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

Rhea-AI Filing Summary

Insider purchases totaling 50,000 shares were reported by Charles Edwin Young, Smart Sand, Inc. (SND) director, CEO and 10% owner. Between 08/15/2025 and 08/19/2025 Mr. Young purchased 29,592, 11,498 and 8,910 shares at weighted-average prices of $1.92, $1.87 and $1.96 respectively, representing aggregate purchases at prices around $1.9 per share. After these transactions Mr. Young directly beneficially owned 1,438,597 shares and, indirectly through Keystone Cranberry, LLC, beneficially owned 5,842,700 shares; he holds 67% of Keystone and is sole manager with voting and investment power over those LLC-held shares. The form is a Section 16 filing reporting routine insider purchases and disclosing ownership details.

Positive

• CEO/director purchased a total of 50,000 shares across three open-market transactions, signaling insider accumulation
• Detailed disclosure of direct and indirect holdings, including post-transaction direct ownership of 1,438,597 shares and indirect ownership of 5,842,700 shares via Keystone Cranberry, LLC
• Weighted-average prices disclosed with range footnotes, and the filing includes an explicit signature and standard certifications

Negative

• None.

Insights

Financial Analyst

TL;DR: CEO/director bought 50,000 SND shares near $1.90, increasing his direct stake to 1.44M shares; this is a clear insider accumulation.

These purchases total 50,000 shares executed over three days at weighted-average prices disclosed in the filing. For investors, insider purchases by a CEO and significant owner can signal confidence in the company or perceived undervaluation, though the filing does not disclose intent or material company developments. The direct ownership increased to 1,438,597 shares while substantial indirect holdings remain via Keystone Cranberry, LLC.

Corporate Governance Expert

TL;DR: Reporting person is both CEO and director and properly disclosed direct and indirect holdings and recent open-market purchases.

The Form 4 includes required disclosures: transaction codes, weighted-average prices, post-transaction holdings, and an explanation of indirect ownership through Keystone Cranberry, LLC where Mr. Young holds 67% and sole management authority. The filing contains customary footnote undertakings to provide breakdowns of prices within ranges and includes a manual signature, satisfying Form 4 formalities. No amendments or plans (e.g., Rule 10b5-1) are indicated.

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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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^*

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)
08/15/2025

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	08/15/2025		P		29,592	A	$1.92(1)	1,418,189	D
Common Stock	08/18/2025		P		11,498	A	$1.87(2)	1,429,687	D
Common Stock	08/19/2025		P		8,910	A	$1.96	1,438,597	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 $1.91 to $1.93, 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. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.84 to $1.90, 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.

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	08/19/2025
	** 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

How many SND shares did Charles Edwin Young purchase and when?

He purchased 50,000 shares total: 29,592 on 08/15/2025, 11,498 on 08/18/2025, and 8,910 on 08/19/2025.

At what prices were the SND purchases executed?

Weighted-average prices reported: $1.92 for 08/15 trades (range $1.91–$1.93), $1.87 for 08/18 trades (range $1.84–$1.90), and $1.96 for 08/19 trades.

What are Mr. Young's total beneficial holdings in SND after these transactions?

Directly beneficially owned: 1,438,597 shares following the reported transactions; indirectly held via Keystone Cranberry, LLC: 5,842,700 shares.

What is Mr. Young's relationship to the issuer and Keystone Cranberry, LLC?

He is the CEO and a director of Smart Sand, Inc., a 10% owner, and holds 67% of Keystone Cranberry, LLC where he is sole managing member with sole voting and investment power over LLC-held shares.

Does the Form 4 indicate these trades were part of a Rule 10b5-1 plan?

No checkbox or language in the filing indicates these transactions were made pursuant to a Rule 10b5-1 trading plan.