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Form 4: Cyrus Capital Disposes 1.305M Garrett Motion (GTX) Shares at ~$13.00

Filing Impact
(Very High)
Filing Sentiment
(Very Negative)
Form Type
4

Rhea-AI Filing Summary

Cyrus Capital Partners and related reporting persons disclosed sales of Garrett Motion Inc. (GTX) common stock on August 19-20, 2025. The filing reports disposition of 1,300,000 shares on 08/19/2025 at a weighted-average price of $13.00–$13.05 and 5,000 shares on 08/20/2025 at a weighted-average price of $13.25–$13.255. After these transactions the reporting persons beneficially owned 21,123,348 shares, held indirectly through investment funds and related entities. The filing identifies the reporting persons as Cyrus Capital Partners, L.P., Cyrus Capital Partners GP, L.L.C., and Stephen C. Freidheim, who is a director and the Chief Investment Officer of Cyrus Capital Partners. Footnotes clarify the holdings are through multiple Cyrus funds and that each reporting person disclaims beneficial ownership except to the extent of pecuniary interest.

Positive

  • Transparent disclosure of weighted-average sale prices and offer to provide per-trade breakouts on request
  • Continued substantial beneficial ownership post-sale (21,123,348 shares), indicating the reporting persons retain a large stake

Negative

  • Insider selling of 1,305,000 GTX shares on 08/19–08/20/2025, which may be viewed negatively by some investors
  • Sales by a 10% owner and director can raise governance or signaling concerns despite disclaimers

Insights

TL;DR: Large insider sales disclosed; beneficial ownership remains sizable, signaling liquidity-taking rather than full exit.

The Form 4 shows aggregate sales of 1,305,000 GTX shares across two dates at weighted-average prices in a narrow range around $13.00–$13.255. The sellers are an investment manager (Cyrus Capital Partners), its GP, and the CIO; ownership post-sale remains 21.1 million shares held indirectly by Cyrus-managed funds. For investors, this is a clear, transparent disclosure of realized selling by a significant holder but not a divestment of the entire position. The filing includes customary disclaimers limiting beneficial ownership except for pecuniary interest. Impact is informational and routine for large institutional managers managing fund liquidity.

TL;DR: Reporting complies with Section 16 disclosure; structure and footnotes detail indirect ownership and disclaimers.

The submission is properly signed by the GP and individual reporting person and contains footnotes explaining the indirect ownership structure through multiple Cyrus funds and the sole-member GP relationship. The weighted-average pricing disclosures and willingness to provide breakouts upon request align with Form 4 practices. From a governance perspective, filing formality and clarifying notes reduce ambiguity about who controls the securities, which supports regulatory transparency even as significant shares were sold.

