Form 4: Target Hospitality Executive Troy C. Schrenk Reports Stock Transactions
SEC Form 4
Troy C. Schrenk, SEVP, Operations & CCO of Target Hospitality Corp., reports the vesting and subsequent tax withholding of restricted stock units.
Summary
- On March 4, 2024, Troy C. Schrenk, SEVP, Operations & CCO of Target Hospitality Corp., reported transactions involving the company's common stock.
- 5,353 Restricted Stock Units (RSUs) vested, which were converted into common stock.
- 1,303 shares were withheld to cover tax liabilities at a price of $9.07 per share.
- Following these transactions, Schrenk directly owns 93,158 shares of common stock and 90,380 RSUs.
Sentiment
Score: 5
Explanation: This is a neutral report of stock transactions, with no inherent positive or negative implications for the company's performance.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for executives receiving stock-based compensation. It provides transparency into the executive's holdings and recent activity.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it reflects the vesting of previously granted equity compensation.
Key Dates
| Date | Description |
|---|---|
| March 4, 2020 | Grant date for 21,414 RSUs which vest in four equal installments beginning on March 4, 2021. |
| February 24, 2022 | Grant date for 99,668 RSUs which vest in four equal installments beginning on February 24, 2023. |
| March 1, 2023 | Grant date for 15,385 RSUs which vest in four equal installments beginning on March 1, 2024. |
| February 29, 2024 | Grant date for 29,008 RSUs which vest in four annual installments beginning on March 1, 2025. |
| March 4, 2024 | Date of transaction: vesting of 5,353 RSUs and withholding of 1,303 shares for tax liability. |
| March 6, 2024 | Date of report filing. |
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