Target Hospitality: 10% owner TDR Capital II sold 1,922,744 shares

What happened The filing says TDR Capital II Investments LP, identified as a 10% owner, disposed of 1,922,744 shares of common stock at $0.00 per share on Oct 22, 2026, for a total of $0. The Form 4 lists the transaction as "other acquisition or disposition (J)" and notes the shares were distributed to certain limited partners for no consideration (see F1).

Key details

• Transaction date and price: Oct 22, 2026; $0.00 per share; total $0.
• Transaction code: J (other acquisition or disposition) — reported as a disposition.
• Holdings noted in the filing (F2): 10,873,130 shares held by Arrow and 3,430,489 shares held by MFA Global.
• Beneficial ownership notes (F3–F5): the filing explains TDR Capital II Investments LP may be deemed the beneficial owner of securities held by Arrow and MFA Global through control relationships; the TDR persons disclaim beneficial ownership except to the extent of pecuniary interest.
• Footnote on distribution (F1): MFA Global (in liquidation) and Arrow distributed an aggregate of 1,922,744 shares to certain limited partners for no consideration.

Why it may matter

• The filing indicates the shares were distributed for no consideration, so this was not a market sale.
• The reporting entity is a 10% owner (a large holder), not an individual executive.
• A filing does not show why the insider traded or why the company acted.