Target Hospitality Corp. — Director's Dealing 2021

Mar 8, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Target Hospitality Corp. (TH)
CIK: 0001712189
Period of Report: 2021-03-04

Reporting Person: Kalamaras Eric (EVP and CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-03-04	Common Stock, par value $0.0001 per share	M	16060	—	Acquired	142612	Direct
2021-03-04	Common Stock, par value $0.0001 per share	F	3910	$1.62	Disposed	138702	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-03-04	Restricted Stock Units	$	M	16060	Disposed		Common Stock (16060)	Direct

Footnotes

F1: Each restricted stock unit represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

F2: Restricted stock units withheld for payment of tax liability upon vesting of 16,060 restricted stock units. Stock price reflects closing stock price as of March 4, 2021.

F3: Total includes unvested RSUs from the following grants: 142,857 RSUs granted on February 25, 2021 which vest 50% on the second anniversary of the grant date and the remaining 50% on the third anniversary of the grant date; 64,240 RSUs granted on March 4, 2020 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on March 4, 2021; and 48,860 RSUs granted on September 3, 2019 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on September 3, 2020. Awards are subject to the terms of the respective RSU award agreements and subject to the Target Hospitality Corp. 2019 Incentive Award Plan.