Troy C. Schrenk - Aug 30, 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
Aug 30, 2023
Transactions value $
-$269,163
Form type
4
Date filed
9/1/2023, 05:06 PM
Previous filing
Aug 30, 2023
Next filing
Oct 5, 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 $268K +59.5K +577.85% $4.51 69.8K Aug 30, 2023 Direct F1
transaction TH Common Stock, par value $0.0001 per share Tax liability -$538K -33.6K -48.12% $16.00 36.2K Aug 30, 2023 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 Options (right to buy) Options Exercise $0 -59.5K -75% $0.00 19.8K Aug 30, 2023 Common Stock 59.5K $4.51 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Exercise pursuant to 10b5-1 plan entered into on January 6, 2023
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 "2020 Option Award Agreement"). The options reported int his footnote 2 vest in equal installments on each of the first four anniversaries of the grant beginning on March 4, 2021, subject to the terms and conditions of the plan and 2020 Option Award Agreement.