STOCK TITAN

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

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
4
Rhea-AI Filing Summary

Badger Meter, Inc. (BMI) – Form 4 filing: Director Todd A. Adams reported the automatic issuance of 65.32 phantom stock units on 07/01/2025. These units, equal in value to common shares, were credited to his Director Deferred Compensation Plan as payment of the Q3-2025 cash retainer of $16,000, valued at the 06/30/2025 closing price of $244.95 per share. Following the transaction, Adams now holds 15,694.767 phantom units, recorded as direct ownership. Phantom stock is settled in cash once the director leaves the board, so no immediate share issuance or market purchase occurs. The filing reflects routine board compensation rather than an open-market insider buy or sell and is unlikely to materially affect BMI’s share float or signaling dynamics.

Badger Meter, Inc. (BMI) – Comunicazione Form 4: Il direttore Todd A. Adams ha segnalato l'emissione automatica di 65,32 unità di azioni fantasma il 01/07/2025. Queste unità, di valore equivalente alle azioni ordinarie, sono state accreditate sul suo Piano di Compensazione Differita per Direttori come pagamento del compenso in contanti per il terzo trimestre 2025 di 16.000 $, valutato al prezzo di chiusura del 30/06/2025 di 244,95 $ per azione. Dopo questa operazione, Adams detiene 15.694,767 unità fantasma, registrate come proprietà diretta. Le azioni fantasma vengono liquidate in contanti al momento dell'uscita del direttore dal consiglio, quindi non avviene alcuna emissione immediata di azioni né acquisto sul mercato. La comunicazione riflette una normale compensazione del consiglio e non un acquisto o vendita da parte di un insider sul mercato aperto, pertanto è improbabile che influisca in modo significativo sul flottante o sulle dinamiche di segnalazione di BMI.

Badger Meter, Inc. (BMI) – Presentación del Formulario 4: El director Todd A. Adams informó la emisión automática de 65,32 unidades de acciones fantasma el 01/07/2025. Estas unidades, equivalentes en valor a acciones comunes, fueron acreditadas en su Plan de Compensación Diferida para Directores como pago de la retención en efectivo del tercer trimestre de 2025 por 16.000 $, valoradas al precio de cierre del 30/06/2025 de 244,95 $ por acción. Tras la transacción, Adams posee ahora 15.694,767 unidades fantasma, registradas como propiedad directa. Las acciones fantasma se liquidan en efectivo cuando el director deja la junta, por lo que no hay emisión inmediata de acciones ni compra en el mercado. La presentación refleja una compensación rutinaria del consejo y no una compra o venta de un insider en el mercado abierto, por lo que es poco probable que afecte materialmente el flotante o la dinámica de señalización de BMI.

Badger Meter, Inc. (BMI) – Form 4 제출: 이사 Todd A. Adams는 2025년 7월 1일에 자동으로 65.32개의 팬텀 스톡 유닛이 발행되었음을 보고했습니다. 이 유닛들은 보통주와 동일한 가치로, 그의 이사 이연 보상 계획에 2025년 3분기 현금 보수인 16,000달러 지급으로 적립되었으며, 2025년 6월 30일 종가인 주당 244.95달러를 기준으로 평가되었습니다. 이 거래 후 Adams는 15,694.767개의 팬텀 유닛을 직접 소유로 보유하고 있습니다. 팬텀 스톡은 이사가 이사회에서 물러날 때 현금으로 정산되므로 즉각적인 주식 발행이나 시장 매수는 발생하지 않습니다. 이번 제출은 일상적인 이사회 보상에 관한 것이며, 공개 시장에서 내부자의 매수 또는 매도와는 무관하여 BMI의 유통 주식 수나 신호에 큰 영향을 미치지 않을 것으로 보입니다.

Badger Meter, Inc. (BMI) – Dépôt du formulaire 4 : Le directeur Todd A. Adams a déclaré l'émission automatique de 65,32 unités d'actions fantômes le 01/07/2025. Ces unités, équivalentes en valeur aux actions ordinaires, ont été créditées sur son Plan de Rémunération Différée des Administrateurs en paiement de la rémunération en espèces du troisième trimestre 2025 de 16 000 $, évaluée au cours de clôture du 30/06/2025 à 244,95 $ par action. Suite à cette opération, Adams détient désormais 15 694,767 unités fantômes, enregistrées en tant que propriété directe. Les actions fantômes sont réglées en espèces lorsque l'administrateur quitte le conseil, il n'y a donc pas d'émission immédiate d'actions ni d'achat sur le marché. Ce dépôt reflète une rémunération courante du conseil plutôt qu'un achat ou une vente par un initié sur le marché ouvert, et il est peu probable qu'il affecte significativement le flottant ou la dynamique de signalement de BMI.

