Sec Form 4 Filing - GENDELL JEFFREY L ET AL @ IES Holdings, Inc. - 2025-09-10

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

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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL OMB Number: 3235-0287 Expires: November 30, 2011 Estimated average burden hours per response... 0.5

1. Name and Address of Reporting Person GENDELL JEFFREY L ET AL 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 X __ 10% Owner X __ Officer (give title below) _____ Other (specify below) Executive Chairman (Last) (First) (Middle) 1 SOUND SHORE DRIVE 3. Date of Earliest Transaction (MM/DD/YY) 09/10/2025 (Street) GREENWICH, CT06830 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) _____ Form filed by One Reporting Person __ X __ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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) Code V Amount (A) or (D) Price Common Stock, par value $0.01 per share 09/10/2025 S 20,495 D $ 367.24 ( 1 ) 10,836,033 I See Footnotes ( 2 ) ( 3 ) ( 4 ) ( 5 ) ( 6 ) Common Stock, par value $0.01 per share 09/10/2025 S 9,505 D $ 372.24 ( 7 ) 10,826,528 I See Footnotes ( 2 ) ( 3 ) ( 4 ) ( 5 ) ( 6 ) Common Stock, par value $0.01 per share 09/10/2025 S 433 D $ 375.87 ( 8 ) 10,826,095 I See Footnotes ( 2 ) ( 3 ) ( 4 ) ( 5 ) ( 6 ) Common Stock, par value $0.01 per share 09/10/2025 S 1,884 D $ 377.32 ( 9 ) 10,824,211 I See Footnotes ( 2 ) ( 3 ) ( 4 ) ( 5 ) ( 6 ) Common Stock, par value $0.01 per share 09/10/2025 S 3,331 D $ 378.11 ( 10 ) 10,820,880 I See Footnotes ( 2 ) ( 3 ) ( 4 ) ( 5 ) ( 6 ) Common Stock, par value $0.01 per share 09/10/2025 S 5,679 D $ 379.12 ( 11 ) 10,815,201 I See Footnotes ( 2 ) ( 3 ) ( 4 ) ( 5 ) ( 6 ) Common Stock, par value $0.01 per share 09/10/2025 S 7,329 D $ 380.21 ( 12 ) 10,807,872 I See Footnotes ( 2 ) ( 3 ) ( 4 ) ( 5 ) ( 6 ) Common Stock, par value $0.01 per share 09/10/2025 S 4,169 D $ 381.22 ( 13 ) 10,803,703 I See Footnotes ( 2 ) ( 3 ) ( 4 ) ( 5 ) ( 6 ) Common Stock, par value $0.01 per share 09/10/2025 S 1,275 D $ 381.95 ( 14 ) 10,802,428 I See Footnotes ( 2 ) ( 3 ) ( 4 ) ( 5 ) ( 6 ) Common Stock, par value $0.01 per share 09/10/2025 S 400 D $ 383.39 ( 15 ) 10,802,028 I See Footnotes ( 2 ) ( 3 ) ( 4 ) ( 5 ) ( 6 ) Common Stock, par value $0.01 per share 09/10/2025 S 741 D $ 385.28 ( 16 ) 10,801,287 I See Footnotes ( 2 ) ( 3 ) ( 4 ) ( 5 ) ( 6 ) Common Stock, par value $0.01 per share 09/10/2025 S 259 D $ 385.88 ( 17 ) 10,801,028 I See Footnotes ( 2 ) ( 3 ) ( 4 ) ( 5 ) ( 6 ) Common Stock, par value $0.01 per share 09/11/2025 S 10,663 D $ 378.25 ( 18 ) 10,790,365 I See Footnotes ( 2 ) ( 3 ) ( 4 ) ( 5 ) ( 6 ) Common Stock, par value $0.01 per share 09/11/2025 S 6,660 D $ 381.64 ( 19 ) 10,783,705 I See Footnotes ( 2 ) ( 3 ) ( 4 ) ( 5 ) ( 6 ) Common Stock, par value $0.01 per share 09/11/2025 S 40 D $ 385 10,783,665 I See Footnotes ( 2 ) ( 3 ) ( 4 ) ( 5 ) ( 6 ) Common Stock, par value $0.01 per share 09/12/2025 S 570 D $ 376.57 ( 20 ) 10,783,095 I See Footnotes ( 2 ) ( 3 ) ( 4 ) ( 5 ) ( 6 ) Common Stock, par value $0.01 per share 09/12/2025 S 1,727 D $ 377.41 ( 21 ) 10,781,368 I See Footnotes ( 2 ) ( 3 ) ( 4 ) ( 5 ) ( 6 ) Common Stock, par value $0.01 per share 09/12/2025 S 4,122 D $ 378.45 ( 22 ) 10,777,246 I See Footnotes ( 2 ) ( 3 ) ( 4 ) ( 5 ) ( 6 ) Common Stock, par value $0.01 per share 09/12/2025 S 7 D $ 379.21 10,777,239 I See Footnotes ( 2 ) ( 3 ) ( 4 ) ( 5 ) ( 6 ) Common Stock, par value $0.01 per share 09/12/2025 S 711 D $ 380.25 ( 23 ) 10,776,528 I See Footnotes ( 2 ) ( 3 ) ( 4 ) ( 5 ) ( 6 )

