IES Holdings (IESC) director takes share grant as board retainer

Rhea-AI Filing Summary

Baldock Jennifer A reported acquisition or exercise transactions in this Form 4 filing.

IES Holdings director Jennifer A. Baldock received 56 shares of IES Holdings, Inc. common stock as an equity award. The shares were granted under the IES Holdings, Inc. 2006 Equity Incentive Plan after she elected to take part of her board retainer in stock instead of cash or phantom stock units.

After this grant, she holds 5,579 common shares directly. She also has an additional 375 common shares held indirectly through a family limited liability company, where she is a co-manager.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Baldock Jennifer A

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	56	$0.00	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 5,579 shares (Direct); Common Stock — 375 shares (Indirect, Held in Family LLC)

Footnotes (1)

1. Represents shares of common stock granted pursuant to the IES Holdings, Inc. 2006 Equity Incentive Plan, as amended and restated upon Ms. Baldock electing to receive shares in lieu of cash or phantom stock units for that portion of her retainer. The reporting person is a co-manager of the family limited liability company that owns the reported securities.

Key Figures

Equity award: 56 shares Direct holdings after grant: 5,579 shares Indirect holdings: 375 shares

3 metrics

Equity award 56 shares Common stock granted under 2006 Equity Incentive Plan

Direct holdings after grant 5,579 shares Common stock held directly by Jennifer A. Baldock

Indirect holdings 375 shares Common stock held in family limited liability company

Key Terms

2006 Equity Incentive Plan, phantom stock units, family limited liability company

3 terms

2006 Equity Incentive Plan financial

"granted pursuant to the IES Holdings, Inc. 2006 Equity Incentive Plan"

phantom stock units financial

"in lieu of cash or phantom stock units for that portion of her retainer"

Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.

family limited liability company financial

"co-manager of the family limited liability company that owns the reported securities"

Form 4 Insider Transactions: What Each Field Means →

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^*

Baldock Jennifer A

(Last) (First) (Middle)

13131 DAIRY ASHFORD ROAD

SUITE 500

(Street)

SUGAR LAND TEXAS 77478

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026

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

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

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

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)	04/01/2026		A		56	A	$0	5,579	D
Common Stock								375	I	Held in Family LLC(2)

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 shares of common stock granted pursuant to the IES Holdings, Inc. 2006 Equity Incentive Plan, as amended and restated upon Ms. Baldock electing to receive shares in lieu of cash or phantom stock units for that portion of her retainer.

2. The reporting person is a co-manager of the family limited liability company that owns the reported securities.

Remarks:

	/s/ Mary K. Newman, Attorney-in-Fact	04/02/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did IES Holdings (IESC) director Jennifer A. Baldock report?

Jennifer A. Baldock reported receiving 56 shares of IES Holdings common stock as an equity award. The shares were granted under the company’s 2006 Equity Incentive Plan as part of her board retainer in stock rather than cash or phantom units.

How many IES Holdings (IESC) shares does Jennifer A. Baldock own after this Form 4?

After the reported grant, Jennifer A. Baldock directly owns 5,579 shares of IES Holdings common stock. She also has an indirect interest in 375 additional shares held by a family limited liability company where she serves as a co-manager.

What is the nature of the 56-share award to the IES Holdings (IESC) director?

The 56-share award represents common stock granted under the IES Holdings, Inc. 2006 Equity Incentive Plan. Ms. Baldock elected to receive these shares instead of cash or phantom stock units for a portion of her director retainer, making it compensation-related, not an open-market purchase.

How are some of Jennifer A. Baldock’s IES Holdings (IESC) shares held?

In addition to directly held shares, 375 IES Holdings common shares are held in a family limited liability company. According to the filing footnote, Ms. Baldock is a co-manager of this family LLC, which owns the reported indirect securities.

Is the IES Holdings (IESC) Form 4 transaction a market buy or a grant?

The Form 4 reflects a grant, not a market purchase. Jennifer A. Baldock received 56 shares of IES Holdings common stock as a grant under the company’s 2006 Equity Incentive Plan, tied to her election to take part of her director retainer in stock.