Targa Resources (TRGP) CEO reports sale, retains 685,686 shares

Rhea-AI Filing Summary

Matthew J. Meloy, CEO and director of Targa Resources Corp. (TRGP), reported a sale of 24,942 shares of common stock on 08/15/2025. After the transaction he beneficially owns 685,686 shares, reported on Form 4 filed 08/19/2025. The sale was coded as G (likely a sale under Rule 10b5-1 plan or similar coding used on Form 4) and shows a price of $0 in the filing record.

Positive

• Reporting person retains a substantial stake of 685,686 shares after the sale
• Form 4 was timely signed and filed (signed 08/19/2025), indicating compliance with Section 16 reporting

Negative

• Reported sale of 24,942 shares (disposition) which reduces insider holdings
• Filing lists price as $0, so the economic terms of the transaction are not disclosed in this document

Insights

Financial Analyst

TL;DR: CEO sold a small portion of holdings; remaining stake remains substantial.

The report shows a disposal of 24,942 shares, leaving 685,686 shares beneficially owned. The absolute size of the post-transaction holding indicates continued significant ownership by the CEO. The filing does not disclose proceeds or price (price listed as $0), so market impact and timing context cannot be assessed from this document alone.

Corporate Governance Expert

TL;DR: Routine insider transaction reported; documentation appears compliant but lacks price detail.

The Form 4 records the insider's sale and shows proper signature and filing. The transaction code is G, which often reflects disposition under a pre-arranged plan; however, the filing shows a $0 price, so the form itself does not provide full economic detail. No indication of unusual governance actions or abrupt leadership change is present in this filing.

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
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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^*

MELOY MATTHEW J

(Last) (First) (Middle)

811 LOUISIANA, SUITE 2100

(Street)

HOUSTON TX 77002

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Targa Resources Corp. [ TRGP ]

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

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

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	08/15/2025		G		24,942	D	$0	685,686	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:

	/s/ Matthew J. Meloy	08/19/2025
	** 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.

FAQ

What transaction did Matthew J. Meloy report on Form 4 for TRGP?

The Form 4 reports a disposition of 24,942 common shares on 08/15/2025.

How many TRGP shares does the reporting person own after the reported transaction?

After the transaction the reporting person beneficially owns 685,686 shares.

What relationship does Matthew J. Meloy have to Targa Resources (TRGP)?

The filing lists him as both a Director and an Officer (Chief Executive Officer) of Targa Resources.

Does the Form 4 disclose the sale price for the shares sold?

The filing shows a price of $0 for the reported disposition, so the economic proceeds are not disclosed in this document.

When was the Form 4 signed and filed?

The signature block shows the Form 4 was signed by Matthew J. Meloy on 08/19/2025.