Troy C. Schrenk - Mar 1, 2023 Form 4 Insider Report for Target Hospitality Corp. (TH)

Role
Chief Commercial Officer
Signature
/s/ Heidi D. Lewis, as Attorney-in-Fact on behalf of Troy C. Schrenk
Stock symbol
TH
Transactions as of
Mar 1, 2023
Transactions value $
$0
Form type
4
Date filed
3/3/2023, 03:32 PM
Previous filing
Feb 28, 2023
Next filing
Mar 7, 2023

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 Restricted Stock Units Award $0 +15.4K +10.9% $0.00 157K Mar 1, 2023 Common Stock 15.4K Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.
F2 On March 1, 2023, the Reporting Person was granted by the Compensation Committee 15,385 RSUs which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning March 1, 2024, subject to the terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and the Restricted Stock Unit Award Agreement entered into between Issuer and the Reporting Person.
F3 Total includes in addition to the grant of 15,385 RSUs on March 1, 2023, unvested RSUs from the following grants: 99,668 RSUs granted on February 24, 2022 which vest in four equal installments on each of the first four anniversaries of the grant date beginning February 24, 2023; 95,238 restricted stock units granted on February 25, 2021 which vest 50% on the second anniversary of the grant date and the remaining 50% on the third anniversary of the grant date; 21,414 restricted stock units granted on March 4, 2020 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning March 4, 2021 and 32,318 restricted stock units granted on May 21, 2019 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on May 21, 2020, subject to the terms and conditions of the Plan and the Restricted Stock Unit Award Agreements entered into between the Issuer and the Reporting Person.