Perma-Pipe (PPIH) director Ibrahim Alkuwari receives 2,648 restricted shares

Rhea-AI Filing Summary

Alkuwari Ibrahim reported acquisition or exercise transactions in this Form 4 filing.

Perma-Pipe International Holdings, Inc. director Ibrahim Alkuwari received a grant of 2,648 shares of common stock as compensation. These are restricted shares that will vest on the first anniversary of the grant date. Following this award, he holds 9,965 common shares directly.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Alkuwari Ibrahim

Role null

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

Holdings After Transaction: Common Stock — 9,965 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Shares granted: 2,648 shares Grant price per share: $0.0000 per share Total holdings after grant: 9,965 shares +1 more

4 metrics

Shares granted 2,648 shares Restricted common stock award to director on June 24, 2026

Grant price per share $0.0000 per share Equity compensation grant, no cash paid

Total holdings after grant 9,965 shares Director’s direct common stock ownership following the award

Vesting schedule First anniversary of grant date Restricted shares vest one year after grant

Key Terms

Restricted shares, vest, grant date, Grant, award, or other acquisition, +1 more

5 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.

vest financial

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

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

grant date financial

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

The grant date is the day a company formally gives an employee or contractor the right to receive stock-based compensation, such as stock options or restricted shares. It matters to investors because it fixes key terms—like the price, the start of the ownership clock, and when the award will affect the company’s financial statements and share count—so it can influence dilution, reported expenses, and potential future selling pressure.

Grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

Common Stock financial

"security_title: 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.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/29/2026 - 01:21 PM Accepted by SEC EDGAR 06/29/2026 - 01:20 PM Learn about SEC filing dates

FAQ

What insider transaction did Perma-Pipe (PPIH) director Ibrahim Alkuwari report?

Director Ibrahim Alkuwari reported receiving 2,648 shares of Perma-Pipe common stock. The Form 4 identifies this as a grant or award, not an open-market purchase, reflecting equity-based compensation rather than a discretionary stock buy in the market.

Are Ibrahim Alkuwari’s new Perma-Pipe (PPIH) shares restricted or fully vested?

The 2,648 shares granted to Ibrahim Alkuwari are restricted shares. They vest on the first anniversary of the grant date, meaning he must wait one year before the restrictions lapse and the shares become fully vested and freely transferable.

How many Perma-Pipe (PPIH) shares does Ibrahim Alkuwari hold after this grant?

After the reported award, Ibrahim Alkuwari holds 9,965 shares of Perma-Pipe common stock directly. This total includes the newly granted 2,648 restricted shares, which will vest after one year from the grant date, according to the filing.

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 an equity compensation grant of 2,648 restricted common shares to director Ibrahim Alkuwari at a price of $0.00 per share.

Was cash paid for the Perma-Pipe (PPIH) shares granted to Ibrahim Alkuwari?

No cash was paid for these shares. The filing shows a transaction price per share of $0.0000 for the 2,648 common shares, indicating they were issued as a compensation grant rather than purchased in an open-market or privately negotiated cash transaction.

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^*

Alkuwari Ibrahim

(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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/24/2026		A		2,648(1)	A	$0	9,965	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 on the first anniversary of the grant date.

	/s/ Ibrahim Alkuwari	06/29/2026
	** 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)