Jason P. Vlacich - Dec 23, 2022 Form 4 Insider Report for Target Hospitality Corp. (TH)

Role: Chief Accounting Officer
Signature: /s/ Heidi D. Lewis, as Attorney-in-Fact on behalf of Jason Vlacich
Stock symbol: TH
Transactions as of: Dec 23, 2022
Transactions value $: -$329,400
Form type: 4
Date filed: 12/27/2022, 03:32 PM
Previous filing: Jul 13, 2022
Next filing: Jan 9, 2023

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	$135K	+30K	+155%	$4.51	49.4K	Dec 23, 2022	Direct
transaction	TH	Common Stock, par value $0.0001 per share	Sale	-$465K	-30K	-60.78%	$15.49	19.4K	Dec 23, 2022	Direct	F1

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	Employee Stock Option (right to buy)	Options Exercise	$0	-30K	-37.8%	$0.00	49.4K	Dec 23, 2022	Common Stock	30K	$4.51	Direct	F2

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

Explanation of Responses:

Id	Content
F1	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $15.27 to $15.62, inclusive. The Reporting Person undertakes to provide to Target Hospitality Corp., any security holder of Target Hospitality Corp., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 1 to this Form 4.
F2	The options reported in this footnote 2 represent the right upon vesting to buy shares of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), pursuant to the terms and conditions of the Target Hospitality Corp. 2019 Incentive Award Plan (as amended, the "Plan") and the Nonqualified Stock Option Award Agreement entered into between the Issuer and the Reporting Person as of March 4, 2020 (the "Option Award Agreement"). The options reported in this footnote 2 vest in equal installments on each of the first four anniversaries of the grant date beginning on March 4, 2021, subject to the terms and conditions of the Plan and Option Award Agreement.

Content

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $15.27 to $15.62, inclusive. The Reporting Person undertakes to provide to Target Hospitality Corp., any security holder of Target Hospitality Corp., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 1 to this Form 4.

The options reported in this footnote 2 represent the right upon vesting to buy shares of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), pursuant to the terms and conditions of the Target Hospitality Corp. 2019 Incentive Award Plan (as amended, the "Plan") and the Nonqualified Stock Option Award Agreement entered into between the Issuer and the Reporting Person as of March 4, 2020 (the "Option Award Agreement"). The options reported in this footnote 2 vest in equal installments on each of the first four anniversaries of the grant date beginning on March 4, 2021, subject to the terms and conditions of the Plan and Option Award Agreement.