Key facts
- This page summarizes BAUPOST GROUP LLC/MA's Form 4 filing for Garrett Motion Inc. (GTX).
- 5 reported transactions and 1 derivative row are listed below.
- Accepted by SEC: 15 Jun 2023, 19:36.
BAUPOST GROUP LLC/MA - 13 Jun 2023 Form 4 Insider Report for Garrett Motion Inc. (GTX)
- Reporting relationship
- 10%+ Owner
- Issuer ticker
- GTX
- Reported as of
- 13 Jun 2023
- Net transaction value
- -$35,701,750
- SEC form
- 4
- Accepted by SEC
- 15 Jun 2023, 19:36:23 UTC
- Prior SEC filing
- 12 Jun 2023
- Next SEC filing
- 10 Aug 2023
- Source filing
- View source filing
- Reporting owner signature
- Seth A. Klarman
Source evidence
Original filing metadata and source links for verification.
5 source fields
Reporting owner
1 detail
Key filing fact
BAUPOST GROUP LLC/MA filed Form 4 for Garrett Motion Inc. (GTX) on 15 Jun 2023.
Change
- Previous filing in this sequence was filed on 12 Jun 2023.
- Current net transaction value: -$35,701,750.
Research use
- This tells you what this filing adds before you inspect full transaction and derivative tables.
- You can trace every row back to the original SEC filing document.
Evidence
Filed on Form 4
View source filing
Ownership activity is grounded in SEC Form 4 disclosures.
Reported non-derivative transactions
Shares, units, or other non-derivative securities reported in this filing.
GTX
transaction
Common Stock
Conversion of derivative security
- Transaction value
- Shares
- +25,462,810
- Change %
- +444%
- Price
- Shares after
- 31,195,589
- Date
- 13 Jun 2023
- Ownership
- See Footnotes
- Footnotes
- F1, F2, F3
GTX
transaction
Common Stock
Sale
- Transaction value
- $4,000,000
- Shares
- -500,000
- Change %
- -1.6%
- Price
- $8.00
- Shares after
- 30,695,589
- Date
- 13 Jun 2023
- Ownership
- See Footnotes
- Footnotes
- F1, F2
GTX
transaction
Common Stock
Sale
- Transaction value
- $23,963,000
- Shares
- -3,100,000
- Change %
- -10%
- Price
- $7.73
- Shares after
- 27,595,589
- Date
- 14 Jun 2023
- Ownership
- See Footnotes
- Footnotes
- F1, F2, F4
GTX
transaction
Common Stock
Sale
- Transaction value
- $7,738,750
- Shares
- -1,025,000
- Change %
- -3.7%
- Price
- $7.55
- Shares after
- 26,570,589
- Date
- 15 Jun 2023
- Ownership
- See Footnotes
- Footnotes
- F1, F2
Reported derivative securities
Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.
GTX
transaction
Derivative
Series A Cumulative Convertible Preferred Stock
Conversion of derivative security
- Transaction value
- Shares
- +25,462,810
- Change %
- Price
- Shares after
- 0
- Date
- 13 Jun 2023
- Ownership
- See Footnotes
- Underlying class
- Common Stock
- Underlying amount
- 28,120,589
- Exercise price
- Footnotes
- F1, F2, F3
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Section 16 status
BAUPOST GROUP LLC/MA is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.
Explanation of responses 4 footnotes
Footnote 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.
Footnote 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.
Footnote 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.
Footnote 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.