Form 4: Garrett Motion Inc. SVP & Chief Technology Officer Craig Balis Reports Changes in Beneficial Ownership

Craig Balis, SVP & Chief Technology Officer of Garrett Motion Inc., reports the acquisition of 43,045 shares of common stock and disposal of 206,082 shares on March 5, 2024, following a grant of restricted stock units.

Summary

• On March 5, 2024, Craig Balis, the SVP & Chief Technology Officer of Garrett Motion Inc., reported changes in beneficial ownership.
• Balis acquired 43,045 shares of common stock at $0, representing 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 on the anniversary of the grant date, contingent upon continued service.
• Balis also disposed of 206,082 shares.
• Following these transactions, Balis directly owns 206,082 shares of Garrett Motion Inc.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing changes in beneficial ownership. The acquisition of shares through restricted stock units is generally viewed neutrally, while the disposal of shares could raise concerns, but without further context, the overall sentiment is neutral.

Positives

• The grant of restricted stock units aligns the executive's interests with the long-term performance of the company.

Negatives

• The disposal of 206,082 shares by the reporting person could be interpreted negatively by the market.

Risks

• The vesting of restricted stock units is contingent upon the reporting person's continued service, creating a potential risk if the executive leaves the company before full vesting.

Future Outlook

The restricted stock units vest in three equal annual installments on the anniversary of the grant date, subject to continued service.

Industry Context

Form 4 filings are standard practice and provide transparency into the transactions of company insiders, which is crucial for maintaining market confidence and regulatory compliance.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units to align management's interests with shareholder value, a common practice among publicly traded companies.
• The vesting schedule of three equal annual installments is a typical structure for such grants, similar to those offered by companies like BorgWarner and Dana Incorporated.

Stakeholder Impact

• Shareholders may be interested in the transactions of company insiders as they can provide insights into management's confidence in the company's future prospects.

Key Dates