Director Todd M. Cleveland sells 5,000 IES Holdings (IESC) shares

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

IES Holdings director Todd M. Cleveland reported open-market sales of 5,000 shares of IESC common stock. The sales took place over February 24–26, 2026 at prices generally between about $510 and $521 per share. After these transactions, he directly owned 80,817 common shares.

Insider Trade Summary

Net Seller: 5,000 shares ($2,559,688)

Net Sell 8 txns

Insider Cleveland Todd M

Role Director

Sold 5,000 shs ($2.56M)

Type	Security	Shares	Price	Value
Sale	Common Stock	714	$510.26	$364K
Sale	Common Stock	586	$511.15	$300K
Sale	Common Stock	100	$512.00	$51K
Sale	Common Stock	300	$513.76	$154K
Sale	Common Stock	2,144	$510.32	$1.09M
Sale	Common Stock	600	$511.39	$307K
Sale	Common Stock	375	$521.00	$195K
Sale	Common Stock	181	$520.25	$94K

Holdings After Transaction: Common Stock — 81,803 shares (Direct)

Footnotes (1)

These shares were sold in multiple transactions each at a price of $520.25. The reporting person undertakes to provide to IES Holdings, Inc. (the "Issuer"), any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold in each separate transaction described in this footnote. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $510.00 to $510.99, inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $511.00 to $511.80, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. These shares were sold in multiple transactions each at a price of $521.00. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold in each separate transaction described in this footnote. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $510.00 to $510.97, inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $511.00 to $511.25, inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. These shares were sold in multiple transactions each at a price of $512.00. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold in each separate transaction described in this footnote. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $513.64 to $513.84, inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Form 4 Insider Transactions: What Each Field Means →

02/26/2026 - 06:02 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Cleveland Todd M

(Last)

(First)

(Middle)

107 W. FRANKLIN ST.

(Street)

ELKHART

46515

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
IES Holdings, Inc. [ IESC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/24/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	02/24/2026		S		181	D	$520.25⁽¹⁾	85,636	D
Common Stock	02/25/2026		S		2,144	D	$510.32⁽²⁾	83,492	D
Common Stock	02/25/2026		S		600	D	$511.39⁽³⁾	82,892	D
Common Stock	02/25/2026		S		375	D	$521⁽⁴⁾	82,517	D
Common Stock	02/26/2026		S		714	D	$510.26⁽⁵⁾	81,803	D
Common Stock	02/26/2026		S		586	D	$511.15⁽⁶⁾	81,217	D
Common Stock	02/26/2026		S		100	D	$512⁽⁷⁾	81,117	D
Common Stock	02/26/2026		S		300	D	$513.76⁽⁸⁾	80,817	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. These shares were sold in multiple transactions each at a price of $520.25. The reporting person undertakes to provide to IES Holdings, Inc. (the "Issuer"), any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold in each separate transaction described in this footnote.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $510.00 to $510.99, inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $511.00 to $511.80, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

4. These shares were sold in multiple transactions each at a price of $521.00. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold in each separate transaction described in this footnote.

5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $510.00 to $510.97, inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $511.00 to $511.25, inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

7. These shares were sold in multiple transactions each at a price of $512.00. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold in each separate transaction described in this footnote.

8. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $513.64 to $513.84, inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Remarks:

	/s/ Mary K. Newman, Attorney-in-Fact	02/26/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

What insider activity did IESC director Todd M. Cleveland report?

Todd M. Cleveland reported selling 5,000 shares of IES Holdings common stock in open-market transactions. These sales occurred over February 24–26, 2026, and were all reported as direct ownership transactions under Section 16 insider reporting rules.

Over what dates did Todd M. Cleveland sell IESC shares and at what prices?

Todd M. Cleveland sold IES Holdings common shares on February 24, 25, and 26, 2026. Reported sale prices ranged around $510 to $521 per share, including weighted average prices within narrower ranges disclosed in the Form 4 footnotes.

How many IESC shares did Todd M. Cleveland sell in this Form 4 filing?

The Form 4 shows that Todd M. Cleveland sold a total of 5,000 IES Holdings common shares. This total comes from eight separate open-market sale transactions reported in the filing’s transaction details and summarized in the transactionSummary data.

How many IES Holdings (IESC) shares does Todd M. Cleveland own after these sales?

After completing the reported open-market sales, Todd M. Cleveland directly owned 80,817 IES Holdings common shares. This post-transaction holding amount is taken from the final transaction entry’s “total shares following transaction” field in the Form 4 data.

Were Todd M. Cleveland’s IESC stock sales direct or through another entity?

All reported IES Holdings stock sales were classified as directly owned by Todd M. Cleveland. The transactions use the direct ownership code “D,” and the footnotes do not indicate that the shares were held by any separate trust, partnership, or related entity.

How does the Form 4 describe the pricing of Todd M. Cleveland’s IESC sales?

The Form 4 footnotes state that several sale prices are weighted averages from multiple trades. Individual transactions occurred within specified ranges, such as $510.00 to $510.99 or $511.00 to $511.80, with a commitment to provide detailed breakdowns upon request.