Target Hospitality (TH) SVP receives 8,671 RSUs and withholds shares for taxes

Rhea-AI Filing Summary

Target Hospitality Corp. senior vice president of finance and investor relations Mark Schuck reported equity compensation activity involving restricted stock units and common shares. On February 25, 2026, he received a grant of 8,671 restricted stock units that vest in four equal annual installments starting on February 25, 2027.

On February 24, 2026, 7,475 restricted stock units vested and were settled into common stock, and 1,820 common shares were disposed of at $6.67 per share to cover tax withholding obligations. After these transactions, Schuck holds 24,677 common shares directly, along with multiple unvested RSU awards scheduled to vest over the next several years under the company’s 2019 Incentive Award Plan.

Insider Trade Summary

7,475 shares exercised/converted

Mixed 4 txns

Insider Schuck Mark

Role SVP, Finance & IR

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	8,671	$0.00	--
Exercise	Restricted Stock Units	7,475	$0.00	--
Exercise	Common Stock, par value $0.0001 per share	7,475	$0.00	--
Tax Withholding	Common Stock, par value $0.0001 per share	1,820	$6.67	$12K

Holdings After Transaction: Restricted Stock Units — 33,913 shares (Direct); Common Stock, par value $0.0001 per share — 26,497 shares (Direct)

Footnotes (1)

1. Each Restricted Stock Unit ("RSU") represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock") or its cash equivalent. Restricted stock units withheld for payment of tax liability upon vesting of 7,475 RSUs on February 24, 2026. Stock price reflects closing stock price as of February 24, 2026. On February 25, 2026, the Reporting Person was granted 8,671 RSUs which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning February 25, 2027, subject to the terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan, as amended (the "Plan") and the RSU agreement entered into between the Issuer and the Reporting Person. Total includes, in addition to 8,671 RSUs granted on February 25, 2026, unvested RSUs from the following grants: 10,714 RSUs granted on February 27, 2025 which vest in four annual installments on each of the first four anniversaries of the grant date beginning on February 27, 2026; 6,329 RSUs granted on February 29, 2024 which vest in four annual installments on each of the first four anniversaries of the grant date beginning on March 1, 2025; and 4,615 RSUs granted on March 1, 2023, which vest in four equal installments on each of the first four anniversaries of the grant date beginning on March 1, 2024. Awards are subject to the terms of the respective RSU award agreements and subject to the Plan, as amended.

Form 4 Insider Transactions: What Each Field Means →

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

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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^*

Schuck Mark

(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)
	SVP, Finance & IR

3. Date of Earliest Transaction (Month/Day/Year)
02/24/2026

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	02/24/2026		M		7,475	A	(1)	26,497	D
Common Stock, par value $0.0001 per share	02/24/2026		F		1,820	D	$6.67(2)	24,677	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
Restricted Stock Units	(1)	02/25/2026		A		8,671		(3)	(3)	Common Stock	8,671	$0	33,913(4)	D
Restricted Stock Units	(1)	02/24/2026		M			7,475	(4)	(4)	Common Stock	7,475	$0	26,438(4)	D

Explanation of Responses:

1. Each Restricted Stock Unit ("RSU") represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock") or its cash equivalent.

2. Restricted stock units withheld for payment of tax liability upon vesting of 7,475 RSUs on February 24, 2026. Stock price reflects closing stock price as of February 24, 2026.

3. On February 25, 2026, the Reporting Person was granted 8,671 RSUs which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning February 25, 2027, subject to the terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan, as amended (the "Plan") and the RSU agreement entered into between the Issuer and the Reporting Person.

4. Total includes, in addition to 8,671 RSUs granted on February 25, 2026, unvested RSUs from the following grants: 10,714 RSUs granted on February 27, 2025 which vest in four annual installments on each of the first four anniversaries of the grant date beginning on February 27, 2026; 6,329 RSUs granted on February 29, 2024 which vest in four annual installments on each of the first four anniversaries of the grant date beginning on March 1, 2025; and 4,615 RSUs granted on March 1, 2023, which vest in four equal installments on each of the first four anniversaries of the grant date beginning on March 1, 2024. Awards are subject to the terms of the respective RSU award agreements and subject to the Plan, as amended.

	/s/ Heidi D. Lewis, as Attorney-in-Fact on behalf of Mark Schuck	02/26/2026
	** 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).
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FAQ

What insider transactions did Target Hospitality (TH) report for Mark Schuck?

Target Hospitality reported equity compensation activity for Mark Schuck, including an 8,671 restricted stock unit grant on February 25, 2026 and RSU vesting on February 24, 2026. Some common shares were disposed of to satisfy tax withholding obligations related to the vesting event.

How many restricted stock units did Mark Schuck receive from Target Hospitality (TH)?

Mark Schuck received a grant of 8,671 restricted stock units on February 25, 2026. These units vest in four equal annual installments beginning February 25, 2027, under Target Hospitality’s 2019 Incentive Award Plan and the related RSU agreement between the company and Schuck.

When do Mark Schuck’s new Target Hospitality (TH) RSUs vest?

The 8,671 restricted stock units granted to Mark Schuck vest in four equal annual installments. Vesting occurs on each of the first four anniversaries of the February 25, 2026 grant date, starting on February 25, 2027, subject to the plan terms and individual award agreement.

Why did Mark Schuck dispose of Target Hospitality (TH) shares in this Form 4?

Mark Schuck disposed of 1,820 Target Hospitality common shares at $6.67 per share to cover tax withholding. This was tied to the vesting of 7,475 restricted stock units on February 24, 2026, as permitted under the company’s equity incentive plan documentation.

How many Target Hospitality (TH) common shares does Mark Schuck hold after these transactions?

After the reported transactions, Mark Schuck directly holds 24,677 Target Hospitality common shares. In addition, he has multiple unvested restricted stock unit awards outstanding from grants made in 2023, 2024, 2025 and 2026, each with multi-year vesting schedules.

What other RSU grants to Mark Schuck are still unvested at Target Hospitality (TH)?

Unvested RSUs include 10,714 units from a February 27, 2025 grant, 6,329 from a February 29, 2024 grant, and 4,615 from a March 1, 2023 grant. Each grant vests in four annual installments beginning one year after its respective grant date.