[Form 4] Target Hospitality Corp. Insider Trading Activity

Rhea-AI Filing Summary

Insider sale under 10b5-1 plan: Troy C. Schrenk, Senior EVP of Operations & CCO at Target Hospitality Corp. (TH), sold 49,344 shares of common stock on 09/18/2025 under a pre-established 10b5-1 trading plan. The weighted-average sale price was $8.58 per share (individual trades ranged $8.44–$8.69). After the reported disposition, Schrenk beneficially owns 174,553 shares. The Form 4 was signed by an attorney-in-fact and discloses the sale was executed pursuant to the plan entered June 20, 2025.

Insights

Securities Analyst

TL;DR: Routine, pre-planned insider sale with clear disclosure; limited new information for valuation.

The Form 4 documents a disposition executed under a 10b5-1 plan, indicating the trades were pre-authorized and not necessarily tied to contemporaneous material nonpublic information. The reporting person sold 49,344 shares at a weighted-average price of $8.58, leaving 174,553 shares beneficially owned. For investors, the filing confirms compliance and transparency but does not signal a material change in company fundamentals.

Corporate Governance Expert

TL;DR: Proper procedural compliance; disclosure meets Section 16 requirements and cites the 10b5-1 plan.

The form explicitly notes the sale was made pursuant to a 10b5-1 written plan established June 20, 2025, and provides a weighted-average price range for the multiple transactions. The signature by an attorney-in-fact and the explanatory footnotes align with standard practice. This filing is governance-forward and reduces ambiguity about the motive for the disposition.

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).

X

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^*

Schrenk Troy C.

(Last) (First) (Middle)

9320 LAKESIDE BLVD., STE 300

(Street)

THE WOODLANDS TX 77381

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Target Hospitality Corp. [ TH ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SEVP, Operations & CCO

3. Date of Earliest Transaction (Month/Day/Year)
09/18/2025

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 $0.0001 per share	09/18/2025		S		49,344(1)	D	$8.58(2)	174,553	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. Sale pursuant to 10b5-1 plan entered into on June 20, 2025.

2. The price in column 4 is a weighted average price. These shares were sold on 09.18.2025 in multiple transactions at prices ranging $8.44 - $8.69, inclusive. The reporting person undertakes to provide Target Hospitality Corp. or staff at the Securities Exchange Commission, upon request, full information regarding set forth in this Footnote 2 to this Form 4.

	/s/ Heidi D. Lewis, as Attorney-in-Fact on behalf of Troy C. Schrenk	09/22/2025
	** 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.