Baupost Group Llc/Ma - Jun 8, 2023 Form 4 Insider Report for Garrett Motion Inc. (GTX)

Role
10%+ Owner
Signature
Seth A. Klarman
Stock symbol
GTX
Transactions as of
Jun 8, 2023
Transactions value $
-$4,100,000
Form type
4
Date filed
6/12/2023, 07:09 PM
Previous filing
Dec 14, 2021
Next filing
Jun 15, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GTX Common Stock Sale -$4.1M -500K -13.99% $8.20 3.08M Jun 8, 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 -17.5K -0.07% 25.5M Jun 8, 2023 Common Stock, par value$.001per share 17.5K 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.