Form 4: Garrett Motion Director Daun Norman Receives Significant RSU Grant

Garrett Motion Inc. Director Daun Norman was granted 13,417 restricted stock units, increasing her beneficial ownership to 87,186 shares, as part of the company's 2021 Long-term Incentive Plan.

Summary

• Director Daun Norman of Garrett Motion Inc. received a grant of 13,417 restricted stock units (RSUs) on May 22, 2025.
• This grant was made under the Garrett Motion Inc. 2021 Long-term Incentive Plan.
• Following this transaction, Ms. Norman's total beneficial ownership of Garrett Motion common stock increased to 87,186 shares.
• The RSUs are set to vest in full on the earlier of the one-year anniversary of the grant date or the next annual meeting of the Issuer's stockholders, contingent on Ms. Norman's continued service and certain separation conditions.

Sentiment

Score: 7

Explanation: The filing indicates a routine compensation event for a director, aligning interests with shareholders. It's a neutral to slightly positive event, reflecting standard corporate governance without significant new financial implications or risks.

Positives

• The grant of restricted stock units aligns the director's interests with those of shareholders, as the value of the compensation is tied to the company's stock performance.
• The increase in beneficial ownership demonstrates continued commitment from a key director.

Negatives

• The issuance of new restricted stock units can lead to a minor dilutive effect on existing shareholders, although the amount is relatively small in the context of total outstanding shares.

Risks

• The value of the restricted stock units is subject to the future performance of Garrett Motion Inc.'s common stock.
• Vesting of the RSUs is contingent on the reporting person's continued service, meaning the shares are not immediately owned outright.

Future Outlook

The granted restricted stock units are expected to vest on the earlier of May 22, 2026 (one-year anniversary of the grant date) or the date of the next annual meeting of Garrett Motion Inc. stockholders, subject to continued service.

Management Comments

• "Represents a grant of restricted stock units under the Garrett Motion Inc. 2021 Long-term Incentive Plan."
• "The restricted stock units vest in full on the earlier of the one-year anniversary of the grant date or the next annual meeting of the Issuer's stockholders, subject to the reporting person's continued service and in connection with certain separations from service."

Industry Context

This is a routine insider transaction filing (Form 4) and does not provide information relevant to broader industry trends or competitive landscape. It reflects standard corporate governance practices regarding executive and director compensation.

Corporate Governance

Related Party Transactions

• The grant of 13,417 restricted stock units to Director Daun Norman is a transaction between the company and a related party (an insider).

Stakeholder Impact

• Shareholders: The RSU grant aligns the director's interests with shareholders, potentially encouraging long-term value creation. There is a minor dilutive effect from the issuance of new shares upon vesting.
• Management: The Power of Attorney streamlines compliance for the director and the company's legal/finance team.

Next Steps

• The restricted stock units are expected to vest on the earlier of May 22, 2026, or the date of the next annual meeting of stockholders.

Key Dates

Recommendation

Keywords

Garrett Motion Inc., GTX, Form 4, SEC filing, restricted stock units, RSU grant, insider transaction, director compensation, beneficial ownership, long-term incentive plan