Form 4: IES Holdings COO Matthew Simmes Acquires Shares Through Vesting, Sells Portion for Tax Obligations

IES Holdings' President and COO, Matthew Simmes, acquired 13,740 shares of common stock through the vesting of performance-based phantom stock units and sold 5,406 shares to cover tax obligations.

Summary

• Matthew Simmes, President and COO of IES Holdings, acquired 13,740 shares of common stock on November 22, 2024.
• The shares were acquired through the vesting of timeand performance-based phantom stock units (PSUs) granted on December 3, 2021.
• The vesting was triggered by the filing of the company's Annual Report on Form 10-K for the fiscal year ended September 30, 2024.
• Simmes also sold 5,406 shares on the same day to cover tax obligations related to the vesting.
• The price per share for both the acquisition and sale was $278.01.
• Following these transactions, Simmes directly owns 81,444 shares of IES Holdings common stock.

Sentiment

Score: 7

Explanation: The document reflects a standard executive stock transaction, which is generally positive as it indicates the company met its performance targets. The sale of shares for tax purposes is neutral.

Positives

• The vesting of performance-based stock units indicates that the company met its financial performance objectives for the relevant period.
• The acquisition of shares by a key executive can be seen as a positive sign of confidence in the company's future performance.

Negatives

• The sale of shares to cover tax obligations, while common, does reduce the executive's overall holdings.

Risks

• There are no specific risks mentioned in this document.
• The document is a standard SEC Form 4 filing and does not indicate any specific risks.

Industry Context

This is a standard transaction for executives who receive stock-based compensation. It is common for executives to sell a portion of their vested shares to cover tax obligations.

Comparison to Industry Standards

• The vesting of performance-based stock units is a common practice in executive compensation across various industries.
• The sale of shares to cover tax obligations is also a standard practice among executives who receive stock-based compensation.
• The specific number of shares and the price are specific to IES Holdings and its compensation structure.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it indicates the company met its performance targets.
• The sale of shares by the executive may have a negligible impact on the share price.

Key Dates

Keywords

IES Holdings, Matthew Simmes, Form 4, stock acquisition, stock sale, phantom stock units, vesting, executive compensation, insider trading, SEC filing