X0306 4 2018-10-01 0 0001048268 IES Holdings, Inc. IESC 0001408176 Gendell David B. 1 SOUND SHORE DRIVE, SUITE 304 GREENWICH CT 06830 1 0 0 0 Common Stock 2018-10-01 4 A 0 416 0 A 126366 D Represents Phantom Stock Units granted pursuant to the IES Holdings, Inc. ("IES") 2006 Equity Incentive Plan (as amended and restated through February 2016) upon Mr. Gendell electing to receive PSUs in lieu of common stock or cash for that portion of his retainer. Each unit converts to one share of IES common stock when Mr. Gendell leaves the board of directors for any reason. /s/Gail D. Makode, Attorney-in-Fact 2018-10-03