Perma-Pipe Strengthens CEO Retention with $1M+ Stock Award Package

Rhea-AI Filing Summary

Perma-Pipe International Holdings (PPIH) reported a Form 4 filing disclosing insider trading activity by President & CEO Saleh N. Sagr on June 25, 2025. The executive was granted 29,259 restricted shares of common stock at $0 per share as part of an equity compensation package.

Key details of the transaction:

• The restricted shares vest over a three-year period, with 1/3 vesting on each anniversary of the grant date
• Following the transaction, Sagr directly owns 51,061 shares of PPIH common stock
• The shares were acquired through an award (Transaction Code: A) rather than an open market purchase

This equity grant appears to be part of the company's executive compensation program, aligning the CEO's interests with shareholders through a long-term vesting schedule.

Positive

• CEO Saleh N. Sagr received 29,259 restricted shares as performance-based compensation, demonstrating long-term alignment with shareholder interests through 3-year vesting schedule

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

OMB APPROVAL

OMB Number:			3235-0287
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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^*

Sagr Saleh Nehad Saleh

(Last) (First) (Middle)

25025 INTERSTATE 45

SUITE 200

(Street)

THE WOODLANDS TX 77380

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Perma-Pipe International Holdings, Inc. [ PPIH ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
06/25/2025

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	06/25/2025		A(1)		29,259	A	$0	51,061	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. Restricted shares that vest 1/3 on each of the first three anniversaries of the grant date.

	/s/ Saleh N. Sagr	06/27/2025
	** 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

How many restricted shares did PPIH CEO Sagr Saleh Nehad Saleh receive on June 25, 2025?

According to the Form 4 filing, PPIH CEO Sagr Saleh Nehad Saleh received 29,259 restricted shares on June 25, 2025. These shares were awarded at a price of $0.

What is the vesting schedule for PPIH CEO's restricted shares granted in June 2025?

The restricted shares vest in three equal installments, with 1/3 of the shares vesting on each of the first three anniversaries of the grant date, as disclosed in the footnotes of the Form 4 filing.

How many total shares of PPIH does CEO Sagr Saleh own after the June 2025 grant?

Following the restricted stock grant on June 25, 2025, CEO Sagr Saleh directly owns 51,061 shares of PPIH common stock, as reported in Table I of the Form 4 filing.

What type of ownership does PPIH CEO have for the newly granted shares?

The Form 4 filing indicates that CEO Sagr Saleh has Direct (D) ownership of the newly granted restricted shares, as shown in column 6 of Table I of the filing.