---
schema_version: "secwatch.filing_event.v1"
accession: "0000950142-23-001677"
form_type: "8-K"
ticker: "GTX"
cik: "0001735707"
company_name: "Garrett Motion Inc."
filed_at: "2023-06-13T23:59:59+00:00"
generated_at: "2026-06-14T02:11:05.408290+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Garrett Motion converts Series A Preferred Stock to common, simplifies capital structure

## Summary
- Series A Preferred Stock converted to Common Stock effective June 12, 2023 after market close.
- Each preferred share converts to one common share; total common shares outstanding ~266 million.
- Elimination of 11% preferred dividend partially offset by $700M new debt from prior transactions.
- Accrued dividends paid: $0.144375 cash plus 0.104379 common shares per preferred share.
- Share repurchase authorization increased to $250 million.

## SEC filing metadata
- accession: 0000950142-23-001677
- form_type: 8-K
- ticker: GTX
- cik: 0001735707
- company_name: Garrett Motion Inc.
- filed_at: 2023-06-13T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1735707/000095014223001677/0000950142-23-001677-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1735707/000095014223001677/eh230369059_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950142-23-001677
- JSON: https://secwatch.observer/filing/0000950142-23-001677.json
- Plain text: https://secwatch.observer/filing/0000950142-23-001677.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.