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

Rhea-AI Filing Summary

Form 4 filing for Smart Sand, Inc. (SND) discloses routine insider share withholding for tax purposes.

• Reporting person: Robert Kiszka, Executive VP of Operations.
• Transaction date: 07/30/2025.
• Transaction code F: 5,034 common shares were withheld at $2.08 per share to satisfy taxes triggered by the vesting of a previously granted restricted-stock award.
• Post-transaction ownership: 530,648 shares held directly plus 448,738 shares held indirectly through an LLC that Kiszka fully controls, totaling 979,386 shares.
• No derivative activity reported in Table II.

The filing reflects an administrative, non-open-market reduction in shares and indicates the executive retains a sizable equity stake, maintaining alignment with shareholders. No information on earnings, guidance or other corporate events is included.

Positive

• Executive retains a significant 979,386-share stake, reflecting continued alignment with shareholder interests.

Negative

• 5,034 shares were removed from insider ownership (tax withholding), slightly reducing insider float.

Insights

Insider Transaction Analyst

TL;DR — Routine tax-withholding; negligible market impact, insider still holds ~1 M shares.

This Form 4 shows a standard F-code transaction: 5,034 shares forfeited to cover taxes upon vesting of restricted stock. Such events are automatic and do not signal a discretionary sale. Kiszka’s aggregate position—over 979 k shares—remains intact, underscoring continued insider exposure to SND’s equity performance. Given the small size (<1 % of his total holdings and immaterial relative to SND’s float) and absence of open-market selling, I classify the filing as neutral for valuation or sentiment.

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

KISZKA ROBERT

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Executive VP of Operations

3. Date of Earliest Transaction (Month/Day/Year)
07/30/2025

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	07/30/2025		F		5,034(1)	D	$2.08	530,648	D
Common Stock								448,738	I	BY LLC(2)

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. Represents shares withheld for tax purposes upon the vesting of restricted stock granted to the Reporting Person, the vesting of which is based on the Reporting Person's continued employment with or service to the Issuer on the applicable vesting date.

2. Held by a limited liability company ("LLC") of which the Reporting Person serves as the sole member with sole voting and investment control over the securities held thereby. The Reporting Person disclaims beneficial ownership of the securities held by the LLC except to the extent of his pecuniary interest therein.

Remarks:

	/s/ Lee E. Beckelman, as Attorney-in-Fact for Robert Kiszka	07/31/2025
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider activity did SND report on 07/30/2025?

Robert Kiszka had 5,034 shares withheld to pay taxes on vested restricted stock.

Did the Smart Sand executive sell shares on the open market?

No. Code F indicates shares were withheld by the company for taxes, not sold publicly.

How many SND shares does Robert Kiszka now own?

After the transaction he owns 530,648 shares directly and 448,738 indirectly, totaling 979,386.

Were any options or other derivatives exercised?

No derivative securities were acquired or disposed; Table II is empty.

Is this Form 4 likely to impact SND's stock price?

The transaction is routine and small relative to float, so market impact is expected to be minimal.