Gendell David B. 4

What Happened
David B. Gendell, a director of IES Holdings, was granted 34 phantom stock units (PSUs) on 2026-07-01. The filing reports the award as 34 units at $0.00 (transaction code A — award/grant). These PSUs are a form of deferred equity that do not represent current common stock but convert to one share of IES common stock upon certain events.

Key Details

• Transaction date: 2026-07-01; filing date: 2026-07-06 (filed after the typical two-business-day Form 4 deadline).
• Award: 34 Phantom Stock Units (PSUs) reported at $0.00.
• Shares owned after transaction: Not specified in this filing.
• Footnote: PSUs were granted under the 2006 Equity Incentive Plan; Mr. Gendell elected to receive PSUs in lieu of common stock or cash for part of his retainer. Each PSU converts to one share when he leaves the board or upon a change of control.
• Transaction code: A = Award/Grant.

Context
PSUs are derivative awards that defer receipt of actual shares until vesting or specified events (here, board departure or change of control). This is an equity compensation/retainer election rather than an open-market buy or sale, and therefore should be read as routine compensation — not a direct bullish or bearish trade signal. The filing appears to have been submitted after the two-business-day Form 4 deadline, which is a timeliness consideration for investors tracking insider activity.