Form 4: IES Holdings COO Matthew Simmes Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Matthew Simmes, President and COO of IES Holdings, Inc., sold 4,918 shares of common stock on March 7, 2024, to cover withholding tax obligations related to vesting phantom stock units.
Summary
- On March 7, 2024, Matthew J Simmes, the President and COO of IES Holdings, Inc. (IESC), disposed of 4,918 shares of common stock.
- The transaction was executed to satisfy withholding tax obligations resulting from the vesting of phantom stock units granted on December 3, 2021.
- The sale price was $115.14 per share.
- Following the transaction, Mr. Simmes directly owns 91,110 shares of IES Holdings, Inc.
Sentiment
Score: 5
Explanation: This is a neutral event. It's a routine transaction to cover tax obligations, not indicative of a change in the executive's confidence in the company.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This transaction appears to be a standard sale to cover tax obligations related to equity compensation.
Key Dates
| Date | Description |
|---|---|
| 2021-12-03 | Date of grant of phantom stock units to Mr. Simmes. |
| 2024-03-07 | Date of transaction (sale of shares). |
| 2024-03-08 | Date of signature of the Form 4 filing. |
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