Form 4: IES Holdings Director Acquires Phantom Stock Units

Director Todd M. Cleveland acquired 164 phantom stock units of IES Holdings, Inc. on April 1, 2025, electing to receive them in lieu of common stock or cash for a portion of his retainer.

Summary

• On April 1, 2025, Todd M. Cleveland, a director of IES Holdings, Inc., acquired 164 phantom stock units.
• The acquisition was made under the IES Holdings, Inc. 2006 Equity Incentive Plan.
• Cleveland elected to receive these units in place of common stock or cash for a portion of his retainer.
• Each phantom stock unit converts to one share of IES common stock when Cleveland leaves the board or upon a change of control.
• Following the transaction, Cleveland beneficially owns 104,089 shares of common stock.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, suggesting a neutral to slightly positive sentiment as it aligns director interests with the company's performance.

Future Outlook

The phantom stock units will convert to common stock upon Mr. Cleveland leaving the board of directors or a change of control.

Industry Context

This filing reflects standard executive compensation practices, utilizing phantom stock units as part of director compensation, aligning director interests with shareholder value.

Stakeholder Impact

• The transaction aligns the director's interests with those of the shareholders, as the value of the phantom stock units is tied to the company's stock performance.

Key Dates

Keywords

IES Holdings, Director, Phantom Stock Units, Equity Incentive Plan, Beneficial Ownership, IESC, Form 4