Badger Meter, Inc. (BMI) – Form 4 Meldung: Direktor Todd A. Adams meldete die automatische Ausgabe von 65,32 Phantom-Aktieneinheiten am 01.07.2025. Diese Einheiten, die dem Wert von Stammaktien entsprechen, wurden seinem Director Deferred Compensation Plan als Zahlung der Barvergütung für das dritte Quartal 2025 in Höhe von 16.000 $ gutgeschrieben, bewertet zum Schlusskurs am 30.06.2025 von 244,95 $ pro Aktie. Nach der Transaktion hält Adams nun 15.694,767 Phantom-Einheiten, die als direkter Besitz verbucht sind. Phantom-Aktien werden in bar ausgeglichen, sobald der Direktor den Vorstand verlässt, es erfolgt also keine sofortige Aktienausgabe oder Marktaufnahme. Die Meldung spiegelt eine routinemäßige Vorstandsvergütung wider und ist kein Insider-Kauf oder -Verkauf am offenen Markt, daher wird sie voraussichtlich keine wesentlichen Auswirkungen auf den Streubesitz oder die Signaldynamik von BMI haben.

Positive
  • Director’s equity-linked compensation grows, marginally strengthening alignment with shareholders without issuing new shares.
Negative
  • No open-market insider buying; therefore, the filing provides limited insight into management’s view on valuation.

Insights

TL;DR: Routine phantom-stock grant; aligns incentives, negligible market effect.

The transaction represents a standard quarterly retainer conversion to phantom shares under BMI’s non-employee director plan. Because phantom units are settled in cash, there is no dilution or insider trading signal. The incremental 65-unit addition is <1% of Adams’ existing 15.7k phantom balance and immaterial relative to BMI’s ~29 million shares outstanding. Governance wise, the grant maintains director–shareholder alignment without cash outlay by the company beyond the normal fee.

TL;DR: Neutral event; no buy/sell signal, nothing to change positioning.

Investors should view this Form 4 as administrative. There is no open-market purchase indicating bullish conviction, nor a sale suggesting caution. The $16k retainer conversion is a predictable board expense. Liquidity, valuation, and operating fundamentals remain the key drivers for BMI; this filing does not impact earnings, cash flow, or capital structure.

Badger Meter, Inc. (BMI) – Comunicazione Form 4: Il direttore Todd A. Adams ha segnalato l'emissione automatica di 65,32 unità di azioni fantasma il 01/07/2025. Queste unità, di valore equivalente alle azioni ordinarie, sono state accreditate sul suo Piano di Compensazione Differita per Direttori come pagamento del compenso in contanti per il terzo trimestre 2025 di 16.000 $, valutato al prezzo di chiusura del 30/06/2025 di 244,95 $ per azione. Dopo questa operazione, Adams detiene 15.694,767 unità fantasma, registrate come proprietà diretta. Le azioni fantasma vengono liquidate in contanti al momento dell'uscita del direttore dal consiglio, quindi non avviene alcuna emissione immediata di azioni né acquisto sul mercato. La comunicazione riflette una normale compensazione del consiglio e non un acquisto o vendita da parte di un insider sul mercato aperto, pertanto è improbabile che influisca in modo significativo sul flottante o sulle dinamiche di segnalazione di BMI.

Badger Meter, Inc. (BMI) – Presentación del Formulario 4: El director Todd A. Adams informó la emisión automática de 65,32 unidades de acciones fantasma el 01/07/2025. Estas unidades, equivalentes en valor a acciones comunes, fueron acreditadas en su Plan de Compensación Diferida para Directores como pago de la retención en efectivo del tercer trimestre de 2025 por 16.000 $, valoradas al precio de cierre del 30/06/2025 de 244,95 $ por acción. Tras la transacción, Adams posee ahora 15.694,767 unidades fantasma, registradas como propiedad directa. Las acciones fantasma se liquidan en efectivo cuando el director deja la junta, por lo que no hay emisión inmediata de acciones ni compra en el mercado. La presentación refleja una compensación rutinaria del consejo y no una compra o venta de un insider en el mercado abierto, por lo que es poco probable que afecte materialmente el flotante o la dinámica de señalización de BMI.

