Form 4: Garrett Motion Inc. Executive Receives Stock Grant

Fabrice Spenninck, SVP & Chief Human Resources Officer of Garrett Motion Inc., reports acquisition of 31,065 shares of common stock through a restricted stock unit grant.

Summary

• Fabrice Spenninck, SVP & Chief Human Resources Officer of Garrett Motion Inc., filed a Form 4.
• The filing reports a transaction on March 5, 2024, where Spenninck acquired 31,065 shares of Garrett Motion Inc. common stock.
• These shares were acquired through a grant of restricted stock units under the company's 2021 Long-term Incentive Plan.
• The restricted stock units vest in three equal annual installments, contingent upon Spenninck's continued service.
• Following the reported transaction, Spenninck beneficially owns 141,301 shares of Garrett Motion Inc. common stock.

Sentiment

Score: 6

Explanation: The document is neutral in sentiment as it reports a standard executive compensation transaction. It doesn't indicate any significant positive or negative developments for the company.

Positives

• The grant of restricted stock units aligns the executive's interests with those of the shareholders.
• The vesting schedule encourages continued service and commitment from the executive.

Future Outlook

The restricted stock units vest in three equal annual installments on the first, second and third anniversary of the grant date, subject to the reporting person's continued service.

Industry Context

Form 4 filings are a routine part of executive compensation and are common across publicly traded companies. They provide transparency into the holdings and transactions of company insiders.

Comparison to Industry Standards

• Executive compensation packages often include a mix of salary, bonus, and equity-based awards like restricted stock units.
• Vesting schedules for restricted stock units are typically between 3 to 5 years, aligning with industry norms.
• Companies like BorgWarner and Cummins, which operate in similar industries, also utilize equity-based compensation to incentivize their executives.

Stakeholder Impact

• Shareholders may view the stock grant positively as it aligns executive interests with long-term company performance.
• Employees may see the grant as a sign of the company's commitment to its leadership team.

Key Dates