Every Form 4 that Target Hospitality Corp. (TH) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A Form 4 covers the transactions officers, directors and large holders report, so if you follow TH and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full TH filings page.
Target Hospitality Corp. (TH) reports that MFA Global S.a r.l. (in liquidation) and Arrow Holdings S.a r.l. sold an aggregate of 11,000,000 shares of common stock in an open market sale on October 1, 2026, at $18.40 per share. The reported post-sale position was 16,226,363 shares, including 12,334,735 held by Arrow and 3,891,628 held by MFA Global. No Rule 10b5-1 plan is reported.
Target Hospitality Corp. director Stephen Robertson reported four in-kind share acquisitions by Halkin Private Capital Limited and Ball LP on September 25, 2026: Halkin received 78,150 and 247,703 shares, while Ball LP received 146,741 and 465,105 shares. The shares were distributed to TDR partners or members following an election to receive stock instead of cash proceeds, without additional consideration, after MFA Global and Arrow's secondary offering. Robertson also reported direct holdings of 465,950 shares that day and disclaimed beneficial ownership of shares held by Halkin and Ball LP except to the extent of his pecuniary interest.
Target Hospitality Corp. director Stephen Robertson amended his prior Form 4 to correct the reported in-kind distributions of common shares to Halkin Private Capital Limited and Ball LP. On June 18, 2026, the reported acquisitions were 13,098 and 41,515 shares by Halkin, and 77,147 and 244,520 shares by Ball LP.
The shares were distributed without additional consideration after an election to receive common stock in lieu of cash proceeds following a secondary offering by MFA Global and Arrow. The amendment says the original report underreported Halkin’s shares by 22,946 and overreported Ball LP’s by 26,808, and corrects the earliest transaction date from June 17 to June 18, 2026. Robertson may be deemed to beneficially own shares held by those entities, but disclaims beneficial ownership except to the extent of his pecuniary interest.
Target Hospitality Corp. director Stephen Robertson amended his ownership report to correct a prior over-reporting of 10,621 shares, in aggregate, that he may be deemed to beneficially own in connection with Ball LP. Entries dated May 28, 2026 report Ball LP acquiring 71,133 and 225,460 shares through an in-kind distribution, following an election to receive Common Stock instead of cash proceeds from a secondary offering. Robertson disclaims beneficial ownership of Ball LP's shares except to the extent of his pecuniary interest.
Target Hospitality Corp. (symbol: TH) is the issuer of record for a Form 4 filing submitted to the SEC.
Target Hospitality Corp. (TH) reported that Chief Commercial Officer Troy C. Schrenk purchased 5,907 shares of common stock on September 18, 2026, in an open-market or private transaction at $21.16 per share. Following this purchase, he directly holds 216,995 shares of Target Hospitality common stock. No Rule 10b5-1 trading plan is reported.
Target Hospitality Corp. (TH) director, CEO and President James Bradley Archer purchased 13,385 shares of common stock on September 15, 2026 at $18.69 per share in an open-market or private transaction. Following this purchase, he directly owns 1,845,441 shares of Target Hospitality common stock. No Rule 10b5-1 trading plan is reported.
Target Hospitality Corp. (TH) reported that entities associated with major shareholder TDR Capital disclosed an indirect disposition of common stock. On September 10, 2026, MFA Global S.a r.l. (in liquidation) and Arrow Holdings S.a r.l. sold an aggregate of 16,100,000 shares of common stock in an underwritten public offering at $17.71375 per share, including shares sold pursuant to the underwriters' option to purchase additional shares. Following this transaction, entities associated with the reporting persons collectively held 29,878,409 shares indirectly, consisting of 22,712,560 shares held by Arrow and 7,165,849 shares held by MFA Global. Various TDR Capital-related entities and individuals may be deemed beneficial owners of these securities but disclaim beneficial ownership except to the extent of their pecuniary interest.
Smyth Margaret Mary reported acquisition or exercise transactions in this Form 4 filing.
