Lindsay Gary 4
4 · Target Hospitality Corp. · Filed May 22, 2020
Insider Transaction Report
Form 4
Lindsay Gary
10% Owner
Transactions
- Award
Restricted Stock Units
2020-05-20+56,180→ 56,180 total→ Common Stock (56,180 underlying) - Other
Restricted Stock Units
2020-05-20−56,180→ 0 total→ Common Stock (56,180 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 May 20, 2020, the Reporting Person was granted 56,180 restricted stock units which vest in full on the first anniversary of the grant date or, if earlier, the date of the first annual meeting of the stockholders of the Issuer following the grant date, subject to the terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan and the award agreement. Subject to certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors of the Issuer.
- [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.