Targa Resources exec withholds 1,346 shares

Targa Resources Corp. executive Benjamin James Branstetter, President – Logistics and Transportation, reported that 1,346 shares of Common Stock were withheld on August 1, 2026 to satisfy exercise-price or tax obligations at $270.37 per share.

Rhea-AI Filing Summary

Targa Resources Corp. executive Benjamin James Branstetter, President – Logistics and Transportation, reported that 1,346 shares of Common Stock were withheld on August 1, 2026 to satisfy exercise-price or tax obligations at $270.37 per share. After this disposition, he directly holds 27,941.8235 shares. A footnote clarifies his March 3, 2026 Form 3 and a subsequent Form 4 had understated his prior holdings, which were actually 36,087.8235 shares at that time.

Insider Trade Summary

Exercise Price or Tax Liability: 1,346 shares

Exercise Price or Tax Liability 1 txn

Insider Branstetter Benjamin James

Role See Remarks

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Common Stock F1	1,346	$270.37	$364K

Holdings After Transaction: Common Stock — 27,941.8235 shares (Direct)

Footnotes (1)

1. F1. On March 3, 2026, Mr. Branstetter filed a Form 3 which inadvertently reported that he held 36,085.1191 shares of the issuer's common stock, a mistake that was carried forward in Mr. Branstetter's subsequent Form 4 filing. In fact, at that time, Mr. Branstetter held 36,087.8235 shares of the issuer's common stock.

Key Figures

Shares withheld for liabilities: 1,346 shares Price per share: $270.37 per share Shares owned after transaction: 27,941.8235 shares +2 more

5 metrics

Shares withheld for liabilities 1,346 shares Common Stock disposition on 2026-08-01 for exercise-price or tax obligations

Price per share $270.37 per share Value assigned to the 1,346 withheld Common Stock shares on 2026-08-01

Shares owned after transaction 27,941.8235 shares Direct Common Stock holdings following the August 1, 2026 withholding

Previously reported holdings 36,085.1191 shares Common Stock holdings incorrectly reported on Form 3 as of March 3, 2026

Correct prior holdings 36,087.8235 shares Actual Common Stock holdings as of March 3, 2026, per corrective footnote

Key Terms

Payment of exercise price or tax liability, Form 3, Form 4, Common Stock

4 terms

Payment of exercise price or tax liability regulatory

"Transaction code F described as "Payment of exercise price or tax liability by delivering or withholding securities""

Form 3 regulatory

"On March 3, 2026, Mr. Branstetter filed a Form 3 which inadvertently reported that he held 36,085.1191 shares"

Form 3 is the initial public filing that officers, directors and large shareholders must submit to report their ownership of a company’s securities when they become insiders. It acts like an opening inventory sheet that gives investors a starting point to see who holds significant stakes and to spot later trades or potential conflicts of interest, helping assess insider confidence and transparency.

Form 4 regulatory

"a mistake that was carried forward in Mr. Branstetter's subsequent Form 4 filing"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

Common Stock financial

"In fact, at that time, Mr. Branstetter held 36,087.8235 shares of the issuer's common stock"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Targa Resources (TRGP) executive Benjamin Branstetter report?

Benjamin Branstetter reported that 1,346 shares of Targa Resources Common Stock were withheld on August 1, 2026 to cover exercise-price or tax obligations. This is coded as an F transaction, meaning payment of such liabilities by delivering or withholding securities.

How many Targa Resources (TRGP) shares were withheld and at what price?

The filing shows 1,346 shares of Targa Resources Common Stock were withheld at a price of $270.37 per share. This reflects a disposition used to satisfy exercise-price or tax liabilities rather than an open-market sale.

How many Targa Resources (TRGP) shares does Benjamin Branstetter hold after this transaction?

After the August 1, 2026 withholding transaction, Benjamin Branstetter is reported to directly own 27,941.8235 shares of Targa Resources Common Stock. This figure reflects his direct holdings following the exercise-price or tax-liability disposition of 1,346 shares.

Was Benjamin Branstetter’s Targa Resources (TRGP) transaction under a Rule 10b5-1 plan?

The filing indicates the Rule 10b5-1 checkbox is not marked, so this reported withholding of 1,346 shares was not affirmatively disclosed as occurring under a Rule 10b5-1 trading plan. No separate trading arrangement is described in the provided data.

What correction does the filing make to Benjamin Branstetter’s prior TRGP shareholdings?

A footnote explains that an earlier Form 3 and a subsequent Form 4 mistakenly reported 36,085.1191 shares, while Branstetter actually held 36,087.8235 shares of Targa Resources Common Stock as of March 3, 2026. The current filing corrects that historical holding figure.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/04/2026 - 04:31 PM Accepted by SEC EDGAR 08/04/2026 - 04:30 PM Learn about SEC filing dates

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
Estimated average burden
hours per response:			0.5

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^*

Branstetter Benjamin James

(Last) (First) (Middle)

811 LOUISIANA, SUITE 2100

(Street)

HOUSTON TEXAS 77002

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	See Remarks

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	08/01/2026		F		1,346	D	$270.37	27,941.8235(1)	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:

1. On March 3, 2026, Mr. Branstetter filed a Form 3 which inadvertently reported that he held 36,085.1191 shares of the issuer's common stock, a mistake that was carried forward in Mr. Branstetter's subsequent Form 4 filing. In fact, at that time, Mr. Branstetter held 36,087.8235 shares of the issuer's common stock.

Remarks:

President - Logistics and Transportation

	/s/ Benjamin James Branstetter	08/04/2026
	** 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.
* Form 4: SEC 1474 (03-26)