[Form 4] Smart Sand, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Charles Edwin Young, CEO, Director and 10% owner of Smart Sand, Inc. (SND) reported multiple open-market purchases of the issuer's common stock in early September 2025. On 09/03/2025 he purchased 10,630 shares at a weighted-average price of $1.89; on 09/04/2025 he purchased 8,401 shares at $1.92; and on 09/05/2025 he purchased 20,000 shares at $1.91. Following these transactions, Mr. Young reports beneficial ownership of 1,477,628 shares directly. He also reports indirect beneficial ownership of 5,842,700 shares through Keystone Cranberry, LLC, of which he holds 67% membership interests and sole voting and investment power, while disclaiming beneficial ownership except to the extent of any pecuniary interest. The Form 4 is signed and dated 09/05/2025.

Insights

Corporate Governance Expert

TL;DR: Insider purchases and significant LLC-held stake show management has direct and indirect exposure to company equity.

The filing documents routine open-market purchases by the CEO and director across three days, increasing his reported direct holdings to 1,477,628 shares and confirming indirect control of 5,842,700 shares via Keystone Cranberry, LLC. The disclosure clarifies voting and investment power for the indirect position and includes customary disclaimers about pecuniary interest. These are standard Section 16 reporting items and provide transparency on insider positions; no further governance actions or changes are reported in this filing.

Securities Analyst

TL;DR: Small-sized purchases reported; filing quantifies exact holdings and purchase prices over three days.

The report lists three purchase transactions with weighted-average and per-share prices: 10,630 shares at $1.89 (weighted range $1.88–$1.89), 8,401 shares at $1.92, and 20,000 shares at $1.91. Post-transaction direct ownership is 1,477,628 shares. The filing includes an indirect block of 5,842,700 shares held by an LLC where the reporting person is majority member and sole manager. The disclosure supplies precise transaction dates, counts and prices needed for market and position tracking; it does not include any options, dispositions, or derivative activity.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a 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). See Instruction 10.

1. Name and Address of Reporting Person^*

YOUNG CHARLES EDWIN

(Last) (First) (Middle)

C/O SMART SAND, INC.

1000 FLORAL VALE BOULEVARD, SUITE 225

(Street)

YARDLEY PA 19067

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Smart Sand, Inc. [ SND ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	CEO

3. Date of Earliest Transaction (Month/Day/Year)
09/03/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/03/2025		P		10,630	A	$1.89(1)	1,449,227	D
Common Stock	09/04/2025		P		8,401	A	$1.92	1,457,628	D
Common Stock	09/05/2025		P		20,000	A	$1.91(2)	1,477,628	D
Common Stock								5,842,700	I	BY LLC(3)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.88 to $1.89, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.

2. These shares were purchased in multiple transactions at a price of $1.91. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding each share transaction.

3. Mr. Young holds 67% of the membership interests in Keystone Cranberry, LLC ("Keystone"), is the sole managing member and has sole voting and investment power over the shares held by Keystone. Mr. Young disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein, if any.

Remarks:

	/s/ Charles Edwin Young	09/05/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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