Heidi D. Lewis - 27 Feb 2026 Form 4 Insider Report for Target Hospitality Corp. (TH)

Role: EVP, General Counsel & Sec
Signature: /s/ Heidi D. Lewis
Issuer symbol: TH
Transactions as of: 27 Feb 2026
Net transactions value: -$29,329
Form type: 4
Filing time: 03 Mar 2026, 16:31:45 UTC
Previous filing: 26 Feb 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Lewis Heidi Diane	EVP, General Counsel & Sec	9320 LAKESIDE BLVD., STE 300, THE WOODLANDS	/s/ Heidi D. Lewis	03 Mar 2026	0001765471

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		+8,929	+6.3%		150,096	27 Feb 2026	Direct	F1
transaction	TH	Common Stock, par value $0.0001 per share	Tax liability	$16,935	-2,174	-1.4%	$7.79	147,922	27 Feb 2026	Direct	F2
transaction	TH	Common Stock, par value $0.0001 per share	Options Exercise		+4,615	+3.1%		152,537	01 Mar 2026	Direct	F1
transaction	TH	Common Stock, par value $0.0001 per share	Tax liability	$8,748	-1,123	-0.74%	$7.79	151,414	01 Mar 2026	Direct	F2
transaction	TH	Common Stock, par value $0.0001 per share	Options Exercise		+1,923	+1.3%		153,337	01 Mar 2026	Direct	F1
transaction	TH	Common Stock, par value $0.0001 per share	Tax liability	$3,646	-468	-0.31%	$7.79	152,869	01 Mar 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	Options Exercise	$0	-8,929	-11%	$0.000000	73,378	27 Feb 2026	Common Stock	8,929		Direct	F1, F3
transaction	TH	Restricted Stock Units	Options Exercise	$0	-4,615	-6.3%	$0.000000	68,763	01 Mar 2026	Common Stock	4,615		Direct	F1, F3
transaction	TH	Restricted Stock Units	Options Exercise	$0	-1,923	-2.8%	$0.000000	66,840	01 Mar 2026	Common Stock	1,923		Direct	F1, 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 ("RSU") or Performance-Based Restricted Stock Unit ("PSU") 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 8,929 RSUs on February 27, 2026 and 6,538 RSUs on March 1, 2026. Stock price reflects closing stock price as of February 27, 2026, the last trading day prior to vesting.
F3	Total includes unvested RSUs from the following grants: 28,902 RSUs granted on February 25, 2026 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning February 25, 2027; 35,714 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; 18,460 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 7,692 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 Target Hospitality Corp. 2019 Incentive Award Plan, as amended.