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Target Hospitality Corp.·4

Feb 26, 4:37 PM ET

Schuck Mark 4

Research Summary

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Updated

Target Hospitality (TH) SVP Mark Schuck Receives RSU Award

What Happened

  • Mark Schuck, SVP, Finance & Investor Relations at Target Hospitality (TH), had 7,475 restricted stock units (RSUs) vest on Feb 24, 2026 and converted to common shares; 1,820 of those shares were withheld to cover tax withholding (priced at $6.67/share for a $12,139 tax payment). Net shares delivered to Schuck from that vesting were 5,655 (7,475 vested minus 1,820 withheld). On Feb 25, 2026 he was granted 8,671 new RSUs (no cash cost reported) that vest in four equal annual installments beginning Feb 25, 2027.
  • RSUs are derivative awards that represent a contingent right to receive one share of common stock (or cash) upon vesting. The withholding to cover taxes is a routine administrative action, not an open-market sale.

Key Details

  • Transaction dates: Feb 24, 2026 (vesting/conversion and tax withholding); Feb 25, 2026 (new RSU grant). Form 4 filed Feb 26, 2026 (timely).
  • Withholding: 1,820 shares withheld to satisfy tax liability at $6.67/share = $12,139.
  • Vesting: 7,475 RSUs vested on Feb 24, 2026; net shares received = 5,655 after withholding.
  • New award: 8,671 RSUs granted Feb 25, 2026; vest in four equal annual installments starting Feb 25, 2027 (per the company’s 2019 Incentive Award Plan and RSU agreement).
  • Unvested RSU balance after grant (per footnote): 30,329 RSUs total (8,671 new + 10,714 granted 2/27/2025 + 6,329 granted 2/29/2024 + 4,615 granted 3/1/2023), subject to respective agreements and the Plan.
  • Not a 10b5-1 sale or open-market transaction; the disposal here reflects tax withholding (transaction code F), not a market sale.

Context

  • This filing reflects routine equity compensation activity: vesting of RSUs and withholding to cover taxes, plus a fresh RSU grant. Such withholdings are administrative and do not necessarily indicate an insider view of the company’s prospects.
  • For options/derivative items: “exercise/conversion” here means RSUs converted into shares upon vesting; part of those shares were retained by the company to pay taxes rather than sold on the open market.