Form 4: Garrett Motion Inc. Executive Fabrice Spenninck Reports Stock Transactions

Fabrice Spenninck, SVP & Chief Human Resources Officer of Garrett Motion Inc., reports the withholding of shares for tax liability and the grant of restricted stock units.

Summary

• On March 5, 2025, Fabrice Spenninck, SVP & Chief Human Resources Officer of Garrett Motion Inc., reported transactions involving the company's common stock.
• 4,660 shares were withheld by Garrett Motion Inc. to cover the tax liability incurred upon the partial vesting of restricted stock units granted on March 5, 2024, at a price of $9.35 per share.
• Spenninck was also granted 30,358 restricted stock units under the Garrett Motion 2021 Long-term Incentive Plan.
• These restricted stock units vest in three equal annual installments on the first, second, and third anniversary of the grant date, contingent upon continued service.
• Following these transactions, Spenninck beneficially owns 156,841 shares of Garrett Motion Inc. common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it reports standard executive compensation practices and stock transactions. There are no explicit positive or negative implications for the company's performance.

Positives

• The grant of restricted stock units aligns executive compensation with the long-term performance of Garrett Motion Inc.

Future Outlook

The restricted stock units vest in three equal annual installments, subject to continued service, indicating a multi-year incentive structure.

Industry Context

Executive stock transactions are a common practice in publicly traded companies to align management's interests with those of shareholders. Form 4 filings are a standard regulatory requirement for reporting such transactions.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units that vest over time, similar to the Garrett Motion plan.
• Companies like BorgWarner and Cummins also utilize equity-based compensation to incentivize their executives.

Stakeholder Impact

• Shareholders may view the grant of restricted stock units as a positive sign, aligning executive interests with long-term company performance.

Key Dates