Company: TH
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0001104659-25-032818
Chunk: 45

Company: Target Hospitality Corp.
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 45
---
2023 and ends February 28, 2026. For the 2024 PSUs the performance period for the TSR component begins on January 1, 2024 and ends on December 31, 2026 and for the Qualifying EBITDA component begins on February 29, 2024 and ends February 28, 2027. Shares shown in the table with respect to the May/July 2022 PSUs reflect target performance, shares shown in the table with respect to the2023 PSUs reflect target performance and shares shown in the table with respect to 2024 PSUs reflect target performance. (5) Pursuant to the terms of Mr. Kalamaras’ Separation Agreement and Release, each of the stock options, RSUs and PSUs presented remained outstanding following the termination of Mr. Kalamaras’ employment with the Company and continued to vest according to their terms and, in the case of PSUs, subject to actual achievement of applicable performance measures through January 22, 2025. Thereafter, each outstanding equity award or portion thereof that was not vested as of January 22, 2025 was forfeited, with vested stock options remaining exercisable for 90 days. (6) PSUs granted in February 2022 were earned based on the performance period that began on January 1, 2022 and ended on December 31, 2024. The number of shares issuable pursuant to the PSUs granted in February 2022 was determined in March 2025 and remained subject to service-based vesting through February 24, 2025. Amount reflects maximum performance of 150%.

| ​ | 48 | ​ | ​ | ​ | investors.targethospitality.com | ​ |

TABLE OF CONTENTS EXECUTIVE COMPENSATION

Option Exercises and Stock Vested in Fiscal Year 2024 The following table sets forth information concerning stock options and stock appreciation rights exercised and RSU awards vested during 2024 for our Named Executive Officers.

| ​ 
 ​ | ​                 
 Name              | ​ 
 ​ | ​ 
 ​ | Option/SAR Awards                        
 Number of SharesAcquired on Exercise (#) |   |         |   | ​ | ​ | Value Realizedon Exercise ($) |   |           |   | ​ 
 ​ | ​ 
 ​ | Stock Awards(1)                         
 Number of SharesAcquired on Vesting (#) |   |         |   | ​ | ​ | Value Realizedon Vesting ($) |   |