Insider CYRUS CAPITAL PARTNERS, L.P., FREIDHEIM STEPHEN C, CYRUS CAPITAL PARTNERS GP, LLC
Role 10% Owner | 10% Owner | 10% Owner
Sold 1,305,000 shs ($16.97M)
Type Security Shares Price Value
Sale Common Stock 5,000 $13.2515 $66K
Sale Common Stock 1,300,000 $13.0014 $16.90M
Holdings After Transaction: Common Stock — 21,123,348 shares (Indirect, See footnotes)
Footnotes (1)
  1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $13.00 to $13.05, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission (the "SEC"), upon request, full information regarding the number of shares sold at each separate price within the range set forth herein. These securities of the Company are beneficially owned by (i) Cyrus Capital Partners, L.P. ("Cyrus Capital Partners"), as a result of being the investment manager of certain private investment funds that directly hold the securities, including Cyrus 1740 Master Fund, L.P., Canary SC Master Fund, L.P., Cyrus Opportunities Master Fund II, Ltd., Crescent 1, L.P., CRS Master Fund, L.P., Cyrus Select Opportunities Master Fund, Ltd., Cyrus Select Opportunities Master Fund II, L.P., Peterson Capital Investors LLC, and PJ A Capital LLC (the "Cyrus Funds"), (ii) Cyrus Capital Partners GP, L.L.C. ("Cyrus Capital GP"), as a result of being the sole general partner of Cyrus Capital Partners, and (iii) Stephen C. Freidheim, as a result of being the Chief Investment Officer of Cyrus Capital Partners and the sole member and manager of Cyrus Capital GP (collectively, the "Reporting Persons"). (Continued from footnote 2) Each of the Reporting Persons disclaims beneficial ownership of any securities reported by any person except to the extent of his or its pecuniary interest therein, if any. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $13.25 to $13.255, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
CYRUS CAPITAL PARTNERS, L.P.
(Last) (First) (Middle)
65 EAST 55 STREET
35TH FLOOR
(Street)
NEW YORK NY 10022
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Garrett Motion Inc. [ GTX ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
08/19/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 08/19/2025 S 1,300,000 D $13.0014(1) 21,128,348 I See footnotes(2)(3)
Common Stock 08/20/2025 S 5,000 D $13.2515(4) 21,123,348 I See footnotes(2)(3)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
1. Name and Address of Reporting Person*
CYRUS CAPITAL PARTNERS, L.P.
(Last) (First) (Middle)
65 EAST 55 STREET
35TH FLOOR
(Street)
NEW YORK NY 10022
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
FREIDHEIM STEPHEN C
(Last) (First) (Middle)
C/O CYRUS CAPITAL PARTNERS, L.P.
65 EAST 55TH STREET, 35TH FLOOR
(Street)
NEW YORK NY 10022
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
CYRUS CAPITAL PARTNERS GP, LLC
(Last) (First) (Middle)
65 EAST 55TH STREET, 35TH FLOOR
(Street)
NEW YORK NY 10022
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
Explanation of Responses:
1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $13.00 to $13.05, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission (the "SEC"), upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.
2. These securities of the Company are beneficially owned by (i) Cyrus Capital Partners, L.P. ("Cyrus Capital Partners"), as a result of being the investment manager of certain private investment funds that directly hold the securities, including Cyrus 1740 Master Fund, L.P., Canary SC Master Fund, L.P., Cyrus Opportunities Master Fund II, Ltd., Crescent 1, L.P., CRS Master Fund, L.P., Cyrus Select Opportunities Master Fund, Ltd., Cyrus Select Opportunities Master Fund II, L.P., Peterson Capital Investors LLC, and PJ A Capital LLC (the "Cyrus Funds"), (ii) Cyrus Capital Partners GP, L.L.C. ("Cyrus Capital GP"), as a result of being the sole general partner of Cyrus Capital Partners, and (iii) Stephen C. Freidheim, as a result of being the Chief Investment Officer of Cyrus Capital Partners and the sole member and manager of Cyrus Capital GP (collectively, the "Reporting Persons").
3. (Continued from footnote 2) Each of the Reporting Persons disclaims beneficial ownership of any securities reported by any person except to the extent of his or its pecuniary interest therein, if any.
4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $13.25 to $13.255, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.
Cyrus Capital Partners, L.P., By: Cyrus Capital Partners GP, L.L.C., its general partner, By: /s/ Stephen C. Freidheim, Stephen C. Freidheim, its Sole Member/Manager 08/21/2025
Cyrus Capital Partners GP, L.L.C., By: /s/ Stephen C. Freidheim, Stephen C. Freidheim, its Sole Member/Manager 08/21/2025
/s/ Stephen C. Freidheim 08/21/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions were reported for Garrett Motion (GTX)?

The Form 4 reports sales of a total of 1,305,000 GTX common shares on 08/19/2025 (1,300,000 shares) and 08/20/2025 (5,000 shares).

At what prices were the GTX shares sold in the Form 4?

The 08/19/2025 sales were at a weighted-average price of $13.00–$13.05; the 08/20/2025 sales were at a weighted-average price of $13.25–$13.255.

Who are the reporting persons on this Form 4 for GTX?

The reporting persons are Cyrus Capital Partners, L.P., Cyrus Capital Partners GP, L.L.C., and Stephen C. Freidheim (CIO and sole member/manager of the GP).

How many GTX shares do the reporting persons beneficially own after the transactions?

After the reported sales the reporting persons beneficially own 21,123,348 shares, held indirectly through Cyrus-managed funds and related entities.

Do the reporting persons claim direct beneficial ownership of all reported shares?

No. The footnotes state each reporting person disclaims beneficial ownership except to the extent of any pecuniary interest and that holdings are through multiple Cyrus funds.