[Form 4] Perma-Pipe International Holdings, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Form 4 Filing Details: Matthew Earl Lewicki, Chief Financial Officer of Perma-Pipe International Holdings (PPIH), reported a transaction dated June 24, 2025. The filing discloses a disposition of 333 shares of common stock at a price of $23.51 per share.

The transaction was coded as 'F', indicating shares were withheld by the issuer for tax withholding purposes related to the vesting of restricted stock. Following the transaction, Lewicki maintains direct beneficial ownership of 11,954 shares of common stock.

This routine transaction represents standard tax withholding practices for executive compensation and does not indicate a discretionary sale by the insider. The filing was signed by Lewicki on June 26, 2025, within the required reporting timeframe.

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^*

Lewicki Matthew Earl

(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)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
06/24/2025

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	06/24/2025		F(1)		333	D	$23.51	11,954	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. The shares of common stock underlying the restricted stock reported as disposed herein were withheld by the issuer in satisfaction of tax withholding obligations associated with the vesting of restricted stock.

	/s/ Matthew E. Lewicki	06/26/2025
	** 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 PPIH shares were disposed of by CFO Matthew Lewicki on June 24, 2025?

According to the Form 4 filing, CFO Matthew Lewicki disposed of 333 shares of PPIH common stock on June 24, 2025, at a price of $23.51 per share.

What was the reason for PPIH CFO's stock disposition in June 2025?

The shares were withheld by Perma-Pipe International Holdings (PPIH) to satisfy tax withholding obligations associated with the vesting of restricted stock, as explained in footnote 1 of the Form 4 filing.

How many PPIH shares does Matthew Lewicki own after the June 2025 transaction?

Following the reported transaction, Matthew Lewicki beneficially owns 11,954 shares of PPIH common stock directly (indicated by 'D' in the ownership form column).

What is Matthew Lewicki's position at PPIH?

Matthew Lewicki serves as the Chief Financial Officer of Perma-Pipe International Holdings, Inc. (PPIH), as indicated in Section 5 of the Form 4 filing.

When did Matthew Lewicki sign the Form 4 for PPIH?

Matthew Lewicki signed the Form 4 filing on June 26, 2025, two days after the transaction date and two days before the filing date with the SEC.