Troy C. Schrenk - Feb 29, 2024 Form 4 Insider Report for Target Hospitality Corp. (TH)

Role: SEVP, Operations & CCO
Signature: /s/ Heidi D. Lewis, as Attorney-in-Fact on behalf of Troy C. Shrenk
Stock symbol: TH
Transactions as of: Feb 29, 2024
Transactions value $: -$8,986
Form type: 4
Date filed: 3/4/2024, 05:21 PM
Previous filing: Feb 27, 2024
Next filing: Mar 6, 2024

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		+3.85K	+4.46%		90K	Mar 1, 2024	Direct	F1
transaction	TH	Common Stock, par value $0.0001 per share	Tax liability	-$8.99K	-936	-1.04%	$9.60	89.1K	Mar 1, 2024	Direct	F2

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	+29K	+41.1%	$0.00	99.6K	Feb 29, 2024	Common Stock	29K		Direct	F1, F3, F4
transaction	TH	Restricted Stock Units	Options Exercise	$0	-3.85K	-3.86%	$0.00	95.7K	Mar 1, 2024	Common Stock	3.85K		Direct	F1, 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 3,847 RSUs on March 1, 2024. Stock price reflects closing stock price as of March 1, 2024.
F3	On February 29, 2024, the Reporting Person was granted by the Compensation Committee 29,008 restricted stock units which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning March 1, 2025, subject to the terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan, as amended (the "Plan") and the Restricted Stock Unit Award Agreement entered into between Issuer and the Reporting Person.
F4	Total includes, in addition to the grant of 29,008 RSUs on 02.29.2024, unvested RSUs from the following grants: 15,385 RSUs granted on March 1, 2023 which vest in four equal installments on each of the first four anniversaries of the grant date beginning on March 1, 2024; 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 on February 24, 2023; and 21,414 RSUs granted on March 4, 2020 which vest in four equal installments on each of the first four anniversaries of the grant date beginning on March 4, 2021. Awards are subject to the terms of the respective RSU award agreements and subject to the Plan.