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

Rhea-AI Filing Summary

Insider sale by Smart Sand, Inc. officer — The filing reports that Christopher M. Green, identified as Vice President of Accounting, sold 11,500 shares of Smart Sand, Inc. (SND) common stock on 08/28/2025 at a weighted average price of $1.95 per share. After the reported disposition, the filing shows the reporting person beneficially owns 53,959 shares. The form is filed individually and signed by an attorney-in-fact on behalf of the reporting person.

Positive

• Clear disclosure of transaction date, quantity sold, and weighted-average price with explanatory footnote
• Post-transaction beneficial ownership is reported (53,959 shares), providing transparency about remaining insider stake

Negative

• None.

Insights

Securities Analyst

TL;DR: An officer sold a modest block of shares at low-single-digit prices, leaving a remaining stake of ~54k shares.

The Form 4 documents a routine Section 16 disclosure: 11,500 shares were disposed of on 08/28/2025 at a weighted average price of $1.95, with a post-transaction beneficial ownership of 53,959 shares. The filing is by one reporting person and executed via attorney-in-fact. No derivative transactions or plans are reported. This appears to be a standard insider sale rather than an offering or equity award exercise; materiality depends on the company's share count and market cap, which are not provided in the filing.

Corporate Governance Expert

TL;DR: Disclosure meets Section 16 requirements; sale details are clearly reported with weighted-average pricing footnote.

The filing includes a footnote stating the $1.95 price is a weighted average from multiple trades between $1.93 and $1.96 and offers to provide per-trade breakdowns on request. The report lists the filer as Vice President of Accounting and indicates individual filing status. There are no indications in this document of derivative holdings, 10b5-1 plan checkboxes, or amendments to prior disclosures.

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^*

Green Christopher M.

(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)
	Vice President of Accounting

3. Date of Earliest Transaction (Month/Day/Year)
08/28/2025

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, par value $0.001 per share	08/28/2025		S		11,500	D	$1.95(1)	53,959	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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.93 to $1.96, 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.

Remarks:

	/s/ Lee E. Beckelman as Attorney-in-Fact for Christopher Green	09/02/2025
	** 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 did Christopher M. Green report on Form 4 for SND?

He reported the sale of 11,500 shares of Smart Sand, Inc. common stock on 08/28/2025 at a weighted average price of $1.95 per share.

How many Smart Sand (SND) shares does the reporting person own after the sale?

The filing shows 53,959 shares beneficially owned following the reported disposition.

Was the Form 4 filed jointly or by one reporting person?

The form indicates it was filed by one reporting person (individual filing).

Does the Form 4 show any derivative transactions or 10b5-1 trading plan?

No derivative securities or 10b5-1 plan checkbox information are reported in the provided content.

What price range does the weighted-average price footnote cover?

The explanatory footnote states trades occurred at prices ranging from $1.93 to $1.96, inclusive, resulting in the reported weighted average of $1.95.