Target Hospitality Corp. granted director Margaret Mary Smyth 6,963 Restricted Stock Units on August 4, 2026 as she joined the Board of Directors. Each RSU represents a contingent right to receive one share of common stock or its cash equivalent and will vest in full on May 20, 2027 under the company’s 2019 Incentive Award Plan and related Award Agreement.
Sanchack Erich reported acquisition or exercise transactions in this Form 4 filing.
Target Hospitality Corp. director Erich Sanchack received a grant of 6,963 Restricted Stock Units on August 4, 2026 as a newly appointed board member. Each RSU represents one share of common stock or its cash equivalent and vests in full on May 20, 2027 under the 2019 Incentive Award Plan.
Target Hospitality Corp.’s major holders reported an internal share redistribution. On June 18, 2026, MFA Global S.a r.l. (in liquidation) and Arrow Holdings S.a r.l. distributed an aggregate of 1,344,460 shares of common stock to certain limited partners for no consideration.
Following this restructuring-type transaction, entities associated with TDR Capital remain indirect holders of 45,978,409 shares of Target Hospitality common stock, including 34,951,238 shares held by Arrow and 11,027,171 shares held by MFA Global. The TDR-related persons expressly disclaim beneficial ownership beyond their pecuniary interest.
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.
Target Hospitality Corp. director Stephen Robertson reported restructuring transactions involving indirect holdings, not open-market trades. Several entries coded "J" show an in-kind distribution of Common Stock to investment entities Ball LP and Halkin Private Capital Limited at a stated price of $0.0000 per share. A separate line records that Robertson holds 752,397 shares of Common Stock directly following the reported events. Footnotes explain that the distributions stem from partners electing to receive stock instead of cash in a secondary offering managed by TDR Capital, and that Robertson may be deemed an ultimate beneficial owner while disclaiming ownership in Ball LP and Halkin beyond his pecuniary interest.
Target Hospitality Corp. disclosed that investment entities affiliated with TDR Capital restructured and reduced their indirect stake. On May 28, 2026, MFA Global and Arrow Holdings distributed an aggregate 1,203,134 shares of common stock to certain limited partners for no consideration. On May 29, 2026, the same entities sold an aggregate 8,050,000 shares in an underwritten public offering at $16.3625 per share. After these transactions, they continued to hold 47,322,869 shares indirectly through Arrow and MFA Global, and various TDR Capital-related entities may be deemed beneficial owners but expressly disclaim beneficial ownership beyond their pecuniary interest.
Target Hospitality Corp. director Alejandro Hernandez reported equity compensation changes. On May 21, 2026, he exercised 16,061 Restricted Stock Units (RSUs), receiving the same number of common shares and ending that RSU award. Following the exercise, he directly holds 32,901 shares of common stock.
On the same date, he also received a new grant of 7,597 RSUs under the Target Hospitality Corp. 2019 Incentive Award Plan. These RSUs vest in full on May 21, 2027, or earlier if the next annual stockholders’ meeting occurs before that date.
Target Hospitality Corp. director Pamela H. Patenaude reported routine equity compensation activity. On May 21, 2026, she exercised 16,061 Restricted Stock Units into the same number of shares of common stock, reflecting the vesting of a prior equity award.
The filing also shows a new grant of 7,597 Restricted Stock Units, each representing a contingent right to receive one share of common stock or its cash equivalent. These new units vest in full on May 21, 2027, or earlier if the next annual stockholder meeting occurs before that date, and settled shares are generally delivered upon separation from the board.
After the transactions, Patenaude holds 69,375 shares of common stock directly, along with 7,597 unvested Restricted Stock Units. The activity involves no open-market buying or selling and reflects standard director compensation and vesting mechanics under Target Hospitality Corp.’s 2019 Incentive Award Plan.
Target Hospitality Corp. director Paul Hohnsbeen reported routine equity compensation activity. On May 21, 2026, he exercised 347 shares of previously granted Restricted Stock Units into the same number of common shares at a stated price of $0.0000 per share, leaving him with 347 common shares reported directly owned.
