Form 4: Garrett Motion Inc. Director Receives Deferred Stock Units

Director Daniel A. Ninivaggi received 4,496 deferred stock units of Garrett Motion Inc. on July 1, 2024, which vest immediately and are payable in common stock upon a change in control or cessation of service.

Summary

• Daniel A. Ninivaggi, a director of Garrett Motion Inc., reported a transaction on July 1, 2024.
• He acquired 4,496 shares of common stock in the form of deferred stock units.
• These units were granted under the company's 2021 Long-term Incentive Plan.
• The deferred stock units vest immediately upon grant.
• They are payable as common stock upon a change in control of the issuer or six months after the director's service on the Board ends.
• Following the transaction, Ninivaggi beneficially owns 100,187 shares of Garrett Motion Inc. common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard executive compensation practices and aligns director interests with company performance.

Positives

• The grant of deferred stock units aligns the director's interests with the long-term success of the company.
• Immediate vesting of the units provides an incentive for continued service.

Future Outlook

The deferred stock units will be payable as common stock upon a change in control of the issuer or six months after the director's service on the Board ends.

Industry Context

Form 4 filings are standard disclosures required by the SEC to provide transparency regarding the transactions of company insiders.

Stakeholder Impact

• The grant of deferred stock units aligns the director's interests with those of the shareholders.
• This can potentially lead to decisions that benefit the company's long-term value.

Key Dates