[Form 4] IES Holdings, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Insider transaction summary for IESC: On 08/13/2025, Tontine Capital Overseas Master Fund II, L.P. ("TCP 2") sold 1,710 shares of IES Holdings, Inc. common stock at a weighted average price of $355.45 per share, in multiple transactions priced between $355.24 and $355.97. After the sale, the combined reporting persons (including affiliated entities and Jeffrey L. Gendell) beneficially own 10,913,844 shares. The Form 4 is filed jointly by several related entities and Mr. Gendell, who is identified as Executive Chairman and a 10% owner. The filing includes standard disclaimers about beneficial ownership and notes that Mr. Gendell and affiliated entities disavow ownership except as specifically described.

Insights

Corporate Governance Expert

TL;DR: A routine small-block sale by an affiliated fund; joint filing clarifies complex ownership but appears non-material to control.

The Form 4 reports a dispositions of 1,710 shares by TCP 2 at an average price of $355.45. The report is a joint filing by multiple affiliated entities and Jeffrey L. Gendell, reflecting layered ownership and the managing-member relationships among the entities. The disclosure and disclaimers follow standard Section 16 practice, clarifying direct versus indirect holdings and pro rata interests. The sale size is very small relative to the total indicated beneficial ownership of 10,913,844 shares, so it does not indicate a change in control or a material shift in governance.

Securities Analyst

TL;DR: Modest insider sale by a fund; transaction details disclosed precisely but unlikely to move investor value.

The filing specifies multiple transactions with a weighted average sale price of $355.45 and a reported price range of $355.24 to $355.97. The explanatory notes enumerate direct holdings across TCP, TCM, TM, TCP 2, TAA, TA, TCO and Mr. Gendell, totaling the reported beneficial ownership. Given the small number of shares sold (1,710) compared with the aggregated holdings listed (millions of shares), this is a routine liquidity event rather than a material redistribution of holdings. The filing provides the issuer or SEC staff the option to request further breakdown of per-price share counts, demonstrating transparency.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

GENDELL JEFFREY L ET AL

(Last) (First) (Middle)

1 SOUND SHORE DRIVE

(Street)

GREENWICH CT 06830

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
IES Holdings, Inc. [ IESC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Executive Chairman

3. Date of Earliest Transaction (Month/Day/Year)
08/13/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $0.01 per share	08/13/2025		S		1,710	D	$355.45(1)	10,913,844	I	See Footnotes(2)(3)(4)(5)(6)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

GENDELL JEFFREY L ET AL

(Last) (First) (Middle)

1 SOUND SHORE DRIVE

(Street)

GREENWICH CT 06830

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Executive Chairman

1. Name and Address of Reporting Person^*

TONTINE CAPITAL PARTNERS L P

(Last) (First) (Middle)

1 SOUND SHORE DRIVE

(Street)

GREENWICH CT 06830

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

TONTINE CAPITAL MANAGEMENT LLC

(Last) (First) (Middle)

1 SOUND SHORE DRIVE

(Street)

GREENWICH CT 06830

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

TONTINE MANAGEMENT LLC

(Last) (First) (Middle)

1 SOUND SHORE DRIVE

(Street)

GREENWICH CT 06830

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

TONTINE CAPITAL OVERSEAS MASTER FUND II, L.P.

(Last) (First) (Middle)

1 SOUND SHORE DRIVE

(Street)

GREENWICH CT 06830

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

TONTINE ASSET ASSOCIATES, L.L.C.

(Last) (First) (Middle)

1 SOUND SHORE DRIVE

(Street)

GREENWICH CT 06830

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Tontine Associates, LLC

(Last) (First) (Middle)

1 SOUND SHORE DRIVE

(Street)

GREENWICH CT 06830

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Tontine Capital Overseas GP, LLC

(Last) (First) (Middle)

1 SOUND SHORE DRIVE

(Street)

GREENWICH CT 06830

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. On August 13, 2025, TCP 2 sold 1,710 shares of Common Stock at a weighted average price of $355.45 per share. These shares were sold in multiple transactions at prices ranging from $355.24 to $355.97, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

2. This report is filed jointly by Tontine Capital Partners, L.P., a Delaware limited partnership ("TCP"), Tontine Capital Management, L.L.C., a Delaware limited liability company ("TCM"), Tontine Management, L.L.C., a Delaware limited liability company ("TM"), Tontine Capital Overseas Master Fund II, L.P., a Delaware limited partnership ("TCP 2"), Tontine Asset Associates, L.L.C., a Delaware limited liability company ("TAA"), Tontine Associates, L.L.C., a Delaware limited liability company ("TA"), Tontine Capital Overseas GP, L.L.C., a Delaware limited liability company ("TCO"), and Jeffrey L. Gendell ("Mr. Gendell"). Mr. Gendell is the managing member of: (a) TCM, the general partner of TCP; (b) TM; (c) TAA, the general partner of TCP 2; (d) TA; and (e) TCO.

