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

Rhea-AI Filing Summary

Janzen Kelly, a director of IES Holdings, Inc. (IESC), reported the acquisition of 64 shares of the company’s common stock on 10/01/2025. The shares were granted under the 2006 Equity Incentive Plan as part of Ms. Janzen’s election to receive shares in lieu of cash or phantom stock units for a portion of her retainer. The Form 4 shows the shares were received at a price of $0 and that Ms. Janzen beneficially owned 111 shares following the transaction. The filing was signed by an attorney-in-fact on behalf of the reporting person on 10/03/2025.

Positive

• Director election to receive equity aligns compensation with shareholders by converting retainer to 64 shares
• Shares issued under existing plan (2006 Equity Incentive Plan) — follows established governance framework

Negative

• None.

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

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

1. Name and Address of Reporting Person^*

Janzen Kelly

(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)
10/01/2025

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)	10/01/2025		A		64	A	$0	111	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 shares of common stock granted pursuant to the IES Holdings, Inc. ("IES") 2006 Equity Incentive Plan, as amended and restated (the "2006 Equity Incentive Plan") upon Ms. Janzen electing to receive shares in lieu of cash or phantom stock units for that portion of her retainer.

Remarks:

	/s/ Mary K. Newman, Attorney-in-Fact	10/03/2025
	** 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 transaction did IESC director Janzen Kelly report?

Ms. Janzen reported acquiring 64 shares of IES Holdings common stock on 10/01/2025 under the 2006 Equity Incentive Plan.

At what price were the shares acquired in the Form 4 for IESC?

The Form 4 reports the shares were received at a price of $0 (granted in lieu of cash/phantom units).

How many IESC shares did Janzen Kelly beneficially own after the transaction?

Following the reported transaction, Ms. Janzen beneficially owned 111 shares.

Under which plan were the IESC shares granted?

The shares were granted pursuant to the IES Holdings, Inc. 2006 Equity Incentive Plan, as amended and restated.

When was the Form 4 signed and filed for the Janzen Kelly transaction?

The Form 4 includes a signature by an attorney-in-fact dated 10/03/2025.