Company: TH
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0001104659-25-032818
Chunk: 62

Company: Target Hospitality Corp.
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 62
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 an aggregate of 4,000,000 shares of our common stock in the form of stock options, stock appreciation rights, restricted stock, restricted stock units, stock bonus awards, and performance compensation awards. In 2022, the Board approved an amendment to the Incentive Plan to increase the number of shares of our common stock available for issuance under the incentive Plan by 4,000,000 shares, which amendment was approved by our stockholders on May 19, 2022. This amendment to the Incentive Plan seeks to increase the number of shares of common stock authorized for issuance under the Incentive Plan by 5,000,000 shares, to a total of 13,000,000 shares (the Incentive Plan, as amended by this amendment, (the “ Amended Incentive Plan ”). Purpose of and Reasons for the Amended Incentive Plan The purpose of the Amended Incentive Plan is to assist us in attracting, motivating, and retaining selected individuals who serve as our employees, directors, and consultants, whose judgment, interest, and special effort is critical to the successful conduct of our operation. We believe that the equity-based awards to be issued under the Amended Incentive Plan will motivate the recipients to offer their maximum effort to us and help focus them on the creation of long-term value consistent with the interests of our stockholders. Further, we believe that grants of incentive awards are necessary to enable us to attract and retain top talent. As of the record date, shares under the Incentive Plan are largely exhausted. If the Amended Incentive Plan is not approved, we will be significantly limited in our ability to issue long-term equity awards for upcoming grant cycles and in subsequent years, which we believe will significantly impair our efforts in aligning employees’ interests with those of stockholders, hiring and retaining top talent, and affecting the pay for performance component of our compensation philosophy. Material Terms of the Amended Incentive Plan The material terms of the Amended Incentive Plan are summarized below. The Board approved and adopted, subject to stockholder approval, the Amended Incentive Plan on February 27, 2025. A copy of the Amended Incentive Plan is attached to this proxy statement as Annex A. Administration . The Compensation Committee of the Board will administer the Amended Incentive Plan. The Compensation Committee will generally have authority to designate participants, determine the type or types of awards to be granted to a participant, determine