Baupost Group Llc/Ma - Dec 10, 2021 Form 4 Insider Report for Garrett Motion Inc. (GTX)

Role
10%+ Owner
Signature
Seth A. Klarman
Stock symbol
GTX
Transactions as of
Dec 10, 2021
Transactions value $
-$14,988,518
Form type
4
Date filed
12/14/2021, 04:30 PM
Previous filing
Sep 16, 2021
Next filing
Jun 12, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding GTX Common Stock 3.58M Dec 10, 2021 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 -$15M -1.83M -6.69% $8.20 25.5M Dec 10, 2021 Common Stock, par value $0.001 per share 1.83M 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 are convertible, at the holder's election, at the conversion rate (as defined in the Company's certificate of designation of Series A Preferred Stock), which initially is 1:1. The shares of Series A Preferred Stock have no expiration date.

Remarks:

The Reporting Persons are jointly filing this Form 4.