3. TCP directly owns 5,614,644 shares of Common Stock, TCM directly owns 1,910,529 shares of Common Stock, TM directly owns 1,410,162 shares of Common Stock, TCP 2 directly owns 955,061 shares of Common Stock, TAA directly owns 96,891 shares of Common Stock, TA directly owns 640,057 shares of Common Stock, TCO directly owns 47,284 shares of Common Stock, Mr. Gendell directly owns 163,218 shares of Common Stock and 72,635 phantom stock units granted to him pursuant to the IES Holdings, Inc. 2006 Equity Incentive Plan, as amended and restated, and Mr. Gendell's adult children own 3,363 shares of Common Stock through trusts for which Mr. Gendell acts as trustee.

4. All of the foregoing securities may be deemed to be beneficially owned by Mr. Gendell. The foregoing securities held by TCP may be deemed to be beneficially owned by TCM. The foregoing securities held by TCP 2 may be deemed to be beneficially owned by TAA.

5. Mr. Gendell disclaims beneficial ownership of the Issuer's securities reported herein for purposes of Section 16(a) under the Securities Exchange Act of 1934, as amended, or otherwise, except as to securities directly owned by Mr. Gendell or representing Mr. Gendell's pro rata interest in, and interest in the profits of, TCM, TCP, TM, TCP 2, TAA, TA and TCO. TCM disclaims beneficial ownership of the Issuer's securities reported herein for purposes of Section 16(a) under the Securities Exchange Act of 1934, as amended, or otherwise, except as to securities directly owned by TCM or representing TCM's pro rata interest in, and interest in the profits of, TCP.

6. TAA disclaims beneficial ownership of the Issuer's securities reported herein for purposes of Section 16(a) under the Securities Exchange Act of 1934, as amended, or otherwise, except as to securities directly owned by TAA or representing TAA's pro rata interest in, and interest in the profits of, TCP 2. TA disclaims beneficial ownership of the Issuer's securities reported herein for purposes of Section 16(a) under the Securities Exchange Act of 1934, as amended, or otherwise, except as to securities directly owned by TA. TM disclaims beneficial ownership of the Issuer's securities reported herein for purposes of Section 16(a) under the Securities Exchange Act of 1934, as amended, or otherwise, except as to securities directly owned by TM. TCO disclaims beneficial ownership of the Issuer's securities reported herein for purposes of Section 16(a) under the Securities Exchange Act of 1934, as amended, or otherwise, except as to securities directly owned by TCO.

Remarks:

	Tontine Capital Partners, L.P., By: its General Partner, Tontine Capital Management, L.L.C., By: its Managing Member, /s/ Jeffrey L. Gendell	08/15/2025
	Tontine Capital Management, L.L.C., By: its Managing Member, /s/ Jeffrey L. Gendell	08/15/2025
	Tontine Management, L.L.C., By: its Managing Member, /s/ Jeffrey L. Gendell	08/15/2025
	Tontine Capital Overseas Master Fund II, L.P. By: its General Partner, Tontine Asset Associates, L.L.C., By: its Managing Member, /s/ Jeffrey L. Gendell	08/15/2025
	Tontine Asset Associates, L.L.C., By: its Managing Member, /s/ Jeffrey L. Gendell	08/15/2025
	Tontine Associates, L.L.C., By: its Managing Member, /s/ Jeffrey L. Gendell	08/15/2025
	Tontine Capital Overseas GP, L.L.C. By: its Managing Member,/s/ Jeffrey L. Gendell	08/15/2025
	/s/ Jeffrey L. Gendell	08/15/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction was reported for IES Holdings (IESC)?

The Form 4 reports that TCP 2 sold 1,710 shares of IES Holdings common stock on 08/13/2025 at a weighted average price of $355.45 per share.

Who filed the Form 4 for IESC and what is their role?

The report was filed jointly by affiliated entities including Tontine Capital Partners, L.P., Tontine Capital Management, L.L.C., related entities, and Jeffrey L. Gendell, who is identified as Executive Chairman and a 10% owner.

How many IESC shares are beneficially owned after the reported transaction?

Following the reported sale, the combined reporting persons beneficially own 10,913,844 shares.

At what price range were the shares sold in the IESC Form 4?

The shares were sold in multiple transactions at prices ranging from $355.24 to $355.97, with a weighted average of $355.45.

Does the Form 4 indicate a change in control of IESC?

No. The filing shows a small disposition of 1,710 shares versus total beneficial holdings of over 10.9 million shares, and contains standard disclaimers about beneficial ownership.