Mark Schuck - 24 Feb 2026 Form 4 Insider Report for Target Hospitality Corp. (TH)

Role: SVP, Finance & IR
Signature: /s/ Heidi D. Lewis, as Attorney-in-Fact on behalf of Mark Schuck
Issuer symbol: TH
Transactions as of: 24 Feb 2026
Net transactions value: -$12,139
Form type: 4
Filing time: 26 Feb 2026, 16:37:45 UTC
Previous filing: 09 Apr 2025
Next filing: 03 Mar 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Schuck Mark	SVP, Finance & IR	9320 LAKESIDE BLVD., STE 300, THE WOODLANDS	/s/ Heidi D. Lewis, as Attorney-in-Fact on behalf of Mark Schuck	26 Feb 2026	0002063907

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		+7,475	+39%		26,497	24 Feb 2026	Direct	F1
transaction	TH	Common Stock, par value $0.0001 per share	Tax liability	$12,139	-1,820	-6.9%	$6.67	24,677	24 Feb 2026	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	+8,671	+34%	$0.000000	33,913	25 Feb 2026	Common Stock	8,671		Direct	F1, F3, F4
transaction	TH	Restricted Stock Units	Options Exercise	$0	-7,475	-22%	$0.000000	26,438	24 Feb 2026	Common Stock	7,475		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 ("RSU") 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 7,475 RSUs on February 24, 2026. Stock price reflects closing stock price as of February 24, 2026.
F3	On February 25, 2026, the Reporting Person was granted 8,671 RSUs which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning February 25, 2027, subject to the terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan, as amended (the "Plan") and the RSU agreement entered into between the Issuer and the Reporting Person.
F4	Total includes, in addition to 8,671 RSUs granted on February 25, 2026, unvested RSUs from the following grants: 10,714 RSUs granted on February 27, 2025 which vest in four annual installments on each of the first four anniversaries of the grant date beginning on February 27, 2026; 6,329 RSUs granted on February 29, 2024 which vest in four annual installments on each of the first four anniversaries of the grant date beginning on March 1, 2025; and 4,615 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. Awards are subject to the terms of the respective RSU award agreements and subject to the Plan, as amended.