Garrett Motion Reports Executive Changes & Compensation on Feb 9

TL;DR

**Garrett Motion just announced executive and compensation changes, watch for strategic shifts.**

AI Summary

Garrett Motion Inc. filed an 8-K on February 12, 2024, reporting that the earliest event occurred on February 9, 2024. This filing indicates changes related to the departure or election of directors or certain officers, as well as compensatory arrangements for certain officers. For investors, this matters because changes in leadership and executive compensation can signal shifts in company strategy, financial health, or governance, potentially impacting future stock performance.

Why It Matters

Changes in executive leadership and compensation can influence a company's strategic direction and operational efficiency, directly affecting its financial outlook and stock valuation.

Risk Assessment

Risk Level: medium — Changes in executive leadership can introduce uncertainty regarding future company performance and strategic direction, posing a moderate risk to investors.

Analyst Insight

A smart investor would monitor Garrett Motion Inc.'s subsequent filings and news releases for specific details regarding the executive changes and compensation structures to assess their potential impact on the company's future performance and strategic direction.

Key Players & Entities

• Garrett Motion Inc. (company) — the registrant filing the 8-K
• February 9, 2024 (date) — date of the earliest event reported
• February 12, 2024 (date) — date the 8-K was filed
• GTX (company) — trading symbol for Garrett Motion Inc.
• The Nasdaq Stock Market LLC (company) — exchange where Garrett Motion Inc. common stock is registered

Forward-Looking Statements

• Garrett Motion Inc. will provide more detailed information about the executive changes and compensatory arrangements in its next quarterly or annual report. (Garrett Motion Inc.) — high confidence, target: Q1 2024 Earnings Report
• The market will react to these executive changes based on the perceived impact of the new leadership on the company's strategic direction. (GTX stock price) — medium confidence, target: February 2024

FAQ

From the Filing

0001193125-24-031076.txt : 20240212 0001193125-24-031076.hdr.sgml : 20240212 20240212073701 ACCESSION NUMBER: 0001193125-24-031076 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 16 CONFORMED PERIOD OF REPORT: 20240209 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240212 DATE AS OF CHANGE: 20240212 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Garrett Motion Inc. CENTRAL INDEX KEY: 0001735707 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLE PARTS & ACCESSORIES [3714] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 824873189 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-38636 FILM NUMBER: 24617388 BUSINESS ADDRESS: STREET 1: LA PIECE 16 CITY: ROLLE STATE: V8 ZIP: 1180 BUSINESS PHONE: 41-21-695-3000 MAIL ADDRESS: STREET 1: LA PIECE 16 CITY: ROLLE STATE: V8 ZIP: 1180 FORMER COMPANY: FORMER CONFORMED NAME: Garrett Transportation Systems Inc. DATE OF NAME CHANGE: 20180327 8-K 1 d788175d8k.htm 8-K 8-K false 0001735707 0001735707 2024-02-09 2024-02-09     UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549     FORM 8-K     CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 9, 2024     GARRETT MOTION INC. (Exact name of Registrant as specified in its charter)       Delaware   1-38636   82-4873189 (State or other jurisdiction of incorporation)   (Commission File Number)   (I.R.S. Employer Identification Number)   La Pièce 16 Rolle , Switzerland   1180 (Address of Principal Executive Offices)   (Zip Code) + 41 21 695 30 00 (Registrant’s telephone number, including area code) Not Applicable (Former Name or Former Address, if Changed Since Last Report)     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common Stock, $0.001 par value per share   GTX   The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company  ☐ If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐       Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On February 9, 2024, the board of directors (the “Board”) of Garrett Motion Inc. (the “Company”) announced the appointment of Mr. Paul A. Camuti to the Board. Mr. Camuti brings to the Board over 30 years of experience in innovation and technology, with a significant focus on