighted average of $12.4741 to $17.4314 per share, with price ranges between $12.2700 and $17.5400.

Sentiment

Score: 3

Explanation: The significant reduction in beneficial ownership by a major institutional investor, Cyrus Capital Partners, through substantial share sales, generally indicates a negative sentiment towards the company's near-term prospects or a strategic divestment. While the filing is purely factual, the action itself is typically viewed negatively by the market.

Negatives

• Reporting Persons, including Cyrus Capital Partners and Stephen C. Freidheim, sold a total of 4,102,226 shares of Garrett Motion Inc. common stock.
• The sales occurred over several dates from October 16, 2025, to November 5, 2025, indicating a sustained reduction in their position.
• The beneficial ownership of Cyrus Capital Partners, L.P., Cyrus Capital Partners GP, L.L.C., and Stephen C. Freidheim decreased to 7.3% of the outstanding shares.

Industry Context

This filing reflects a significant reduction in a major institutional investor's stake in Garrett Motion Inc., which could be interpreted by the market as a change in investment strategy or outlook by Cyrus Capital Partners regarding the company or the broader automotive technology sector. Such divestments by large holders can sometimes influence market perception and trading activity.

Stakeholder Impact

• Shareholders may react negatively to the news of a major institutional investor reducing its stake, potentially leading to downward pressure on the stock price.
• The reduction in institutional ownership could alter the company's shareholder base and influence future voting dynamics.

Key Dates

Recommendation

The substantial reduction in stake by a prominent institutional investor like Cyrus Capital Partners, involving the sale of over 4.1 million shares, often signals a lack of conviction in the company's future performance or a strategic shift. Such a move by a sophisticated investor can precede further downward pressure on the stock price, suggesting that a 'sell' recommendation is prudent for investors to consider mitigating potential losses or reallocating capital.

Keywords

Garrett Motion Inc., Cyrus Capital Partners, Schedule 13D/A, Beneficial Ownership, Share Sales, Institutional Investor, Equity Stake, Common Stock