Targa Resources (TRGP) Director Davis Waters S IV Sells Shares

What Happened

• Davis Waters S IV, a director of Targa Resources Corp. (TRGP), sold a total of 2,400 shares in open-market transactions on August 21, 2026. The sales were reported on a Form 4 filed August 25, 2026.
• The six reported disposals were: 440 @ $296.39 ($130,414), 692 @ $297.38 ($205,786), 254 @ $298.68 ($75,865), 154 @ $300.18 ($46,227), 270 @ $302.47 ($81,667), and 590 @ $303.81 ($179,250), for aggregate proceeds of about $719,209.
• These were sales (transaction code S), which are often routine portfolio-management transactions rather than a direct buy-side signal.

Key Details

• Transaction date: 2026-08-21; Form 4 filed: 2026-08-25 (within the standard two-business-day filing window).
• Prices reported are weighted averages; the individual trades were executed across small ranges:
  • 440 shares at weighted avg $296.39 (prices ranged $296.05–$296.87) — F1
  • 692 shares at weighted avg $297.38 (range $297.24–$297.54) — F2
  • 254 shares at weighted avg $298.68 (range $298.24–$298.88) — F3
  • 154 shares at weighted avg $300.18 (range $300.17–$300.18) — F4
  • 270 shares at weighted avg $302.47 (range $302.11–$303.07) — F5
  • 590 shares at weighted avg $303.81 (range $303.35–$304.07) — F6
• Ownership note: the shares are owned by the Waters Davis Legacy Trust, of which Mr. Davis is co-trustee and co-beneficiary (F7). The filing indicates the reporting person will provide per-trade details on request.
• Shares owned after the transactions are not disclosed in the excerpt provided here; check the full Form 4 for post-transaction holdings.

Context

• This filing reports straight sales (S). Sales by directors can reflect routine liquidity needs or trust management; they do not, by themselves, indicate company performance or insider confidence.
• Purchases tend to be more informative about insider sentiment; this report documents disposals executed in multiple small trades at roughly $296–$304 per share.