Is Nancy Zakhour’s Perma-Pipe (PPIH) share grant an open-market purchase?

No, the 2,648 Perma-Pipe shares reported for Nancy Zakhour are a grant, not an open-market purchase. The Form 4 labels the code as a grant or award acquisition with a price of $0.00 per share, indicating compensation-related restricted stock.

Director at Perma-Pipe (PPIH) receives 2,648 restricted stock shares

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Zakhour Nancy reported acquisition or exercise transactions in this Form 4 filing.

Perma-Pipe International Holdings, Inc. director Nancy Zakhour received a grant of 2,648 shares of Common Stock at a price of $0.00 per share. These are restricted shares that vest on the first anniversary of the grant date. After this award, she directly holds 3,224 common shares, reflecting a compensation-related equity grant rather than an open-market purchase.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Zakhour Nancy

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	2,648	$0.00	--

Holdings After Transaction: Common Stock — 3,224 shares (Direct, null)

Footnotes (1)

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Key Figures

Restricted stock grant: 2,648 shares Grant price: $0.00 per share Total shares after grant: 3,224 shares +1 more

4 metrics

Restricted stock grant 2,648 shares Common Stock granted to director on June 24, 2026

Grant price $0.00 per share Equity award, not an open-market purchase

Total shares after grant 3,224 shares Director’s direct Perma-Pipe holdings following the award

Vesting schedule First anniversary of grant date Footnote: restricted shares vest after one year

Key Terms

Restricted shares, Grant, award, or other acquisition, Common Stock, Vesting

4 terms

Restricted shares financial

"Restricted shares that vest on the first anniversary of the grant date."

Restricted shares are company stock that cannot be sold or transferred immediately because they are subject to legal or contractual limits, such as a required holding period or performance conditions. They matter to investors because these locked-up shares can affect a company’s available stock for trading, future dilution, and insider incentives—imagine a gift that can’t be cashed until certain conditions are met, which changes when and how much supply can suddenly enter the market.

Grant, award, or other acquisition financial

"Transaction code A is described as Grant, award, or other acquisition."

Common Stock financial

"The security title reported is Common Stock."

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

Vesting financial

"Restricted shares that vest on the first anniversary of the grant date."

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/26/2026 - 04:50 PM Accepted by SEC EDGAR 06/26/2026 - 04:50 PM

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^*

Zakhour Nancy

(Last)

(First)

(Middle)

2445 TECHNOLOGY FOREST BLVD

SUITE 1010

(Street)

THE WOODLANDS

TEXAS

77381

(City)

(State)

(Zip)

UNITED STATES

(Country)

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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/24/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	06/24/2026		A⁽¹⁾		2,648	A	$0	3,224	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Restricted shares that vest on the first anniversary of the grant date.

	/s/ Nancy Zakhour	06/26/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Perma-Pipe (PPIH) report for Nancy Zakhour?

Perma-Pipe reported that director Nancy Zakhour received a grant of 2,648 shares of Common Stock. The shares were awarded at $0.00 per share as equity compensation and are structured as restricted stock that vests after one year from the grant date.

When do Nancy Zakhour’s restricted Perma-Pipe (PPIH) shares vest?

The restricted shares vest on the first anniversary of the grant date. The footnote specifies that the 2,648 granted shares are restricted stock subject to a one-year vesting period, so they become fully owned after that anniversary if conditions are satisfied.

How many Perma-Pipe (PPIH) shares does Nancy Zakhour hold after this grant?

Following the grant, Nancy Zakhour directly holds a total of 3,224 Perma-Pipe common shares. This figure, disclosed in the Form 4, represents her direct ownership position after adding the 2,648 restricted shares awarded as compensation.

What does transaction code A mean in the Perma-Pipe (PPIH) Form 4?

Transaction code A on the Form 4 indicates a grant, award, or other acquisition of securities. In this case, it reflects 2,648 restricted common shares granted to director Nancy Zakhour at $0.00 per share as part of her compensation package.