Company: TH
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0001104659-25-032818
Chunk: 46

Company: Target Hospitality Corp.
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 46
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(1) The number of shares shown in the table reflects the gross number of shares each NEO was entitled to receive upon vesting of the underlying RSUs. The Company reduced the number of shares issued to each NEO by automatically withholding a number of shares with a fair market value as of the vesting date sufficient to satisfy required tax withholdings. Value realized on vesting is calculated by multiplying the number of shares acquired on vesting by the fair market value of the shares on the respective vesting dates. Potential Payments Upon Termination or Change in Control Except with respect to Mr. Kalamaras, the following table discloses the potential payments and benefits under our compensation benefit plans and agreements with our Named Executive Officers that may be paid in each situation in the table below, assuming that the termination of employment or change in control of our Company occurred on December 31, 2024, the last business day of our fiscal year, and that our common stock was valued at the closing market price as of December 31, 2024 of $9.66. The actual amount of payments and benefits can only be determined at the time of such a termination or change in control, and therefore the actual amounts would vary from the estimated amounts in the tables below. In addition, the amount of payments and benefits that Named Executive Officers would actually receive may be materially less than the estimated amounts in the tables below because all amounts reported in the table below are calculated on a pre-tax basis. The amounts shown in the table do not include payments and benefits available generally to salaried employees, such as accrued vacation pay. Mr. Kalamaras’ employment with the Company terminated effective January 22, 2024. In connection with the termination of his employment, Mr. Kalamaras entered into a Separation and Release Agreement with the Company, as described under “Employment and Separation Agreements” below, which provided for separation benefits that were consistent with Mr. Kalamaras’ entitlements under his employment agreement. For Mr. Kalamaras, the table below discloses the actual amounts payable pursuant to his Separation and Release Agreement. Descriptions of the circumstances that would trigger payments or benefits to our NEOs under each of their respective employment, separation and equity award agreements and how such payments and benefits are determined follow this table.