Beckelman Lee E 4

What Happened

• Lee E. Beckelman, Chief Financial Officer of Smart Sand, received 60,691 performance-based shares (two awards of 27,879 and 32,812 shares) on February 27, 2026 (transaction code A, reported $0 per Form 4). To cover tax obligations, 14,779 of those vested shares were withheld (transaction code F) at $5.19 per share, totaling $76,703. Net new shares delivered to Beckelman after withholding were 45,912 shares.
• These were not open-market buys or sales but the vesting and settlement of performance awards — a routine equity compensation event rather than an active investment trade.

Key Details

• Transaction date: February 27, 2026; Form 4 filed March 3, 2026 (Accession 0001315758-26-000004).
• Awards: 27,879 and 32,812 performance shares granted/vested (reported at $0 per share on the filing).
• Withholding: 14,779 shares withheld for taxes at $5.19/share = $76,703.
• Net shares retained by insider from this vesting: 45,912 shares.
• Footnotes: F1 & F2 — shares were earned from ROIC- and free cash flow–based performance awards originally granted March 17, 2023, for the 2023–2025 performance period; issuer confirmed achievement of the metrics on Feb 27, 2026. F3 — withheld shares were used to satisfy tax withholding obligations on vesting.
• Shares owned after transaction: not specified in this filing.
• Filing timeliness: filing date included; no late filing indicated.

Context

• These transactions reflect the vesting and settlement of previously granted performance awards, not an open-market purchase or discretionary sale. The withheld shares were used to satisfy tax liabilities (common "cashless" withholding), a routine administrative step that reduces the net number of shares delivered to the executive.