On the same date, he also received a new grant of 7,597 Restricted Stock Units, each representing a contingent right to receive one share of common stock or its cash equivalent upon vesting. According to the plan terms, these RSUs vest in full on May 21, 2027 or, if earlier, on the date of the next annual stockholder meeting.
Target Hospitality Corp. director Linda R. Medler reported equity compensation-related transactions. On May 21, 2026, she exercised 16,061 Restricted Stock Units (RSUs) into an equal number of shares of common stock, increasing her direct ownership to 62,885 common shares.
On the same date, she was granted 7,597 new RSUs, each representing a contingent right to receive one share of common stock or its cash equivalent. These RSUs vest in full on May 21, 2027, or earlier if the next annual stockholder meeting occurs before then, with delivery of vested shares generally deferred until separation of service from the board.
Target Hospitality Corp. director Martin L. Jimmerson reported routine equity compensation activity. On May 21, 2026, he exercised 16,061 Restricted Stock Units into an equal number of shares of Common Stock, bringing his direct Common Stock holdings to 172,465 shares after the transaction.
On the same date, he was granted 7,597 new Restricted Stock Units, each representing a contingent right to receive one share of Common Stock or its cash equivalent upon vesting. These new RSUs vest in full on May 21, 2027 or, if earlier, on the date of the next annual stockholder meeting, with delivery generally upon separation of service from the board.
Target Hospitality Corp. director Stephen Robertson reported equity compensation activity involving restricted stock units and common shares. On May 21, 2026, he exercised 20,950 restricted stock units into the same number of shares of common stock, leaving him with 752,397 common shares held directly.
On the same date, he received a new grant of 9,567 restricted stock units, each representing a contingent right to receive one share of common stock or its cash equivalent upon vesting and later delivery, generally tied to his service on the board.
Hohnsbeen Paul reported acquisition or exercise transactions in this Form 4 filing.
Target Hospitality Corp. director Paul Hohnsbeen received a grant of 347 Restricted Stock Units on May 5, 2026 as part of his compensation for joining the board. Each RSU represents a right to receive one share of common stock or its cash equivalent upon vesting.
The 347 RSUs vest in full on May 21, 2026 under the Target Hospitality Corp. 2019 Incentive Award Plan and the related award agreement. Following this grant, Hohnsbeen holds 347 RSUs directly, with no open-market purchases or sales reported in this filing.
Target Hospitality Corp. disclosed that entities affiliated with TDR Capital participated in a secondary share sale. On April 23, 2026, MFA Global S.a r.l. (in liquidation) and Arrow Holdings S.a r.l. sold an aggregate 8,050,000 shares of common stock in an underwritten public offering at $13.265 per share.
After the transaction, the reporting group shows 56,576,003 shares of common stock held indirectly. Various TDR-related entities and individuals are described as potential beneficial owners through layered holding structures, while each TDR person formally disclaims beneficial ownership beyond any pecuniary interest.
Target Hospitality Corp. executive Brendan Dowhaniuk reported exercising restricted stock units into common shares. On February 27, 2026, 7,813 RSUs were converted, resulting in the direct acquisition of 7,813 shares of common stock at a price of $0.0000 per share, bringing his direct common stock holdings to 25,523 shares.
Target Hospitality Corp. SVP, Finance & IR Mark Schuck reported RSU vesting-related transactions. On February 27, 2026 and March 1, 2026, restricted stock units converted into common stock at no cost, reflecting routine equity compensation vesting under the company’s incentive plan.
In connection with these vestings, shares of common stock were also disposed of through tax-withholding transactions at a price of $7.79 per share to cover associated tax liabilities. All transactions are reported as direct ownership and include both newly acquired common shares from RSUs and shares withheld for taxes.
Target Hospitality Corp. CFO Jason Paul Vlacich reported RSU vesting and related share settlements. On February 27 and March 1, 2026, he exercised multiple Restricted Stock Units into common stock at a price of $0.0000 per share, increasing his direct holdings.
To cover tax liabilities on these vestings, the company withheld shares of common stock at a price of $7.79 per share, which is described as the closing price on February 27, 2026. Footnotes show he continues to hold substantial unvested RSU awards that vest in four annual installments from March 1, 2024 through future anniversaries.
