Statement of Changes in Beneficial Ownership (4)
May 04 2021 - 5:31PM
Edgar (US Regulatory)
FORM 4
[X]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
*
Reinhardt Carsten J |
2. Issuer Name and Ticker or Trading Symbol
Garrett Motion Inc.
[
GTX
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below)
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(Last)
(First)
(Middle)
LA PIECE 16 |
3. Date of Earliest Transaction
(MM/DD/YYYY)
4/30/2021 |
(Street)
ROLLE, V8 1180
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security (Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code (Instr. 8)
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4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Common Stock | 4/30/2021 | | D(1) | | 6432 | D | $0.00 | 0 | D | |
Common Stock | 4/30/2021 | | A(2) | | 6432 | A | $0.00 | 6432 | D | |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Trans. Date | 3A. Deemed Execution Date, if any | 4. Trans. Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) |
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Subscription Rights (right to buy) | $5.25 | 4/30/2021 | | M (3) | | | 6432 | 3/19/2021 | 4/16/2021 | Series A Preferred Stock | 6432 | $0.00 | 0 | D | |
Series A Cumulative Convertible Preferred Stock | $0.00 | 4/30/2021 | | M (3) | | 6432 | | (3) | (3) | Common Stock | 6432 | $0.00 | 6432 | D | |
Explanation of Responses: |
(1) | Represents the cancellation of 6,432 shares of common stock pursuant to Garrett Motion Inc.'s (the "Company's") chapter 11 plan of reorganization (the "Plan"). The Plan was confirmed by an order of the United States Bankruptcy Court for the Southern District of New York entered on April 26, 2021 and became effective on April 30, 2021. |
(2) | Represents the issuance of 6,432 shares of common stock to effect the reinstatement of the reporting person's cancelled shares of common stock pursuant to the Plan. |
(3) | Represents the acquisition of 6,432 shares of Series A Cumulative Convertible Preferred Stock ("Series A Preferred Stock") of the Company for $5.25 per share pursuant to the exercise of subscription rights representing the right to buy Series A Preferred Stock issued to the reporting person under the Plan. The Series A Preferred Stock is convertible into shares of the Company's common stock on a one-to-one basis on dates specified in the Certificate of Designation. The Series A Preferred Stock is perpetual and therefore has no expiration date. |
Remarks: The reporting person resigned as a director of Garrett Motion Inc. (the "Company") effective April 30, 2021. As a result, the reporting person is no longer subject to Section 16 in connection with his transactions in the securities of the Company and therefore will no longer report any such transactions on Form 4 and Form 5. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
Reinhardt Carsten J LA PIECE 16 ROLLE, V8 1180 | X |
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Signatures
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/s/ Jerome Maironi, Attorney-in-Fact | | 5/4/2021 |
**Signature of Reporting Person | Date |
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