BAUPOST GROUP LLC/MA - 08 Jun 2023 Form 4 Insider Report for Garrett Motion Inc. (GTX)

Role: 10%+ Owner
Signature: Seth A. Klarman
Issuer symbol: GTX
Transactions as of: 08 Jun 2023
Net transactions value: -$4,100,000
Form type: 4
Filing time: 12 Jun 2023, 19:09:21 UTC
Previous filing: 14 Dec 2021
Next filing: 15 Jun 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	GTX	Common Stock	Sale	$4,100,000	-500,000	-14%	$8.20	3,075,000	08 Jun 2023	See Footnotes	F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	GTX	Series A Preferred Stock	Sale		-17,482	-0.07%		25,462,810	08 Jun 2023	Common Stock, par value$.001per share	17,482		See Footnotes	F1, F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
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	Shares of Series A Preferred Stock of Garrett Motion Inc. (the "Company") are convertible, at the holder's election, at the conversion rate (as defined in the Company's certificate of designation of Series A Convertible Preferred Stock), which initially is 1:1. The shares of Series A Preferred Stock have no expiration date.