Target Hospitality Corp. Senior Executive Vice President of Operations & CCO Troy C. Schrenk reported multiple equity transactions involving Restricted Stock Units (RSUs) and common stock. On February 27 and March 1, 2026, he exercised RSUs, each representing a right to receive one share of common stock or its cash equivalent, resulting in new common shares at a stated price of $0.0000 per share.
In connection with these vestings, shares of common stock were automatically withheld at $7.79 per share to cover tax liabilities, rather than being sold in an open-market transaction. After these transactions, Schrenk directly held 211,088 shares of common stock and 106,018 RSUs, which include unvested awards from prior grants that vest in four annual installments beginning between March 1, 2024 and February 25, 2027.
Target Hospitality Corp. executive Heidi Diane Lewis, EVP, General Counsel & Secretary, reported multiple equity award transactions. On February 27 and March 1, 2026, restricted stock units vested and were converted into common stock at no cost, increasing her direct holdings. A portion of the resulting shares was automatically withheld and disposed of at $7.79 per share to cover tax liabilities tied to these vesting events, rather than open-market sales.
Target Hospitality Corp. director, CEO and president James Bradley Archer reported multiple equity compensation transactions involving restricted stock units (RSUs) and common stock. On February 27, 2026 and March 1, 2026, RSUs vested and were converted into common shares at no exercise price, increasing his direct holdings. The filing shows RSUs representing one share of common stock or its cash equivalent upon vesting. Some of the newly issued common shares were simultaneously withheld to cover tax liabilities, recorded as code "F" transactions at a price of $7.79 per share, consistent with the stated closing stock price on February 27, 2026. After these transactions, Archer directly owned 1,808,113–1,832,056 shares of common stock across the reported events, along with a substantial balance of unvested RSUs subject to multi-year vesting schedules under the company’s 2019 Incentive Award Plan.
Hahamski Cyril Jordanov reported acquisition or exercise transactions in this Form 4 filing.
Target Hospitality Corp. granted its Chief Accounting Officer, Hahamski Cyril Jordanov, 10,838 Restricted Stock Units (RSUs) on February 25, 2026. Each RSU represents a contingent right to receive one share of common stock or its cash equivalent upon vesting.
The award vests in four equal annual installments on each of the first four anniversaries of the grant date, beginning February 25, 2027. The grant was made under the company’s 2019 Incentive Award Plan and a related RSU agreement.
Dowhaniuk Brendan reported acquisition or exercise transactions in this Form 4 filing.
Target Hospitality Corp. executive Brendan Dowhaniuk, EVP of Strategy & Corporate Development, received equity awards in the form of restricted and performance stock units. He was granted 25,289 Restricted Stock Units (RSUs), each representing a right to one share of common stock or its cash equivalent upon vesting.
These RSUs vest in four equal annual installments starting on February 25, 2027 under the company’s 2019 Incentive Award Plan. Dowhaniuk was also granted a maximum of 300,000 Performance Stock Units (PSUs). The actual PSUs earned can range from 0 to 300,000, depending on the stock achieving volume-weighted average price targets between $20.00 and $30.00 during defined 60-day measurement periods, with cumulative earned PSUs vesting on June 30, 2028 or upon certain other events.
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.
Target Hospitality Corp. CFO Jason Paul Vlacich reported multiple equity transactions. He received a grant of 43,353 Restricted Stock Units on February 25, 2026, which vest in four equal annual installments beginning February 25, 2027. On February 24, 2026, 12,458 RSUs were exercised into the same number of common shares, and 3,033 common shares were withheld at a stock price of $6.67 per share to cover tax liabilities upon vesting. Following these transactions, his direct holdings of common stock were 130,196 shares, and his direct holdings of RSUs were 142,895 units, including prior unvested awards.
Target Hospitality Corp. executive Heidi Diane Lewis, EVP, General Counsel & Secretary, reported new equity awards and related share movements. On February 25, 2026, she received 28,902 Restricted Stock Units (RSUs) that vest in four equal annual installments starting February 25, 2027.
