<SEC-DOCUMENT>0001529628-20-000042.txt : 20200318
<SEC-HEADER>0001529628-20-000042.hdr.sgml : 20200318
<ACCEPTANCE-DATETIME>20200318085312
ACCESSION NUMBER:		0001529628-20-000042
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20180102
FILED AS OF DATE:		20200318
DATE AS OF CHANGE:		20200318

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			NEUMANN SUSAN E
		CENTRAL INDEX KEY:			0001687108

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-37936
		FILM NUMBER:		20723310

	MAIL ADDRESS:	
		STREET 1:		C/O SMART SAND, INC.
		STREET 2:		24 WATERWAY AVENUE, SUITE 350
		CITY:			THE WOODLANDS
		STATE:			TX
		ZIP:			77380

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Smart Sand, Inc.
		CENTRAL INDEX KEY:			0001529628
		STANDARD INDUSTRIAL CLASSIFICATION:	MINING, QUARRYING OF NONMETALLIC MINERALS (NO FUELS) [1400]
		IRS NUMBER:				452809926
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1725 HUGHES LANDING BOULEVARD
		STREET 2:		SUITE 800
		CITY:			THE WOODLANDS
		STATE:			TX
		ZIP:			77380
		BUSINESS PHONE:		(281) 231-2660

	MAIL ADDRESS:	
		STREET 1:		1725 HUGHES LANDING BOULEVARD
		STREET 2:		SUITE 800
		CITY:			THE WOODLANDS
		STATE:			TX
		ZIP:			77380
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>wf-form4_158453597549631.xml
<DESCRIPTION>FORM 4
<TEXT>
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    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2018-01-02</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001529628</issuerCik>
        <issuerName>Smart Sand, Inc.</issuerName>
        <issuerTradingSymbol>SND</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001687108</rptOwnerCik>
            <rptOwnerName>NEUMANN SUSAN E</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O SMART SAND, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>1725 HUGHES LANDING BLVD, SUITE 800</rptOwnerStreet2>
            <rptOwnerCity>THE WOODLANDS</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>77380</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>SEE REMARKS</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2020-03-16</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1726</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>59745</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
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            <transactionDate>
                <value>2020-03-16</value>
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                <transactionFormType>4</transactionFormType>
                <transactionCode>F</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
                <transactionShares>
                    <value>566</value>
                    <footnoteId id="F2"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.94</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
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            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>59179</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2018-01-02</value>
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            <transactionCoding>
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                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
                <transactionShares>
                    <value>238</value>
                    <footnoteId id="F3"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>7.36</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>60139</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Reflects the number of shares earned in respect of ROIC-based performance award shares originally granted on March 30, 2017. On March 16, 2020, the Issuer confirmed the achievement of the applicable performance metric, which was based on a relative Return on Invested Capital (ROIC) goal for the performance period commencing on January 1, 2017 and continuing through December 31, 2019. Following the conclusion of the three year performance period, the Compensation Committee confirmed the performance of the Company relative to these goals at 97.2%.</footnote>
        <footnote id="F2">Represents the number of shares withheld for tax purposes upon the vesting of ROIC-based performance shares originally granted to the Reporting Person on March 30, 2017.</footnote>
        <footnote id="F3">These shares were acquired under the Issuer's Employee Stock Purchase Plan in transactions that were exempt under both Rule 16b-3(d) and Rule 16b-3(c).</footnote>
    </footnotes>

    <remarks>The Reporting Person is Vice President of Accounting and Controller of the Issuer.</remarks>

    <ownerSignature>
        <signatureName>/s/ Lee E. Beckelman as Attorney-in-Fact for Susan E. Neumann</signatureName>
        <signatureDate>2020-03-18</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
