A Form 4 filed on August 25, 2026, disclosed that Waters S. Davis IV, a director of Targa Resources Corp. (NYSE:TRGP), sold 2,400 shares of common stock across six tranches on August 21, 2026.

Key Highlights

  • Reporting person: Waters S. Davis IV, identified as a Director of Targa Resources Corp.
  • Total shares sold: 2,400 shares of common stock disposed of (code S) on August 21, 2026, across six separate price tranches.
  • Price range: Weighted average sale prices ranged from $296.3945 to $303.8142 per share, with individual transactions spanning $296.05 to $304.07.
  • Remaining direct holdings: Following the reported sales, Davis directly held 1,529 shares of common stock.
  • Indirect holdings: Davis also holds 4,554 shares indirectly through the Waters Davis Legacy Trust, of which he is co-trustee and co-beneficiary, according to the filing.

Director Davis Reports Six-Tranche Common Stock Sale at Targa Resources

According to the filing, Davis disposed of shares in six separate transactions on August 21, 2026, each reported with a weighted average price. The tranches were: 440 shares at a weighted average of $296.3945 (individual prices ranging from $296.05 to $296.87); 692 shares at $297.3792 (ranging from $297.24 to $297.54); 254 shares at $298.6809 (ranging from $298.24 to $298.88); 154 shares at $300.175 (ranging from $300.17 to $300.18); 270 shares at $302.4687 (ranging from $302.11 to $303.07); and 590 shares at $303.8142 (ranging from $303.35 to $304.07).

The filing notes that all six weighted average prices are subject to a full-information undertaking. According to the filing, "the reporting person undertakes to provide to Targa Resources Corp., any security holder of Targa Resources Corp., or the staff of the United States Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (1), (2), (3), (4), (5) and (6) to this Form 4."

All sales were reported as direct ownership disposals (code D). Following the six transactions, Davis's direct beneficial ownership stood at 1,529 shares. Separately, the filing discloses 4,554 shares held indirectly through the Waters Davis Legacy Trust, of which Davis is identified as co-trustee and co-beneficiary. No derivative securities transactions were reported in Table II of the filing.

What Was Disclosed

The Form 4 filed August 25, 2026, reported that Targa Resources director Waters S. Davis IV sold a total of 2,400 common shares on August 21, 2026, at weighted average prices between $296.3945 and $303.8142, leaving him with 1,529 directly held shares and 4,554 shares held indirectly through a trust.