She was also granted a maximum of 175,000 Performance Stock Units (PSUs), with the actual number earned ranging from 0 to 175,000 based on the company’s stock hitting volume-weighted average price targets between $20.00 and $30.00 during specified 60‑day measurement periods, with earned PSUs vesting on June 30, 2028 subject to plan terms.
On February 24, 2026, 12,458 RSUs were exercised into an equal number of common shares, and 3,033 shares of common stock were surrendered at $6.67 per share to cover tax liabilities, a tax-withholding disposition rather than an open‑market sale.
Target Hospitality Corp. executive Troy C. Schrenk reported multiple equity award transactions. On February 25, 2026, he received a grant of 39,740 restricted stock units (RSUs) that vest in four equal annual installments starting February 25, 2027, under the company’s 2019 Incentive Award Plan.
He was also granted a maximum of 400,000 performance stock units (PSUs) on February 25, 2026. The actual number that vest can range from 0 to 400,000 based on the company’s common stock achieving specified volume weighted average price targets between $20.00 and $30.00 during annual 60-day measurement periods, with earned PSUs vesting on June 30, 2028 or upon certain other events.
On February 24, 2026, 24,917 RSUs were exercised into 24,917 shares of common stock at $0.00, with 6,067 shares of common stock withheld at $6.67 per share to cover tax liabilities upon vesting. Following these transactions, Schrenk directly held 193,403 shares of common stock and 400,000 PSUs, along with 143,212 RSUs.
Target Hospitality Corp. director, CEO and President James Bradley Archer reported multiple equity award transactions. He received a grant of 137,283 restricted stock units (RSUs) on February 25, 2026, which vest in four equal annual installments starting February 25, 2027, under the company’s 2019 Incentive Award Plan.
On February 24, 2026, 62,292 RSUs were exercised into an equal number of common shares at a stated price of $0.00, and 24,511 common shares at $6.67 per share were withheld to cover tax liabilities upon vesting. After these moves, he directly holds 1,782,390 common shares and 473,232 RSUs, including prior unvested RSU grants.
Target Hospitality Corp. executive Heidi D. Lewis, EVP, General Counsel & Secretary, sold 9,000 shares of common stock on January 20, 2026 at a weighted average price of $7.34 per share. The sale was made under a pre-arranged Rule 10b5-1 trading plan that she entered into on June 12, 2025. The transactions were executed in multiple trades at prices ranging from $7.28 to $7.52 per share. Following this sale, she directly beneficially owns 131,742 shares of Target Hospitality common stock.
Target Hospitality Corp. executive reports planned stock sale under 10b5-1 plan. On 12/15/2025, an officer of Target Hospitality Corp., serving as EVP, General Counsel & Secretary, sold 13,456 shares of common stock in an open market transaction coded as a sale. The weighted average sale price was $8.50 per share, with individual trades on that date occurring between $8.45 and $8.56 per share. After this transaction, the reporting person beneficially owned 140,742 shares of Target Hospitality common stock, held directly. The filing notes that this sale was made pursuant to a pre-arranged Rule 10b5-1 trading plan entered into on June 12, 2025.
Target Hospitality Corp. (TH) reported an insider stock sale by Executive Vice President, General Counsel & Secretary Heidi D. Lewis on 11/17/2025. She sold 9,000 shares of common stock at a weighted average price of $6.70 per share, through multiple trades between $6.21 and $6.95.
The transaction was made under a pre-arranged Rule 10b5-1 trading plan that was entered into on June 12, 2025. After this sale, Lewis beneficially owns 154,198 shares of Target Hospitality common stock.
Target Hospitality Corp. (TH) director Stephen Robertson reported an open-market purchase of company stock. On 11/17/2025, he bought 145,000 shares of common stock at a price of $6.85 per share. After this transaction, he beneficially owned 320,000 shares of Target Hospitality common stock, held directly. The filing was made on Form 4 by a single reporting person, reflecting his role as a director of the company.