Form 4: Garrett Motion Director Drees Boosts Stake with DSU Grant

Garrett Motion Inc. Director Joachim Drees received 2,365 deferred stock units as compensation, increasing his beneficial ownership to 37,018 shares.

Summary

• Joachim Drees, a Director at Garrett Motion Inc. (GTX), acquired 2,365 shares of common stock.
• The acquisition was a grant of deferred stock units (DSUs) under the Garrett Motion Inc. 2021 Long-term Incentive Plan.
• These DSUs were granted in lieu of cash compensation for his service as a non-employee director.
• The deferred stock units vested immediately upon grant.
• The DSUs are payable as common stock on the earlier of a Change in Control of the Issuer or the six-month anniversary of Drees' cessation of service on the Board of Directors.
• Following this transaction, Joachim Drees beneficially owns a total of 37,018 shares of Garrett Motion Inc. common stock.

Sentiment

Score: 7

Explanation: The grant of deferred stock units to a director is a positive indicator of alignment between management and shareholder interests, reflecting standard compensation practices. It does not, however, represent a significant change in the company's overall financial or operational outlook.

Positives

• Increased alignment of a director's interests with those of shareholders through equity compensation.
• The immediate vesting of deferred stock units provides a clear and immediate benefit to the director, potentially enhancing retention.

Future Outlook

The deferred stock units will be paid out as common stock upon the earlier of a Change in Control of Garrett Motion Inc. or six months after Joachim Drees ceases service on the Board of Directors.

Corporate Governance

Related Party Transactions

• Grant of deferred stock units to Director Joachim Drees as compensation for his service, representing a transaction between the company and a related party.

Stakeholder Impact

• Shareholders: Benefits from increased alignment of director interests with long-term company performance.
• Director (Joachim Drees): Receives equity-based compensation, linking personal wealth to company stock performance.

Next Steps

• Payout of deferred stock units as common stock upon a Change in Control or six months post-cessation of director service.

Key Dates

Keywords

Garrett Motion Inc., GTX, Joachim Drees, Director, Deferred Stock Units, DSU, Insider Transaction, Equity Compensation, Beneficial Ownership, Form 4