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

Company: Target Hospitality Corp.
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 14
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 718 (“ FASB ASC Topic 718 ”), the amounts in the table reflect the grant date fair value of RSUs granted to each of our non-executive directors on May 23, 2024 (12,998 RSUs to Mr. Robertson for his service as Non-Executive Chair and 9,965 RSUs to all other non-executive directors). The grant date fair value for these RSUs was determined by taking the closing market price of the Company’s common stock on the date of grant, which was $11.26, and multiplying it by the number of RSUs awarded. Non-Executive Directors may elect to defer settlement of up to 100% of the RSUs granted in the calendar year subsequent to the year in which the deferral election is made. Settlement may be deferred until a specified date or the Non-Executive Director’s separation from the service. In accordance with our director compensation policy, each of our Non-Executive Directors other than Messrs. Dorman and Hernandez elected to defer the settlement of the RSUs granted in 2024. As of December 31, 2024, Mr. Robertson held 299,445 outstanding RSUs (286,447 vested deferred and 12,998 unvested); Mr. Dorman held 9,965 outstanding RSUs; Mr. Hernandez held 9,965 outstanding RSUs; Mr. Jimmerson held 146,404 outstanding RSUs (136,439 vested deferred and 9,965 unvested); Ms. Medler held 46,824 outstanding RSUs (36,859 vested deferred and 9,965 unvested); and Ms. Patenaude held 53,314 RSUs (43,349 vested deferred and 9,965 unvested). Board Election & Leadership Structure Directors are elected by a plurality of the votes cast for such director. As detailed further under our Majority Voting Policy below, if an incumbent director does not receive a greater number of “for” votes than “withheld” votes, then such director must tender his or her resignation to the Board for its consideration. The Board’s policy is that the Chair of the Board must be a non-employee director. The Nominating and Corporate Governance Committee and the Board believe that this leadership structure is the most appropriate one for the Company at this time, as it allows our CEO to focus on the day-to-day management of the business and on executing our strategic priorities, while allowing the Chairman to focus on leading the Board, providing