Form 4: Garrett Motion Inc. President & CEO Olivier Rabiller Reports Acquisition of Restricted Stock Units

Olivier Rabiller, President & CEO of Garrett Motion Inc., reports the acquisition of 198,091 restricted stock units on March 5, 2024, under the company's 2021 Long-term Incentive Plan.

Summary

• On March 5, 2024, Olivier Rabiller, the President & CEO of Garrett Motion Inc., acquired 198,091 shares of Common Stock.
• These shares were granted as restricted stock units under the company's 2021 Long-term Incentive Plan.
• The restricted stock units vest in three equal annual installments, starting on the first anniversary of the grant date, contingent upon Rabiller's continued service with the company.
• Following this transaction, Rabiller beneficially owns 1,057,544 shares.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The granting of restricted stock units is a common practice and signals confidence in the executive's continued contribution to the company's success.

Positives

• The grant of restricted stock units aligns the executive's interests with the long-term performance of the company.
• The vesting schedule incentivizes continued service and commitment from the President & CEO.

Risks

• The value of the restricted stock units is subject to the performance of Garrett Motion Inc.'s stock price.
• Failure to meet the continued service requirement would result in forfeiture of unvested restricted stock units.

Future Outlook

The document does not contain specific forward-looking statements, but the vesting schedule of the restricted stock units implies an expectation of continued service and contribution from the executive.

Industry Context

This type of equity compensation is common in publicly traded companies to align executive incentives with shareholder value and encourage long-term commitment.

Comparison to Industry Standards

• Granting restricted stock units is a standard practice among publicly traded companies to incentivize executives.
• The vesting schedule of three equal annual installments is also a common structure.
• Comparable companies in the automotive technology sector, such as BorgWarner or Aptiv, often utilize similar equity compensation plans.

Stakeholder Impact

• Shareholders may view the grant of restricted stock units positively, as it aligns management's interests with long-term shareholder value.
• Employees may see this as a positive sign of the company's commitment to its leadership.

Key Dates