Smart Sand, Inc. 8-K

What Happened
Smart Sand, Inc. announced on March 3, 2026 that it adopted a written trading plan under Rule 10b5-1 to facilitate share repurchases tied to its previously announced buyback program. The plan allows purchases up to a total of $2.5 million (including commissions), will not be executed before March 16, 2026, and will end upon the earlier of full use of the $2.5 million or the close of business on May 11, 2026. The filing was signed by CFO Lee E. Beckelman.

Key Details

• Total repurchase authorization under this trading plan: up to $2.5 million (including commissions).
• Trading start: no trades will be effected before March 16, 2026.
• Plan end: upon full use of $2.5M or close of business on May 11, 2026, whichever occurs first.
• Purchase mechanics: daily purchases limited to the maximum daily target volume under Rule 10b-18; a broker selected by the company will execute trades per plan terms.
• The plan does not obligate the company or broker to buy any specific number of shares; future 10b5-1 plans may be adopted after this plan expires.
• Results and any repurchases will be reported in the company’s periodic Form 10-Q and Form 10-K filings.

Why It Matters
This formal Rule 10b5-1 plan gives Smart Sand a structured way to buy back shares even during blackout periods or when insiders otherwise could not trade, while limiting purchases to $2.5M and specific timing windows. For investors, buybacks can modestly reduce share count and support per-share metrics if executed, but the company is not required to make purchases and actual repurchase activity will determine any impact. The filing also notes standard forward-looking risks (e.g., stock price volatility); ongoing repurchase activity will be disclosed in future SEC reports.