GENDELL JEFFREY L ET AL 4
4 · IES Holdings, Inc. · Filed May 15, 2026
Research Summary
AI-generated summary of this filing
IES Holdings (IESC) 10% Owner Jeffrey L. Gendell Sells Shares
What Happened
- Jeffrey L. Gendell, a 10% owner (and managing member of related Tontine entities), sold 54,361 shares of IES Holdings (IESC) in open-market transactions on May 13–14, 2026. The reported proceeds totaled approximately $37.7 million. Individual reported trades show weighted-average prices in the $692–$698 range.
- These were outright sales (code S) of shares directly held by Mr. Gendell rather than option exercises or gifts. Sales are often routine liquidity events and do not necessarily signal a change in company outlook.
Key Details
- Transaction dates: May 13, 2026 (15,000 shares @ weighted avg $692.71, $10,390,650) and May 14, 2026 (multiple trades totaling 39,361 shares at weighted averages between $683.09 and $698.03, aggregate ~$27.3M).
- Price range: filing footnotes indicate the multiple transactions were executed at prices ranging approximately from $692.27 to $698.12; the Form 4 reports weighted-average prices per line and offers to provide per-trade breakdowns on request.
- Shares owned after transaction: Mr. Gendell directly owned 76,964 shares before these sales; after selling 54,361 directly held shares he holds 22,603 direct shares (phantom stock units of 65,069 remain unchanged). Separate Tontine entities continue to hold large stakes (collectively ~10.34M shares across listed entities per the filing).
- Ownership/structure notes: The report is filed jointly with several Tontine entities; Mr. Gendell disclaims beneficial ownership of certain securities except as described in the footnotes (he is managing member of the related entities).
- Filing timeliness: Reported period trades occurred May 13–14 and the Form 4 was filed May 15, 2026, which appears to be timely under Section 16 reporting rules.
Context
- Because these were sales by a 10% owner and involved shares directly held by him (not exercises or awards), they primarily reflect disposition of existing stock rather than an acquisition signal. For investors, purchases are generally more informative about insider confidence; sales can be for many reasons (liquidity, diversification, estate planning), and the filing provides no explanation for the sales.
Insider Transaction Report
Form 4
GENDELL JEFFREY L ET AL
DirectorExecutive Chairman10% Owner
Transactions
- Sale
Common Stock, par value $0.01 per share
[F1][F2][F3][F4][F5][F6]2026-05-13$692.71/sh−15,000$10,390,650→ 10,525,005 total(indirect: See footnotes) - Sale
Common Stock, par value $0.01 per share
[F2][F3][F4][F5][F6]2026-05-14$683.09/sh−2,000$1,366,180→ 10,523,005 total(indirect: See footnotes) - Sale
Common Stock, par value $0.01 per share
[F7][F2][F3][F4][F5][F6]2026-05-14$692.90/sh−8,767$6,074,654→ 10,514,238 total(indirect: See footnotes) - Sale
Common Stock, par value $0.01 per share
[F8][F2][F3][F4][F5][F6]2026-05-14$693.89/sh−15,846$10,995,381→ 10,498,392 total(indirect: See footnotes) - Sale
Common Stock, par value $0.01 per share
[F9][F2][F3][F4][F5][F6]2026-05-14$694.82/sh−4,154$2,886,282→ 10,494,238 total(indirect: See footnotes) - Sale
Common Stock, par value $0.01 per share
[F10][F2][F3][F4][F5][F6]2026-05-14$697.47/sh−8,189$5,711,582→ 10,486,049 total(indirect: See footnotes) - Sale
Common Stock, par value $0.01 per share
[F11][F2][F3][F4][F5][F6]2026-05-14$698.03/sh−405$282,702→ 10,485,644 total(indirect: See footnotes)
Footnotes (11)
- [F1]All shares reported as sold in this Form 4 were shares directly held by Jeffrey L. Gendell ("Mr. Gendell"). The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $692.27 to $693.17, inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F10]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $696.89 to $697.84, inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F11]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $697.90 to $698.12, inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F2]This report is filed jointly by Tontine Capital Partners, L.P., a Delaware limited partnership ("TCP"), Tontine Capital Management, L.L.C., a Delaware limited liability company ("TCM"), Tontine Management, L.L.C., a Delaware limited liability company ("TM"), Tontine Capital Overseas Master Fund II, L.P., a Delaware limited partnership ("TCP 2"), Tontine Asset Associates, L.L.C., a Delaware limited liability company ("TAA"), Tontine Associates, L.L.C., a Delaware limited liability company ("TA"), Tontine Capital Overseas GP, L.L.C., a Delaware limited liability company ("TCO"), and Mr. Gendell. Mr. Gendell is the managing member of: (a) TCM, the general partner of TCP; (b) TM; (c) TAA, the general partner of TCP 2; (d) TA; and (e) TCO.
- [F3]TCP directly owns 5,524,391 shares of Common Stock, TCM directly owns 1,910,529 shares of Common Stock, TM directly owns 1,410,162 shares of Common Stock, TCP 2 directly owns 710,934 shares of Common Stock, TAA directly owns 96,891 shares of Common Stock, TA directly owns 640,057 shares of Common Stock, TCO directly owns 47,284 shares of Common Stock, Mr. Gendell directly owns 76,964 shares of Common Stock and 65,069 phantom stock units granted to him pursuant to the IES Holdings, Inc. 2006 Equity Incentive Plan, as amended and restated, and Mr. Gendell's adult children own 3,363 shares of Common Stock through trusts for which Mr. Gendell acts as trustee.
- [F4]All of the foregoing securities may be deemed to be beneficially owned by Mr. Gendell. The foregoing securities held by TCP may be deemed to be beneficially owned by TCM. The foregoing securities held by TCP 2 may be deemed to be beneficially owned by TAA.
- [F5]Mr. Gendell disclaims beneficial ownership of the Issuer's securities reported herein for purposes of Section 16(a) under the Securities Exchange Act of 1934, as amended, or otherwise, except as to securities directly owned by Mr. Gendell or representing Mr. Gendell's pro rata interest in, and interest in the profits of, TCM, TCP, TM, TCP 2, TAA, TA and TCO. TCM disclaims beneficial ownership of the Issuer's securities reported herein for purposes of Section 16(a) under the Securities Exchange Act of 1934, as amended, or otherwise, except as to securities directly owned by TCM or representing TCM's pro rata interest in, and interest in the profits of, TCP.
- [F6]TAA disclaims beneficial ownership of the Issuer's securities reported herein for purposes of Section 16(a) under the Securities Exchange Act of 1934, as amended, or otherwise, except as to securities directly owned by TAA or representing TAA's pro rata interest in, and interest in the profits of, TCP 2. TA disclaims beneficial ownership of the Issuer's securities reported herein for purposes of Section 16(a) under the Securities Exchange Act of 1934, as amended, or otherwise, except as to securities directly owned by TA. TM disclaims beneficial ownership of the Issuer's securities reported herein for purposes of Section 16(a) under the Securities Exchange Act of 1934, as amended, or otherwise, except as to securities directly owned by TM. TCO disclaims beneficial ownership of the Issuer's securities reported herein for purposes of Section 16(a) under the Securities Exchange Act of 1934, as amended, or otherwise, except as to securities directly owned by TCO.
- [F7]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $692.41 to $693.37, inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F8]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $693.52 to $694.45, inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F9]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $694.54 to $695.17, inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.