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

Rhea-AI Filing Summary

On 07/30/2025 Smart Sand, Inc. (SND) filed a Form 4 disclosing a routine insider transaction by Chief Financial Officer Lee E. Beckelman. The filing shows that 6,454 common shares were withheld for tax purposes upon the vesting of previously granted restricted stock (transaction code F). The shares were valued at $2.08 each, implying a gross value of roughly $13k.

Importantly, this was not an open-market sale for discretionary purposes; it was an automatic share surrender to cover payroll taxes, a standard administrative action that does not typically signal insider sentiment. After the withholding, the CFO continues to own 751,148 shares directly, maintaining a sizeable stake and suggesting ongoing alignment with shareholder interests. No derivative securities were reported in the filing.

The small size of the transaction relative to both the CFO’s total holdings and Smart Sand’s float indicates limited market impact. Investors generally view tax-related withholdings as neutral events.

Insights

Securities Analyst

TL;DR: Routine tax withholding of 6,454 shares; CFO still holds 751k shares, so insider alignment unchanged—neutral impact on SND.

The Form 4 documents a code F transaction, meaning the shares were surrendered solely to satisfy withholding obligations tied to restricted-stock vesting. Such transactions are automatic and do not reflect discretionary buying or selling. The CFO’s post-transaction stake (751,148 shares) represents the vast majority of his position, underscoring continued exposure to the company’s equity performance. No option exercises, purchases, or open-market sales were recorded, and no derivatives are outstanding under his name. Given the immaterial share count (≈ 0.02 % of common stock) and administrative nature, I assign a neutral rating for market impact.

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
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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^*

Beckelman Lee E

(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)
	Chief Financial Officer

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		6,454(1)	D	$2.08	751,148	D

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.

Remarks:

	/s/ Lee E. Beckelman	07/31/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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