Target Hospitality Corp. 8-K

What Happened
Target Hospitality Corp. announced on January 12, 2026 that the Board appointed Cyril J. Hahamski as Chief Accounting Officer (CAO), effective the same day. Jason P. Vlacich ceased serving as CAO but will continue as the Company’s Chief Financial Officer (CFO). The company approved an employment agreement with Mr. Hahamski that defines his term, pay, incentives and separation benefits.

Key Details

• Mr. Hahamski is 51 and brings over 25 years of accounting and finance experience, including roles at Anew Climate (VP Accounting & Finance), ALS Limited (Global Group Controller), Buckeye Partners (Assistant Controller/Chief FERC Compliance Officer), and PricewaterhouseCoopers. He has an MBA and is a CPA.
• Employment term: initial term from Jan 12, 2026 through Dec 31, 2027, with automatic one-year extensions unless 120 days’ non-renewal notice is given.
• Compensation and incentives: $300,000 annual base salary (electable in RSUs), 50% target annual cash bonus, $150,000 target annual long-term equity award opportunity, and a $75,000 one-time sign-on bonus paid in two installments at 6 and 12 months.
• Severance and change-in-control: if terminated without Cause or for Good Reason, Mr. Hahamski receives 12 months’ cash severance (salary + target bonus), COBRA coverage and continued vesting; within 12 months after a Change in Control the payout is a lump sum equal to 200% of base salary plus target bonus, 18 months COBRA cost, and immediate vesting of time-based equity.
• The appointment included a 12-month non‑compete and non‑solicit provision. An amendment to Mr. Vlacich’s employment agreement (reflecting title change) will be filed with the company’s 2025 Form 10-K.

Why It Matters
This is a management-level accounting leadership change—material for investors because the CAO helps oversee SEC reporting, internal controls and financial close processes that affect earnings, revenue reporting and regulatory compliance. The appointment brings an experienced public-company accounting executive with a focus on system integrations and public-company readiness, which could affect the company’s financial reporting and operational controls. Compensation and severance terms are defined and could have modest near-term cash/equity impacts if sign-on or severance events occur, while the CFO remaining in place supports continuity in financial leadership.