Company: TH
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0001104659-25-032818
Chunk: 72

Company: Target Hospitality Corp.
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 72
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 officers and not the sole governing factor. Awards Subject to Shareholder Approval The aggregate number of shares of Common Stock issuable under the Incentive Plan, prior to amendment, may not exceed 8,000,000. As of the record date, the Company has awarded an aggregate of 2,992,857 PSUs contingent upon shareholders’ approval of this Proposal 4. If the Amended Incentive Plan is approved, after taking into account the awards issued subject to shareholder approval of the Amended Incentive Plan assuming maximum performance, an aggregate of 2,195,682 shares of Common Stock will be available for future grant under the Amended Incentive Plan (subject to adjustment in the event of a stock split, stock dividend, recapitalization, reorganization, or similar transaction). The table below presents the number of PSU awards that are subject to shareholder approval of this Proposal 4 that would be received by the executive officers, executive officers as a group, non-executive directors as a group and non-executive officer employees as a group. The awards outlined below were approved by the Compensation Committee but were conditioned upon shareholder approval of the Amended Incentive Plan. Consequently, these awards will be settled in cash if shareholders do not approve this Proposal 4.

| ​ | 2025proxy statement | ​ | ​ | ​ | 67 | ​ |

TABLE OF CONTENTS PROPOSAL 4: SECOND AMENDMENT TO THE INCENTIVE PLAN

| ​ | Name and Position                                                     | ​ | ​ | DollarValue(1) |   |           |   | ​ | ​ | TargetPSUs (#) |   |           |   | ​ | ​ | MaximumPSUs (#) |   |           |   | ​ |
|:--|:----------------------------------------------------------------------|:--|:--|:---------------|:--|----------:|:--|:--|:--|:---------------|:--|----------:|:--|:--|:--|:----------------|:--|----------:|:--|:--|
| ​ | James B. ArcherPresident and Chief Executive Officer                  | ​ | ​ | ​              | $ | 2,025,269 | ​ | ​ | ​ | ​              | ​ | 2,169,643 | ​ | ​ | ​ | ​               | ​ | 2,339,286 | ​ | ​ |
| ​ | Jason VlacichChief Financial Officer and Chief Accounting Officer     | ​ | ​