SEC FORM 4 SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
Reinhardt Carsten J

(Last) (First) (Middle)
LA PIECE 16

(Street)
ROLLE V8 1180

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Garrett Motion Inc. [ GTX ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
04/30/2021
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 04/30/2021 D(1) 6,432 D $0.00 0 D
Common Stock 04/30/2021 A(2) 6,432 A $0.00 6,432 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction 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 (Month/Day/Year) 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: 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 04/30/2021 M(3) 6,432 03/19/2021 04/16/2021 Series A Preferred Stock 6,432 $0.00 0 D
Series A Cumulative Convertible Preferred Stock $0.00 04/30/2021 M(3) 6,432 (3) (3) Common Stock 6,432 $0.00 6,432 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.
/s/ Jerome Maironi, Attorney-in-Fact 05/04/2021
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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