Director at Targa Resources (NYSE: TRGP) reports 1,030-share grant

Rhea-AI Filing Summary

Targa Resources Corp. director Waters S. Davis IV reported an acquisition of 1,030 shares of common stock on 01/15/2026 at a price of $0 per share. After this transaction, he directly held 3,929 common shares. He also reported indirect beneficial ownership of 4,554 common shares held by the Waters Davis Legacy Trust, of which he is a co-trustee and co-beneficiary.

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

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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^*

Davis Waters S IV

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
01/15/2026

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	01/15/2026		A		1,030	A	$0	3,929	D
Common Stock								4,554	I	See Footnote(1)

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. These shares are owned by the Waters Davis Legacy Trust, of which Mr. Davis is co-trustee and co-beneficiary.

	/s/ Waters S. Davis, IV	01/20/2026
	** 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).
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 insider transaction did Targa Resources (TRGP) director Waters S. Davis IV report?

Waters S. Davis IV reported acquiring 1,030 shares of Targa Resources Corp. common stock on 01/15/2026 in a transaction coded "A" (acquisition) at a reported price of $0 per share.

How many Targa Resources (TRGP) shares does Waters S. Davis IV own directly after this Form 4?

Following the reported transaction, Waters S. Davis IV directly beneficially owned 3,929 shares of Targa Resources Corp. common stock.

What indirect Targa Resources (TRGP) holdings are reported for Waters S. Davis IV?

The filing shows 4,554 shares of Targa Resources Corp. common stock held indirectly, owned by the Waters Davis Legacy Trust, where Mr. Davis is a co-trustee and co-beneficiary.

In what capacity is Waters S. Davis IV related to Targa Resources Corp. (TRGP)?

Waters S. Davis IV is reported as a Director of Targa Resources Corp. and is not identified as a 10% owner or officer in this filing.

What does the indirect ownership footnote mean in this Targa Resources (TRGP) Form 4?

The footnote explains that the indirectly owned shares are held by the Waters Davis Legacy Trust, of which Mr. Davis is a co-trustee and co-beneficiary, indicating the shares are owned through that trust entity.

Was this Targa Resources (TRGP) insider transaction reported as part of a Rule 10b5-1 trading plan?

The checkbox for transactions made pursuant to a Rule 10b5-1(c) trading plan is present on the form; based on the excerpt, there is no indication that this box was marked for the reported transaction.