Form 4: IES Holdings CEO Jeffrey Gendell Sells Shares to Cover Tax Obligations

Jeffrey Gendell, CEO of IES Holdings, sold 11,590 shares of common stock to cover withholding tax obligations related to vesting Phantom Stock Units.

Summary

• On March 7, 2024, Jeffrey L. Gendell, CEO of IES Holdings, Inc., sold 11,590 shares of common stock at a price of $115.14 per share.
• The sale was executed to cover the withholding tax obligation resulting from the vesting of the first tranche of Phantom Stock Units (PSUs) granted to Mr. Gendell on December 1, 2021, under the company's 2006 Equity Incentive Plan.
• Following the transaction, Mr. Gendell and related entities, including Tontine Capital Partners, L.P., and associated management companies, beneficially own 11,409,845 shares of IES Holdings, Inc.
• Mr. Gendell disclaims beneficial ownership of the reported securities except for those directly owned by him or representing his pro rata interest in the related entities.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing related to insider trading. It doesn't inherently convey positive or negative sentiment, as it simply reports a transaction.

Industry Context

Form 4 filings are a routine part of insider trading activity and are required by the SEC to provide transparency into the transactions of company executives and major shareholders.

Key Dates