Lindsay Gary 4
4 · Target Hospitality Corp. · Filed Apr 3, 2020
Insider Transaction Report
Form 4
Lindsay Gary
10% Owner
Transactions
- Award
Restricted Stock Units
2020-04-01+7,305→ 7,305 total→ Common Stock (7,305 underlying) - Other
Restricted Stock Units
2020-04-01−7,305→ 0 total→ Common Stock (7,305 underlying)
Footnotes (3)
- [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 April 1, 2020, the Compensation Committee approved the Director Retainer Reduction Equity Award Program (the "Retainer Program"). On April 1, 2020 as contemplated by the Retainer Program, the Reporting Person was granted 7,305 restricted stock units ("RSUs") pursuant to the Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan"). The RSUs will ratably vest on June 30, September 30 and December 31, 2020.
- [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.