[Form 4] IBEX Ltd Insider Trading Activity

Rhea-AI Filing Summary

Julie K. Casteel, Chief Sales/Marketing Officer of IBEX Ltd (IBEX), reported a sale of common shares. On 09/16/2025 she disposed of 5,000 common shares at a price of $39.0002 per share, leaving her with 25,895 shares beneficially owned. The Form 4 was signed by an attorney-in-fact on 09/17/2025.

Positive

• Timely disclosure of the insider sale under Section 16, demonstrating compliance with reporting rules
• No derivative or complex transactions were reported alongside the sale, simplifying investor interpretation

Negative

• Insider sold shares: 5,000 common shares disposed at $39.0002 on 09/16/2025, reducing beneficial ownership
• Limited context provided in the filing—no information on reason for sale or proportion of total outstanding shares

Insights

Financial Analyst

TL;DR: Insider sale of 5,000 shares is disclosed; transaction appears routine and provides transparency but is not clearly material.

The Form 4 shows a single non-derivative disposition by the Chief Sales/Marketing Officer of IBEX Ltd on 09/16/2025 for 5,000 shares at $39.0002, leaving 25,895 shares owned. This is a straightforward Section 16 disclosure that allows investors to track insider activity; without context on total outstanding shares or recent trading patterns, the sale alone does not indicate a material change in company control or financial condition.

Corporate Governance Expert

TL;DR: Timely Form 4 filing shows compliance; the sale reduces the officer's stake but raises no immediate governance red flags.

The filing, signed by an attorney-in-fact, documents compliance with reporting requirements for officers. A reduction from the officer's prior holdings to 25,895 shares after a 5,000-share sale is disclosed. There are no accompanying derivative transactions, related-party notes, or amendments that would suggest governance concerns from this single transaction.

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).

1. Name and Address of Reporting Person^*

Casteel Julie K

(Last) (First) (Middle)

C/O IBEX LIMITED

1717 PENNSYLVANIA AVENUE NW, SUITE 825

(Street)

WASHINGTON DC 20006

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
IBEX Ltd [ IBEX ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Sales/Marketing Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/16/2025

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)
			Code	V	Amount	(A) or (D)	Price
Common Shares	09/16/2025		S		5,000	D	$39.0002	25,895	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

Remarks:

	Lisa Lenstrohm, Attorney-in-Fact	09/17/2025
	** 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.