Troy C. Schrenk - 27 Feb 2026 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. Schrenk
Issuer symbol: TH
Transactions as of: 27 Feb 2026
Net transactions value: -$44,325
Form type: 4
Filing time: 03 Mar 2026, 16:32:56 UTC
Previous filing: 26 Feb 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Schrenk Troy C.	SEVP, Operations & CCO	9320 LAKESIDE BLVD., STE 300, THE WOODLANDS	/s/ Heidi D. Lewis, as Attorney in Fact on behalf of Troy C. Schrenk	03 Mar 2026	0001763047

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		+12,277	+6.3%		205,680	27 Feb 2026	Direct	F1
transaction	TH	Common Stock, par value $0.0001 per share	Tax liability	$23,284	-2,989	-1.5%	$7.79	202,691	27 Feb 2026	Direct	F2
transaction	TH	Common Stock, par value $0.0001 per share	Options Exercise		+7,252	+3.6%		209,943	01 Mar 2026	Direct	F1
transaction	TH	Common Stock, par value $0.0001 per share	Tax liability	$13,749	-1,765	-0.84%	$7.79	208,178	01 Mar 2026	Direct	F2
transaction	TH	Common Stock, par value $0.0001 per share	Options Exercise		+3,846	+1.8%		212,789	01 Mar 2026	Direct	F1
transaction	TH	Common Stock, par value $0.0001 per share	Tax liability	$7,291	-936	-0.44%	$7.79	211,088	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	-12,277	-10%	$0.000000	106,018	27 Feb 2026	Common Stock	12,277		Direct	F1, F3
transaction	TH	Restricted Stock Units	Options Exercise	$0	-7,252	-6.8%	$0.000000	98,766	01 Mar 2026	Common Stock	7,252		Direct	F1, F3
transaction	TH	Restricted Stock Units	Options Exercise	$0	-3,846	-3.9%	$0.000000	94,920	01 Mar 2026	Common Stock	3,846		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 12,277 RSUs February 27, 2026 and 11,098 RSUs 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: 39,740 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; 49,107 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; 29,008 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 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. 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.