Gary Lindsay - May 18, 2021 Form 4 Insider Report for Target Hospitality Corp. (TH)

Role
Director
Signature
/s/ Heidi D. Lewis, as Attorney-in-Fact on behalf of Gary Lindsay
Stock symbol
TH
Transactions as of
May 18, 2021
Transactions value $
$0
Form type
4
Date filed
5/20/2021, 04:40 PM
Next filing
Jun 15, 2021

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction TH Restricted Stock Units Award $0 +38.5K $0.00 38.5K May 18, 2021 Common Stock 38.5K Direct F1, F2
transaction TH Restricted Stock Units Other $0 -38.5K -100% $0.00* 0 May 18, 2021 Common Stock 38.5K Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
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 On May 18, 2021, the Reporting Person was granted 38,462 restricted stock units which vest in full on the first anniversary of the grant date or, if earlier, the date of the first annual meeting of the stockholders of the Issuer following the grant date, subject to the terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan and the award agreement. Subject to certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors of the Issuer.
F3 Immediately following the grant of the restricted stock units, Mr. Lindsay transferred the restricted stock units to Arrow Holdings S.a r.l ("Arrow"), which holds certain securities of Target Hospitality Corp. on behalf of TDR Capital II Holdings LP, the investment fund managed by TDR Capital LLP. Upon transfer to Arrow, the restricted stock units will vest in accordance with the same terms and conditions of the initial grant.