Target Hospitality director reports share redistributions
Target Hospitality Corp. director Stephen Robertson reported internal share redistributions involving affiliated investment entities, not open-market trades.
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Form Type
4
Rhea-AI Filing Summary
Target Hospitality Corp. director Stephen Robertson reported internal share redistributions involving affiliated investment entities, not open-market trades. An in-kind distribution from TDR Capital allocated 348,475 shares of common stock to Ball LP and 31,667 shares to Halkin Private Capital Limited at a stated price of $0.0000 per share. Following these changes, Robertson holds 752,397 shares directly, while indirect holdings include 655,689 shares through Ball LP and 109,051 shares through Halkin, reflecting his roles and pecuniary interests in these entities.
Insider Trade Summary
Other: 380,142 shares
Other
3 txns
Insider
Robertson Stephen
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Common Stock, par value $0.0001 per share | 31,667 | $0.00 | $0.00 |
| Other | Common Stock, par value $0.0001 per share | 348,475 | $0.00 | $0.00 |
| holding | Common Stock, par value $0.0001 per share | -- | -- | -- |
Holdings After Transaction:
Common Stock, par value $0.0001 per share — 109,051 shares (Indirect, By Halkin Private Capital Limited);
Common Stock, par value $0.0001 per share — 655,689 shares (Indirect, By Ball LP);
Common Stock, par value $0.0001 per share — 752,397 shares (Direct)
Footnotes (3)
- F1. Represents an in-kind distribution of shares of common stock of the Issuer, par value $0.0001 ("Common Stock"), to partners or members of TDR Capital ("TDR"). The shares were acquired in connection with the election to receive Common Stock in lieu of cash proceeds, without additional consideration, following a secondary offering by MFA Global S.a r.l. ("MFA Global") and Arrow Holdings S.a r.l. ("Arrow"). TDR is the manager of the investment fund that is the ultimate beneficial owner of each of MFA Global and Arrow.
- F2. The Reporting Person is the director and controlling stockholder of Halkin Private Capital Limited ("Halkin") and is deemed the ultimate beneficial owner of the shares of Common Stock held by Halkin. Halkin is a director and shareholder of Ball GP, the general partner to Ball LP, in which the Reporting Person is a limited partner and holds a 35.6% ownership interest.
- F3. The Reporting Person may be deemed to beneficially own shares of Common Stock distributed to Halkin and a pro rata portion of the shares of Common Stock distributed to Ball LP in connection with the Offering. The Reporting Person disclaims beneficial ownership of the shares of Common Stock held by each of Halkin and Ball LP, except to the extent of his pecuniary interest therein.
Key Figures
Direct holdings after transactions: 752,397 shares
Shares to Ball LP: 348,475 shares
Ball LP holdings after transaction: 655,689 shares
+5 more
8 metrics
Direct holdings after transactions
752,397 shares
Common Stock, as of transaction date
Shares to Ball LP
348,475 shares
In-kind distribution, transaction code J
Ball LP holdings after transaction
655,689 shares
Indirect holding via Ball LP
Shares to Halkin
31,667 shares
In-kind distribution, transaction code J
Halkin holdings after transaction
109,051 shares
Indirect holding via Halkin Private Capital Limited
Restructuring shares total
380,142 shares
Shares in restructuring-type transactions (code J)
Transaction price per share
$0.0000 per share
For J-code non-derivative transactions
Ownership interest in Ball LP
35.6%
Stephen Robertson’s limited partner interest
Key Terms
in-kind distribution, ultimate beneficial owner, pecuniary interest, transaction code J, +1 more
5 terms
in-kind distribution financial
"Represents an in-kind distribution of shares of common stock of the Issuer"
A distribution of value to shareholders or beneficiaries made by transferring assets instead of paying cash, such as shares, bonds, or property. Like receiving a box of goods rather than money, it changes what you hold rather than adding liquid funds; investors care because it affects a portfolio’s composition, liquidity, tax reporting, and cost basis for the received assets.
ultimate beneficial owner financial
"TDR is the manager of the investment fund that is the ultimate beneficial owner"
The ultimate beneficial owner is the real person who ultimately owns or controls a company or asset, even if ownership is hidden behind layers of other companies, trusts, or nominees. Investors care because knowing who truly pulls the strings reveals who makes decisions and assumes risk, helps spot conflicts of interest or legal exposure, and improves trust and compliance — think of it as finding the owner behind a curtain rather than the front-facing spokesperson.
pecuniary interest financial
"disclaims beneficial ownership ... except to the extent of his pecuniary interest"
transaction code J financial
"transaction_code": "J" ... "transaction_code_description": "Other acquisition or disposition""
indirect ownership financial
""direct_or_indirect": "I", "nature_of_ownership": "By Ball LP""
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider activity did Stephen Robertson report at Target Hospitality (TH)?
Stephen Robertson reported internal share redistributions among affiliated entities. These were coded as “J” transactions, meaning other acquisitions or dispositions, and reflect restructurings rather than open-market buying or selling of Target Hospitality common stock.
What are Stephen Robertson’s direct and indirect Target Hospitality holdings after these transactions?
After the reported transactions, Stephen Robertson directly holds 752,397 Target Hospitality common shares. Indirectly, 655,689 shares are held through Ball LP and 109,051 shares through Halkin Private Capital Limited, reflecting his interests and roles in these affiliated investment entities.
What does the in-kind distribution in the Target Hospitality filing mean?
The in-kind distribution represents shares of Target Hospitality common stock distributed to partners or members of TDR Capital. These shares were received instead of cash proceeds, without additional consideration, following a secondary offering by MFA Global and Arrow entities managed by TDR.
Do the reported Target Hospitality transactions indicate insider buying or selling?
The filing does not show open-market buying or selling. The transactions are coded “J” for other acquisition or disposition and reflect in-kind distributions and internal reallocations among TDR Capital-related entities, rather than discretionary purchases or sales on the market.
AI-generated analysis. How Rhea-AI works. Not financial advice.
