Form 4: Target Hospitality Executive Heidi Lewis Reports Stock Transactions
SEC Form 4 Filing
Heidi Lewis, EVP, General Counsel & Secretary of Target Hospitality Corp., reports acquisition and disposal of common stock and restricted stock units.
Summary
- On March 1, 2024, Heidi Lewis exercised restricted stock units (RSUs) converting them into 1,923 shares of common stock.
- Also on March 1, 2024, 468 shares were disposed of to cover tax liabilities at a price of $9.60 per share.
- On February 29, 2024, Lewis was granted 18,460 restricted stock units that vest in four equal annual installments starting March 1, 2025.
- Following these transactions, Lewis directly owns 118,813 shares of common stock and 54,499 restricted stock units.
Sentiment
Score: 5
Explanation: Neutral sentiment as the document simply reports stock transactions by an executive, which is a normal part of corporate activity.
Positives
- The grant of 18,460 restricted stock units to Heidi Lewis could be seen as a positive incentive for her continued service and performance.
Future Outlook
The granted RSUs will vest in the future, contingent on continued service, as per the terms of the Target Hospitality Corp. 2019 Incentive Award Plan.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates the executive's ongoing stake in the company.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect insider activity related to compensation.
Key Dates
| Date | Description |
|---|---|
| 02/24/2022 | 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. |
| 03/01/2023 | 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. |
| 02/29/2024 | Grant date of 18,460 restricted stock units which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning March 1, 2025. |
| 03/01/2024 | Exercise of 1,923 Restricted Stock Units and disposal of 468 shares for tax liability. |
| 03/04/2024 | Date of signature on the Form 4 filing. |
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