Garrett Motion Inc. — Director's Dealing 2023

Jun 16, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Garrett Motion Inc. (GTX)
CIK: 0001735707
Period of Report: 2023-06-13

Reporting Person: BAUPOST GROUP LLC/MA (N/A)
Reporting Person: Baupost Group GP, L.L.C. (N/A)
Reporting Person: KLARMAN SETH A (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-06-13	Common Stock	C	25462810	—	Acquired	31195589	Indirect
2023-06-13	Common Stock	S	500000	$8	Disposed	30695589	Indirect
2023-06-14	Common Stock	S	3100000	$7.73	Disposed	27595589	Indirect
2023-06-15	Common Stock	S	1025000	$7.55	Disposed	26570589	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-06-13	Series A Cumulative Convertible Preferred Stock	$	C	25462810	Acquired		Common Stock (28120589)	Indirect

Footnotes

F1: This statement on Form 4 is being jointly filed by The Baupost Group, L.L.C. ("Baupost"), Baupost Group GP, L.L.C. ("Baupost GP"), and Seth A. Klarman ("Mr. Klarman") (collectively, the "Reporting Persons"). Baupost is a registered investment adviser. The principal business of Baupost is to act as an investment adviser to various private investment limited partnerships. Baupost GP, as the manager of Baupost, and Mr. Klarman, as the sole managing member of Baupost GP and a controlling person of Baupost, may be deemed to have beneficial ownership under Section 13 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), of the securities beneficially owned by Baupost. Securities reported on this Form 4 as being beneficially owned by Baupost were purchased on behalf of certain of such partnerships.

F2: (Continued from footnote 1) The Reporting Persons disclaim beneficial ownership of the securities indicated except to the extent of their pecuniary interest therein, and the reporting herein of such securities shall not be construed as an admission that the Reporting Persons are the beneficial owners thereof for purposes of Section 16 of the Exchange Act or for any other purpose.

F3: The common stock reported herein were issued following the automatic conversion of all outstanding the Series A Cumulative Convertible Preferred Stock of Garrett Motion Inc. (the "Conversion") in accordance with the Issuer's certificate of designations for the Series A Cumulative Convertible Preferred Stock.

F4: The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $7.71 to $7.87. The Reporting Person undertakes to provide the staff at the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.