Badger Meter, Inc. (BMI) – Form 4 제출: 이사 Todd A. Adams는 2025년 7월 1일에 자동으로 65.32개의 팬텀 스톡 유닛이 발행되었음을 보고했습니다. 이 유닛들은 보통주와 동일한 가치로, 그의 이사 이연 보상 계획에 2025년 3분기 현금 보수인 16,000달러 지급으로 적립되었으며, 2025년 6월 30일 종가인 주당 244.95달러를 기준으로 평가되었습니다. 이 거래 후 Adams는 15,694.767개의 팬텀 유닛을 직접 소유로 보유하고 있습니다. 팬텀 스톡은 이사가 이사회에서 물러날 때 현금으로 정산되므로 즉각적인 주식 발행이나 시장 매수는 발생하지 않습니다. 이번 제출은 일상적인 이사회 보상에 관한 것이며, 공개 시장에서 내부자의 매수 또는 매도와는 무관하여 BMI의 유통 주식 수나 신호에 큰 영향을 미치지 않을 것으로 보입니다.

Badger Meter, Inc. (BMI) – Dépôt du formulaire 4 : Le directeur Todd A. Adams a déclaré l'émission automatique de 65,32 unités d'actions fantômes le 01/07/2025. Ces unités, équivalentes en valeur aux actions ordinaires, ont été créditées sur son Plan de Rémunération Différée des Administrateurs en paiement de la rémunération en espèces du troisième trimestre 2025 de 16 000 $, évaluée au cours de clôture du 30/06/2025 à 244,95 $ par action. Suite à cette opération, Adams détient désormais 15 694,767 unités fantômes, enregistrées en tant que propriété directe. Les actions fantômes sont réglées en espèces lorsque l'administrateur quitte le conseil, il n'y a donc pas d'émission immédiate d'actions ni d'achat sur le marché. Ce dépôt reflète une rémunération courante du conseil plutôt qu'un achat ou une vente par un initié sur le marché ouvert, et il est peu probable qu'il affecte significativement le flottant ou la dynamique de signalement de BMI.

Badger Meter, Inc. (BMI) – Form 4 Meldung: Direktor Todd A. Adams meldete die automatische Ausgabe von 65,32 Phantom-Aktieneinheiten am 01.07.2025. Diese Einheiten, die dem Wert von Stammaktien entsprechen, wurden seinem Director Deferred Compensation Plan als Zahlung der Barvergütung für das dritte Quartal 2025 in Höhe von 16.000 $ gutgeschrieben, bewertet zum Schlusskurs am 30.06.2025 von 244,95 $ pro Aktie. Nach der Transaktion hält Adams nun 15.694,767 Phantom-Einheiten, die als direkter Besitz verbucht sind. Phantom-Aktien werden in bar ausgeglichen, sobald der Direktor den Vorstand verlässt, es erfolgt also keine sofortige Aktienausgabe oder Marktaufnahme. Die Meldung spiegelt eine routinemäßige Vorstandsvergütung wider und ist kein Insider-Kauf oder -Verkauf am offenen Markt, daher wird sie voraussichtlich keine wesentlichen Auswirkungen auf den Streubesitz oder die Signaldynamik von BMI haben.

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
Estimated average burden
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*
Fouts John Louis

(Last) (First) (Middle)
13131 DAIRY ASHFORD ROAD
SUITE 500

(Street)
SUGAR LAND TX 77478

(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 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
07/01/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
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(1) 07/01/2025 A 173 A $0 8,053 D
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
Explanation of Responses:
1. Represents Phantom Stock Units ("PSUs") granted pursuant to the IES Holdings, Inc. ("IES") 2006 Equity Incentive Plan, as amended and restated (the "2006 Equity Incentive Plan") upon Ms. Baldockelecting to receive PSUs in lieu of cash or common stock for that portion of her retainer. Each unit converts to one share of IES common stock when either (i) Ms. Baldock leaves the board of directors for anyreason, or (ii) upon a change of control as defined in the 2006 Equity Incentive Plan.
Remarks:
/s/ Mary K. Newman, Attorney-in-Fact 07/02/2025
** 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 did BMI Director Todd Adams report in the Form 4?

He acquired 65.32 phantom stock units on 07/01/2025 as part of his Q3-2025 board retainer.

What is the value of the phantom stock units acquired?

The units were valued at $244.95 each, totaling approximately $16,000.

How many phantom stock units does Adams own after the transaction?

He now beneficially owns 15,694.767 phantom units.

Do phantom stock units dilute existing BMI shareholders?

No. Phantom units are cash-settled and do not create new common shares.

Does this Form 4 signal a change in BMI’s outlook?

The filing is routine compensation and is unlikely to influence the company’s strategic or financial outlook.
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