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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 7. Title and Amount of Underlying Securities (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 of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other GENDELL JEFFREY L ET AL 1 SOUND SHORE DRIVE GREENWICH, CT06830 X X Executive Chairman TONTINE CAPITAL PARTNERS L P 1 SOUND SHORE DRIVE GREENWICH, CT06830 X TONTINE CAPITAL MANAGEMENT LLC 1 SOUND SHORE DRIVE GREENWICH, CT06830 X TONTINE MANAGEMENT LLC 1 SOUND SHORE DRIVE GREENWICH, CT06830 X TONTINE CAPITAL OVERSEAS MASTER FUND II, L.P. 1 SOUND SHORE DRIVE GREENWICH, CT06830 X TONTINE ASSET ASSOCIATES, L.L.C. 1 SOUND SHORE DRIVE GREENWICH, CT06830 X Tontine Associates, LLC 1 SOUND SHORE DRIVE GREENWICH, CT06830 X Tontine Capital Overseas GP, LLC 1 SOUND SHORE DRIVE GREENWICH, CT06830 X Signatures Tontine Capital Partners, L.P., By: its General Partner, Tontine Capital Management, L.L.C., By: its Managing Member, /s/ Jeffrey L. Gendell 09/12/2025 Signature of Reporting Person Date Tontine Capital Management, L.L.C., By: its Managing Member, /s/ Jeffrey L. Gendell 09/12/2025 Signature of Reporting Person Date Tontine Management, L.L.C., By: its Managing Member, /s/ Jeffrey L. Gendell 09/12/2025 Signature of Reporting Person Date Tontine Capital Overseas Master Fund II, L.P., By: its General Partner, Tontine Asset Associates, L.L.C., By: its Managing Member, /s/ Jeffrey L. Gendell 09/12/2025 Signature of Reporting Person Date Tontine Asset Associates, L.L.C., By: its Managing Member, /s/ Jeffrey L. Gendell 09/12/2025 Signature of Reporting Person Date Tontine Associates, L.L.C., By: its Managing Member, /s/ Jeffrey L. Gendell 09/12/2025 Signature of Reporting Person Date Tontine Capital Ove rseas GP, L.L.C., By: its Managing Member, /s/ Jeffrey L. Gendell 09/12/2025 Signature of Reporting Person Date /s/ Jeffrey L. Gendell 09/12/2025 Signature of Reporting Person Date

Explanation of Responses:

