Welcome to our dedicated page for Target Hospitality SEC filings (Ticker: TH), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Target Hospitality Corp. filings document the public-company record for a Nasdaq-listed provider of modular accommodations and hospitality services. Its 8-K reports disclose operating results, investor presentations, Regulation FD business updates, contract announcements and material corporate events connected to its workforce communities and service offerings.
TH filings also cover common stock registration and capital-structure matters, including prospectus supplements and underwriting agreements for secondary offerings by selling stockholders. Proxy materials describe annual meeting proposals, board composition, committee service, executive compensation and equity incentive matters, while governance-related 8-K filings record director appointments and amendments to performance stock unit arrangements under the company incentive plan.
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.
Target Hospitality Corp. held its 2026 Annual Meeting of Stockholders, where all four management proposals were approved. Stockholders elected six directors, each receiving at least 97% of votes cast, with support ranging from 97.19% to 99.93% of shares voted.
They ratified Ernst & Young LLP as independent registered public accounting firm for the fiscal year ending December 31, 2026, with 95,036,992 votes for and 99.95% support. Stockholders also approved, on an advisory basis, executive compensation, with 76,833,468 votes for and 85.45% of votes cast in favor.
In addition, stockholders approved amendments to the 2019 Incentive Award Plan to increase the number of common shares authorized for issuance under the plan by 4,000,000 shares, bringing the total to 17,000,000 shares, with 93.12% support. On the same date, the company granted restricted stock units to each non-employee director under a form of award agreement filed as an exhibit.
Target Hospitality Corp. reported Q1 2026 revenue of $72.8 million and a net loss of $13.0 million, or $0.13 per share, compared with a $6.5 million loss a year earlier. Gross profit declined sharply as services, construction and specialty rental costs rose faster than revenue.
Operating cash flow improved to $7.0 million from $3.9 million, helped by lower interest after redeeming prior notes and better collections. The company drew $30 million on its asset-based revolver and invested heavily in specialty rental assets, with $39.4 million of net cash used in investing activities.
Growth is being driven by long-term contracts in the Workforce Hospitality Solutions segment, including West Texas Power (about $129 million minimum revenue), Pecos Power (about $23 million) and a North Texas Data Center Hub (about $550 million minimum plus potential variable fees). After quarter-end, it signed an additional AI infrastructure community contract expected to generate more than $750 million of revenue, with $200–$210 million of related capital spending, further expanding its multi-year backlog.
Target Hospitality reported first quarter 2026 revenue of $72.8 million, up modestly from $69.9 million a year earlier, but net loss widened to $13.0 million and Adjusted EBITDA fell to $9.9 million from $21.6 million as new projects ramped and a key government contract ended.
Since February 2025, the company has secured over $2.0 billion of multi-year contracts, including roughly $1.8 billion in its fast-growing Workforce Hospitality Solutions segment and a new $750 million AI Infrastructure Community contract. Management plans $330–$340 million of net committed WHS capital through 2027 and targets annualized revenue above $680 million and Adjusted EBITDA above $240 million exiting 2027, supported by strong demand from data center and power-generation projects.
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. director Paul Hohnsbeen filed an initial Form 3 reporting his ownership in the company. The filing states that no securities are beneficially owned, with 0 shares of common stock reported as owned as of May 5, 2026.
Target Hospitality Corp. appointed Paul Hohnsbeen, age 70, to its Board of Directors effective May 5, 2026, with his term running until the company’s 2027 Annual Meeting of Stockholders. He will serve as an independent director and join the Nominating and Corporate Governance Committee.
Hohnsbeen is a senior digital infrastructure and real estate executive with more than three decades of experience, including leadership roles at Aligned Data Centers, Equinix and several global financial institutions. He will receive the same compensation as other non-employee directors and enter into the company’s standard director and officer indemnification agreement.
TDR Capital–affiliated investors and related entities report large ownership and planned sales of Target Hospitality Corp. common stock. They collectively beneficially own 56,576,003 shares, representing 56.8% of the company’s common stock.
The group, including Sapphire Holding, Arrow Holdings and MFA entities, states an intention to sell or dispose of some or substantially all of their holdings over time through marketed offerings, open‑market and private transactions, or distributions. As part of this strategy, Arrow Holdings and MFA Global agreed to sell 8,050,000 shares in an underwritten secondary offering at $13.265 per share, which closed on April 23, 2026.
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.