IESC Form 4: Director discloses multiple August 2025 stock sales

Rhea-AI Filing Summary

IES Holdings (IESC) director disclosed multiple open-market sales of common stock on August 12-14, 2025. The Form 4 shows the reporting person, identified in the footnotes as Mr. Cleveland, sold shares across several transactions at prices ranging roughly from $336.70 to $356.10 per share. The table reports the reporting person's beneficial ownership following the reported transactions as 87,180 shares. The filing was submitted by one reporting person and is limited to non-derivative common stock sales; no purchases or derivative transactions are reported.

Insights

Financial Analyst

TL;DR: A director executed multiple market sales over three days, reducing reported holdings to 87,180 shares; no purchases or options disclosed.

The Form 4 documents concentrated selling activity by a director (Mr. Cleveland) on August 12-14, 2025, with reported sale prices spanning about $336.70 to $356.10. The disclosures are limited to routine open-market dispositions of common stock and do not show any derivative exercises or acquisitions. For investors, repeated sales by an insider can warrant attention but require context (total ownership, historical patterns, company events) which this filing does not provide.

Corporate Governance Expert

TL;DR: Multiple block sales by a director were reported on Form 4; filings are compliant but raise routine governance transparency questions.

The submission appears complete for the transactions it reports, including weighted-average prices and price ranges for each grouped sale. The filing is executed by an attorney-in-fact and lists the filer as a director. There are no amendments or derivative positions disclosed. From a governance perspective, this is a straightforward disclosure of insider liquidation rather than a corporate governance event.

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).

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^*

IES Holdings, Inc.

(Last) (First) (Middle)

107 W. FRANKLIN ST.

(Street)

ELKHART IN 46515

(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)
08/12/2025

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	08/12/2025		S		1,600	D	$345.63(1)	102,580	D
Common Stock	08/12/2025		S		1,646	D	$346.6(2)	100,934	D
Common Stock	08/12/2025		S		1,554	D	$347.64(3)	99,380	D
Common Stock	08/12/2025		S		4,803	D	$348.75(4)	94,577	D
Common Stock	08/12/2025		S		397	D	$349.76(5)	94,180	D
Common Stock	08/12/2025		S		48	D	$354.02(6)	94,132	D
Common Stock	08/13/2025		S		1,000	D	$345.62(7)	93,132	D
Common Stock	08/13/2025		S		1,000	D	$347.24(8)	92,132	D
Common Stock	08/13/2025		S		2,900	D	$348.35(9)	89,232	D
Common Stock	08/13/2025		S		96	D	$349.29(10)	89,136	D
Common Stock	08/13/2025		S		1,500	D	$356(11)	87,636	D
Common Stock	08/14/2025		S		300	D	$346.76(12)	87,336	D
Common Stock	08/14/2025		S		156	D	$336.7	87,180	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. On August 12, 2025 Mr. Cleveland sold 1,600 shares of Common Stock at a weighted average price of $345.63 per share. These shares were sold in multiple transactions at prices ranging from $345.02 to $346.00, 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. On August 12, 2025 Mr. Cleveland sold 1,646 shares of Common Stock at a weighted average price of $346.60 per share. These shares were sold in multiple transactions at prices ranging from $346.20 to $347.17, 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.

3. On August 12, 2025 Mr. Cleveland sold 1,554 shares of Common Stock at a weighted average price of $347.64 per share. These shares were sold in multiple transactions at prices ranging from $347.23 to $348.23, 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.

4. On August 12, 2025 Mr. Cleveland sold 4.803 shares of Common Stock at a weighted average price of $348.75 per share. These shares were sold in multiple transactions at prices ranging from $348.28 to $349.25, 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.

5. On August 12, 2025 Mr. Cleveland sold 397 shares of Common Stock at a weighted average price of $349.76 per share. These shares were sold in multiple transactions at prices ranging from $349.35 to $350.00, 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.

6. On August 12, 2025 Mr. Cleveland sold 48 shares of Common Stock at a weighted average price of $354.02 per share. These shares were sold in multiple transactions at prices ranging from $354.01 to $354.11, 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.

7. On August 13, 2025 Mr. Cleveland sold 1,000 shares of Common Stock at a weighted average price of $345.62 per share. These shares were sold in multiple transactions at prices ranging from $345.16 to $346.00, 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.

8. On August 13, 2025 Mr. Cleveland sold 1,000 shares of Common Stock at a weighted average price of $347.24 per share. These shares were sold in multiple transactions at prices ranging from $346.50 to $347.49, 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.

9. On August 13, 2025 Mr. Cleveland sold 2,900 shares of Common Stock at a weighted average price of $348.35 per share. These shares were sold in multiple transactions at prices ranging from $348.00 to $348.75, 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.

10. On August 13, 2025 Mr. Cleveland sold 96 shares of Common Stock at a weighted average price of $349.29 per share. These shares were sold in multiple transactions at prices ranging from $349.25 to $349.32, 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.

11. On August 13, 2025 Mr. Cleveland sold 1,500 shares of Common Stock at a weighted average price of $356.00 per share. These shares were sold in multiple transactions at prices ranging from $356.00 to $356.10, 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.

12. On August 14, 2025 Mr. Cleveland sold 300 shares of Common Stock at a weighted average price of $346.76 per share. These shares were sold in multiple transactions at prices ranging from $346.70 to $346.98, 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.

Remarks:

	/s/ Mary K. Newman, Attorney-in-Fact	08/14/2025
	** 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 activity was reported for IESC in this Form 4?

The Form 4 reports multiple sales of IES Holdings common stock by a director (Mr. Cleveland) on August 12-14, 2025, at prices ranging from about $336.70 to $356.10 per share.

How many shares does the reporting person beneficially own after the reported transactions?

The table in the filing shows the reporting person beneficially owned 87,180 shares following the reported transactions.

Were any derivative securities or option exercises reported in this filing for IESC?

No. Table II (derivative securities) contains no reported transactions; the filing lists only non-derivative common stock sales.

Who filed the Form 4 and what is their relationship to IES Holdings?

The Form 4 was filed by one reporting person and identifies the reporting person as a Director of IES Holdings; the explanatory notes refer to the seller as Mr. Cleveland.

Does the filing include price details for the sales?

Yes. Each grouped sale includes a weighted-average sale price and a price range for the multiple transactions (examples: weighted averages of $345.63, $346.60, $347.64, $348.75, $349.76, $354.02, $356.00, etc.).