Garrett Motion redeems $212M Series B Preferred Stock early, triggering director change

Garrett Motion Inc.

Garrett Motion redeemed all remaining Series B Preferred Stock for $212M on June 28, 2022, using cash on hand.
Redemption caused Honeywell nominee Tina Pierce to resign from the board; she was immediately re-elected as a director.
CEO Olivier Rabiller cited strong cash flow and a deleveraging milestone despite volatile environment.
Company previously redeemed $211M in Q4 2021 and $197M in Q1 2022, eliminating all Series B shares.
Honeywell CEO Darius Adamczyk expressed pleasure with the early redemption and wished Garrett continued success.

item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Tina Pierce

Director

GTX · Garrett Motion Inc.

Effective: 2022-06-23
Filed: June 28, 2022, 7:59 PM ET

On June 23, 2022, the Board re-elected Ms. Pierce as a director of the Company effective immediately following the Deemed Resignation.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Tina Pierce was appointed as Director at Garrett Motion Inc..

Action: re-elected
Role: Director

Exact text from the filing

On June 23, 2022, the Board re-elected Ms. Pierce as a director of the Company effective immediately following the Deemed Resignation.

View on SEC.gov

Garrett Motion Inc. filing history →

Source: SEC EDGAR

accession 0000950142-22-002024

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.