Garrett Motion director granted 1,848 deferred units
Drees Joachim reported acquisition or exercise transactions in this Form 4 filing.
Rhea-AI Filing Summary
Drees Joachim reported acquisition or exercise transactions in this Form 4 filing.
Garrett Motion Inc. director Joachim Drees received an equity-based compensation award in the form of 1,848 deferred stock units of common stock. These units were granted under the company’s 2021 Long-term Incentive Plan in lieu of cash compensation for his service as a non-employee director.
The deferred stock units vest immediately upon grant and will be settled in common stock either upon a defined Change in Control of Garrett Motion or six months after Drees ceases serving on the Board, whichever occurs first. Following this grant, he holds 40,736 shares of common stock directly.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 1,848 | $0.00 | $0.00 |
Footnotes (1)
- F1. Represents a grant of deferred stock units under the Garrett Motion Inc. 2021 Long-term Incentive Plan (the "Plan") in lieu of cash compensation for service as a non-employee director. The deferred stock units vest immediately upon grant and are payable as common stock on the earlier to occur of (i) a Change in Control of the Issuer (as defined in the Plan) or (ii) the six-month anniversary of the reporting person's cessation of service on the Board of Directors.
Key Figures
Key Terms
deferred stock units financial
2021 Long-term Incentive Plan financial
Change in Control financial
cessation of service financial
FAQ
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What insider transaction did Garrett Motion (GTX) director Joachim Drees report?
What are deferred stock units in Garrett Motion’s 2021 Long-term Incentive Plan?
When will Joachim Drees receive common stock for his Garrett Motion deferred stock units?
Was cash involved in the Garrett Motion (GTX) director equity grant reported on Form 4?
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