Form 4: Target Hospitality CFO Jason Vlacich Reports Stock Transactions Following RSU Vesting
SEC Form 4
CFO Jason Vlacich reports the vesting of restricted stock units (RSUs) and subsequent transactions, including shares withheld for tax obligations.
Summary
- On February 24 and 25, 2024, Jason Vlacich, CFO & CAO of Target Hospitality Corp., had restricted stock units (RSUs) vest.
- A total of 12,458 RSUs vested on February 24, and 23,809 RSUs vested on February 25.
- Following the vesting, shares were withheld to cover tax liabilities.
- Specifically, 3,033 shares were withheld on February 24 and 5,797 shares were withheld on February 25, both at a price of $9.41 per share.
- After these transactions, Vlacich directly owns 49,685 shares of common stock.
- Vlacich also continues to hold 37,962 unvested RSUs.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, and it doesn't inherently convey positive or negative sentiment. It's a factual report of events.
Industry Context
This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units as a way to align management's interests with those of shareholders.
- The vesting schedules and tax withholding practices described in the filing are standard corporate practices.
- Comparable companies in the hospitality or real estate sectors also utilize RSUs as part of their executive compensation plans.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they relate to executive compensation and do not represent a significant change in the company's financial position.
Key Dates
| Date | Description |
|---|---|
| March 4, 2020 | Grant date of 21,414 RSUs which vest in four equal installments on each of the first four anniversaries of the grant date beginning on March 4, 2021. |
| February 25, 2021 | Grant date of 47,619 RSUs which vest 50% on the second anniversary of the grant date and the remaining 50% on the third anniversary of the grant date. |
| February 24, 2022 | Grant date of 49,834 RSUs which vest in four equal installments on each of the first four anniversaries of the grant date beginning on February 24, 2023. |
| March 1, 2023 | Grant date of 7,692 RSUs which vest in four equal installments on each of the first four anniversaries of the grant date beginning on March 1, 2024. |
| February 24, 2024 | Vesting of 12,458 Restricted Stock Units; 3,033 shares withheld for tax liability at $9.41 per share. |
| February 25, 2024 | Vesting of 23,809 Restricted Stock Units; 5,797 shares withheld for tax liability at $9.41 per share. |
| February 27, 2024 | Date of Form 4 filing. |
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