Form 4: Garrett Motion Inc. Director Daun Norman Acquires Shares Through Stock Grant

Director Daun Norman acquired 15,927 shares of Garrett Motion Inc. common stock through a restricted stock unit grant on May 29, 2024.

Summary

• On May 29, 2024, Daun Norman, a director of Garrett Motion Inc., acquired 15,927 shares of common stock.
• The acquisition was a result of a grant of restricted stock units under the company's 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.
• Following the transaction, Norman directly owns 70,546 shares of Garrett Motion Inc. common stock.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction (stock grant) which is generally viewed neutrally to positively as it aligns director interests with shareholders. There are no indications of negative sentiment.

Positives

• The grant of restricted stock units aligns the director's interests with those of the shareholders.
• The vesting schedule incentivizes continued service and commitment to the company.

Future Outlook

The vesting of the restricted stock units is contingent upon the director's continued service, suggesting an ongoing commitment to the company.

Industry Context

This is a standard practice for aligning director incentives with company performance and shareholder value in publicly traded companies.

Comparison to Industry Standards

• Granting restricted stock units to directors is a common practice among publicly traded companies to align their interests with those of shareholders.
• Companies like BorgWarner and Cummins, which also operate in the automotive technology sector, often use similar equity-based compensation plans for their executives and directors.

Stakeholder Impact

• The stock grant aligns the director's interests with those of shareholders, potentially leading to decisions that benefit shareholder value.
• The vesting schedule incentivizes the director to remain with the company, providing stability and experience.

Key Dates