GENDELL JEFFREY L ET AL 4

What Happened

• Jeffrey L. Gendell, a reported 10% owner of IES Holdings, sold a total of 32,365 shares of IESC common stock in multiple open‑market transactions on May 26–27, 2026. The trades generated approximately $22.84 million in proceeds. Reported per‑share prices ranged from $702.24 to $710.14 (weighted averages reported for several lots).

Key Details

• Transaction dates: May 26–27, 2026 (Form 4 filed May 28, 2026).
• Shares sold: 32,365 total; aggregate proceeds ≈ $22,839,955.
• Price range (reported/weighted): $702.24 to $710.14; several footnotes report narrower price ranges for specific lots (see F1, F7–F11).
• Shares owned after sale: Mr. Gendell directly owned 44,599 shares before these disposals; after selling 32,365 shares he directly holds 12,234 shares. He also holds 65,069 phantom stock units and has indirect/related holdings through Tontine entities (see F3–F6).
• Filing timeliness: Form 4 filed May 28, 2026 for May 26–27 trades — filed within the typical Section 16 reporting window (timely).
• Notable footnotes: Sales were of shares directly held by Mr. Gendell (F1). The report is filed jointly with several Tontine entities and disclaims certain beneficial ownerships per usual partnership structures (F2–F6). Several lots use weighted average prices with disclosed intra‑range prices on request (F1, F7–F11).

Context

• This filing reports open‑market sales (code S). Mr. Gendell is a 10% owner and managing member of related investment entities that hold additional IES stock; these sales were of his directly held shares. Sales are routine disclosures of insider activity; they do not by themselves indicate company performance or management intent.