James B. Archer - 04 Apr 2024 Form 4 Insider Report for Target Hospitality Corp. (TH)

Role: President, CEO, and Director, Director
Signature: /s/ Heidi D. Lewis, as Attorney-in-Fact on behalf of James B. Archer
Issuer symbol: TH
Transactions as of: 04 Apr 2024
Net transactions value: -$1,985,780
Form type: 4
Filing time: 05 Apr 2024, 16:30:16 UTC
Previous filing: 06 Mar 2024
Next filing: 26 Feb 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TH	Common Stock, par value $0.0001 per share	Options Exercise	$389,753	+217,739	+15%	$1.79^*	1,673,438	04 Apr 2024	Direct
transaction	TH	Common Stock, par value $0.0001 per share	Disposed to Issuer	$2,375,532	-217,739	-13%	$10.91	1,455,699	04 Apr 2024	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	TH	Stock Appreciation Rights	Options Exercise	$0	-217,739	-100%	$0.000000^*	0	04 Apr 2024	Common Stock	217,739	$1.79	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The Stock Appreciation Rights ("SARs"), reported on this Form 4, represent upon vesting the right to receive payment in cash or stock, at the Issuer's discretion, the amount of the increase from the grant date price and fair market value pursuant to the terms and conditions of the Target Hospitality Corp. 2019 Incentive Award Plan, as amended, and the SAR Award Agreement entered into between the Issuer and the Reporting Person as of February 25, 2021 (the "SAR Award Agreement"). The SARs vest 50% on the second anniversary of the grant date and the remaining 50% on the third anniversary of the grant date, subject to the terms and conditions of the Target Hospitality Corp. 2019 Incentive Award Plan, as amended and SAR Award Agreement.

Content

The Stock Appreciation Rights ("SARs"), reported on this Form 4, represent upon vesting the right to receive payment in cash or stock, at the Issuer's discretion, the amount of the increase from the grant date price and fair market value pursuant to the terms and conditions of the Target Hospitality Corp. 2019 Incentive Award Plan, as amended, and the SAR Award Agreement entered into between the Issuer and the Reporting Person as of February 25, 2021 (the "SAR Award Agreement"). The SARs vest 50% on the second anniversary of the grant date and the remaining 50% on the third anniversary of the grant date, subject to the terms and conditions of the Target Hospitality Corp. 2019 Incentive Award Plan, as amended and SAR Award Agreement.