X0306 4 2019-07-01 0 0001048268 IES Holdings, Inc. IESC 0001338684 Luke Donald L 5433 WESTHEIMER RD, SUITE 500 HOUSTON TX 77056 1 0 0 0 Common Stock 2019-07-01 4 A 0 1027 0 A 74467 D Represents Phantom Stock Units ("PSUs") granted pursuant to the IES Holdings, Inc. ("IES") 2006 Equity Incentive Plan as amended and restated through February 2016 (the "Equity Incentive Plan") upon Mr. Luke electing to receive PSUs in lieu of cash or common stock for that portion of his retainer. Each unit converts to one share of IES common stock when either (i) Mr. Luke leaves the board of directors for any reason, or (ii) upon a change of control as defined in the Equity Incentive Plan. /s/Gail D. Makode, Attorney-in-Fact 2019-07-03