( 1 )On September 10, 2025, TCP 2 sold 20,495 shares of Common Stock. These shares were sold in multiple transactions, each at a price of $367.24 per share. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold in each separate transaction described in this footnote ( 2 )This report is filed jointly by Tontine Capital Partners, L.P., a Delaware limited partnership ("TCP"), Tontine Capital Management, L.L.C., a Delaware limited liability company ("TCM"), Tontine Management, L.L.C., a Delaware limited liability company ("TM"), Tontine Capital Overseas Master Fund II, L.P., a Delaware limited partnership ("TCP 2"), Tontine Asset Associates, L.L.C., a Delaware limited liability company ("TAA"), Tontine Associates, L.L.C., a Delaware limited liability company ("TA"), Tontine Capital Overseas GP, L.L.C., a Delaware limited liability company ("TCO"), and Jeffrey L. Gendell ("Mr. Gendell"). Mr. Gendell is the managing member of: (a) TCM, the general partner of TCP; (b) TM; (c) TAA, the general partner of TCP 2; (d) TA; and (e) TCO. ( 3 )TCP directly owns 5,614,644 shares of Common Stock, TCM directly owns 1,910,529 shares of Common Stock, TM directly owns 1,410,162 shares of Common Stock, TCP 2 directly owns 817,745 shares of Common Stock, TAA directly owns 96,891 shares of Common Stock, TA directly owns 640,057 shares of Common Stock, TCO directly owns 47,284 shares of Common Stock, Mr. Gendell directly owns 163,218 shares of Common Stock and 72,635 phantom stock units granted to him pursuant to the IES Holdings, Inc. 2006 Equity Incentive Plan, as amended and restated, and Mr. Gendell's adult children own 3,363 shares of Common Stock through trusts for which Mr. Gendell acts as trustee. ( 4 )All of the foregoing securities may be deemed to be beneficially owned by Mr. Gendell. The foregoing securities held by TCP may be deemed to be beneficially owned by TCM. The foregoing securities held by TCP 2 may be deemed to be beneficially owned by TAA. ( 5 )Mr. Gendell disclaims beneficial ownership of the Issuer's securities reported herein for purposes of Section 16(a) under the Securities Exchange Act of 1934, as amended, or otherwise, except as to securities directly owned by Mr. Gendell or representing Mr. Gendell's pro rata interest in, and interest in the profits of, TCM, TCP, TM, TCP 2, TAA, TA and TCO. TCM disclaims beneficial ownership of the Issuer's securities reported herein for purposes of Section 16(a) under the Securities Exchange Act of 1934, as amended, or otherwise, except as to securities directly owned by TCM or representing TCM's pro rata interest in, and interest in the profits of, TCP. ( 6 )TAA disclaims beneficial ownership of the Issuer's securities reported herein for purposes of Section 16(a) under the Securities Exchange Act of 1934, as amended, or otherwise, except as to securities directly owned by TAA or representing TAA's pro rata interest in, and interest in the profits of, TCP 2. TA disclaims beneficial ownership of the Issuer's securities reported herein for purposes of Section 16(a) under the Securities Exchange Act of 1934, as amended, or otherwise, except as to securities directly owned by TA. TM disclaims beneficial ownership of the Issuer's securities reported herein for purposes of Section 16(a) under the Securities Exchange Act of 1934, as amended, or otherwise, except as to securities directly owned by TM. TCO disclaims beneficial ownership of the Issuer's securities reported herein for purposes of Section 16(a) under the Securities Exchange Act of 1934, as amended, or otherwise, except as to securities directly owned by TCO. ( 7 )Also on September 10, 2025, TCP 2 sold 9,505 shares of Common Stock. These shares were sold in multiple transactions, each at a price of $372.24 per share. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold in each separate transaction described in this footnote. ( 8 )Also on September 10, 2025, TCP 2 sold 433 shares of Common Stock at a weighted average price of $375.87 per share. These shares were sold in multiple transactions at prices ranging from $375.52 to $376.34, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. ( 9 )Also on September 10, 2025, TCP 2 sold 1,884 shares of Common Stock at a weighted average price of $377.32 per share. These shares were sold in multiple transactions at prices ranging from $376.64 to $377.60, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. ( 10 )Also on September 10, 2025, TCP 2 sold 3,331 shares of Common Stock at a weighted average price of $378.11 per share. These shares were sold in multiple transactions at prices ranging from $377.67 to $378.66, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. ( 11 )Also on September 10, 2025, TCP 2 sold 5,679 shares of Common Stock at a weighted average price of $379.12 per share. These shares were sold in multiple transactions at prices ranging from $378.70 to $379.69, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. ( 12 )Also on September 10, 2025, TCP 2 sold 7,329 shares of Common Stock at a weighted average price of $380.21 per share. These shares were sold in multiple transactions at prices ranging from $379.73 to $380.70, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. ( 13 )Also on September 10, 2025, TCP 2 sold 4,169 shares of Common Stock at a weighted average price of $381.22 per share. These shares were sold in multiple transactions at prices ranging from $380.73 to $381.71, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. ( 14 )Also on September 10, 2025, TCP 2 sold 1,275 shares of Common Stock at a weighted average price of $381.95 per share. These shares were sold in multiple transactions at prices ranging from $381.73 to $382.67, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. ( 15 )Also on September 10, 2025, TCP 2 sold 400 shares of Common Stock at a weighted average price of $383.39 per share. These shares were sold in multiple transactions at prices ranging from $382.88 to $383.75, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. ( 16 )Also on September 10, 2025, TCP 2 sold 741 shares of Common Stock at a weighted average price of $385.28 per share. These shares were sold in multiple transactions at prices ranging from $384.70 to $385.60, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. ( 17 )Also on September 10, 2025, TCP 2 sold 259 shares of Common Stock at a weighted average price of $385.88 per share. These shares were sold in multiple transactions at prices ranging from $385.75 to $385.93, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. ( 18 )On September 11, 2025, TCP 2 sold 10,663 shares of Common Stock at a weighted average price of $378.25 per share. These shares were sold in multiple transactions at prices ranging from $378.24 to $378.43, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. ( 19 )Also on September 11, 2025, TCP 2 sold 6,660 shares of Common Stock at a weighted average price of $381.64 per share. These shares were sold in multiple transactions at prices ranging from $381.35 to $382.06, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. ( 20 )On September 12, 2025, TCP 2 sold 570 shares of Common Stock at a weighted average price of $376.57 per share. These shares were sold in multiple transactions at prices ranging from $376.02 to $376.87, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. ( 21 )Also on September 12, 2025, TCP 2 sold 1,727 shares of Common Stock at a weighted average price of $377.41 per share. These shares were sold in multiple transactions at prices ranging from $377.08 to $378.01, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. ( 22 )Also on September 12, 2025, TCP 2 sold 4,122 shares of Common Stock at a weighted average price of $378.45 per share. These shares were sold in multiple transactions at prices ranging from $378.15 to $379.08, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. ( 23 )Also on September 12, 2025, TCP 2 sold 711 shares of Common Stock at a weighted average price of $380.25 per share. These shares were sold in multiple transactions at prices ranging from $380.24 to $380.37, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

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 informatio n contained in this form are not required to respond unless the form displays a currently valid OMB Number.