Statement of Changes in Beneficial Ownership (4)
May 04 2021 - 5:37PM
Edgar (US Regulatory)
FORM 4
[ ]
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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3235-0287
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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
*
Balis Craig |
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)
_____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) SVP & Chief Technology Officer |
(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) | | 24825 | D | $6.25 | 266532 | D | |
Common Stock | 4/30/2021 | | D(2) | | 188578 | D | $6.25 | 77954 | D | |
Common Stock | 4/30/2021 | | D(3) | | 77954 | D | $6.25 | 0 | 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 |
Explanation of Responses: |
(1) | Represents the disposition of 24,825 performance-based restricted stock units 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 disposition of 188,578 shares of common stock by operation of the Company's Plan, for which the reporting person elected to receive a cash payment of $6.25 per share from the Company in exchange for the cancellation of the shares. |
(3) | Represents the disposition of 77,954 time-based restricted stock units by operation of the Company's Plan. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
Balis Craig LA PIECE 16 ROLLE, V8 1180 |
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| SVP & Chief Technology Officer |
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Signatures
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Jerome Maironi, Attorney-in-Fact | | 5/4/2021 |
**Signature of Reporting Person | Date |
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