Jason P. Vlacich - Mar 3, 2023 Form 4 Insider Report for Target Hospitality Corp. (TH)

Signature
/s/ Heidi D. Lewis, as Attorney-in-Fact on behalf of Jason Vlacich
Stock symbol
TH
Transactions as of
Mar 3, 2023
Transactions value $
-$741,378
Form type
4
Date filed
3/7/2023, 03:42 PM
Previous filing
Mar 3, 2023
Next filing
Mar 22, 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 +5.35K +11.59% 51.6K Mar 4, 2023 Direct F1
transaction TH Common Stock, par value $0.0001 per share Tax liability -$19.6K -1.3K -2.53% $15.07 50.2K Mar 4, 2023 Direct F2
transaction TH Common Stock, par value $0.0001 per share Options Exercise $97.3K +54.3K +108.16% $1.79 105K Mar 3, 2023 Direct
transaction TH Common Stock, par value $0.0001 per share Disposed to Issuer -$819K -54.3K -51.96% $15.07 50.2K Mar 3, 2023 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 Restricted Stock Units Options Exercise $0 -5.35K -6.54% $0.00 76.5K Mar 4, 2023 Common Stock 5.35K Direct F1, F3
transaction TH Stock Appreciation Rights Options Exercise $0 -54.3K -50% $0.00 54.3K Mar 3, 2023 Common Stock 54.3K $1.79 Direct F4
* 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 Restricted stock units withheld for payment of tax liability upon vesting of 5,354 RSUs on 03/04/2023. Stock price reflects closing stock price as of March 3, 2023, the last business day prior to vest.
F3 Total includes unvested RSUs from the following grants: 7,692 RSUs granted on March 1, 2023 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on March 1, 2024; 49,834 RSUs granted on February 24, 2022 which vest in four equal installments on each of the first four anniversaries of the grant date beginning on February 24, 2023; 47,619 RSUs 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 RSUs granted on March 4, 2020 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on March 4, 2021; and 9,234 RSUs 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. Awards are subject to the terms of the respective RSU award agreements and subject to the Target Hospit
F4 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.