IBEX (IBEX) AI & Digital chief transfers 925 shares in divorce-related deal

Rhea-AI Filing Summary

IBEX Ltd insider Michael Joseph Darwal, the Chief AI & Digital Officer, reported an "other" type transaction involving 925 Common Shares at a reference price of $28.39 per share. After this event, his directly held stake is 41,260 Common Shares.

According to the footnote, these shares were transferred to a third party under a legal agreement related to a divorce dated December 29, 2025. The filing states that this transfer does not represent a discretionary transaction by the reporting person, indicating it was driven by personal legal obligations rather than an active investment decision.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Darwal Michael Joseph

Role Chief AI & Digital Officer

Type	Security	Shares	Price	Value
Other	Common Shares	925	$28.39	$26K

Holdings After Transaction: Common Shares — 41,260 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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^*

Darwal Michael Joseph

(Last) (First) (Middle)

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 AI & Digital Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/25/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Shares	02/25/2026		J(1)		925	D	$28.39	41,260	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:

1. These Common Shares were transferred to a third party pursuant to a legal agreement related to a divorce dated December 29, 2025. This transfer does not represent a discretionary transaction by the Reporting Person.

Remarks:

	Lisa Lenstrohm, Attorney-in-Fact	02/25/2026
	** 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.

FAQ

What insider transaction did IBEX (IBEX) report in this Form 4?

IBEX reported that Chief AI & Digital Officer Michael Joseph Darwal recorded an “other” transaction involving 925 Common Shares. The filing shows a reference price of $28.39 per share and notes this was a transfer tied to a divorce-related legal agreement, not an investment trade.

How many IBEX (IBEX) shares did the insider transfer and at what price?

The insider transaction involved 925 IBEX Common Shares with a reported price of $28.39 per share. This figure reflects the transaction price disclosed in the filing, providing a reference value for the transferred shares under the divorce-related legal agreement.

Why does the IBEX (IBEX) Form 4 say the transaction was non-discretionary?

The Form 4 notes the transfer occurred under a legal agreement related to a divorce dated December 29, 2025. It explicitly states the transfer does not represent a discretionary transaction by the reporting person, meaning it was required by that agreement rather than a voluntary portfolio decision.

How many IBEX (IBEX) shares does Michael Joseph Darwal hold after this transaction?

After the reported transaction, Michael Joseph Darwal directly holds 41,260 IBEX Common Shares. This post-transaction balance is disclosed in the Form 4 and reflects his remaining direct ownership following the divorce-related transfer of 925 shares.

Was the IBEX (IBEX) insider transaction a buy or sell of shares?

The transaction is classified as code “J,” labeled as “Other acquisition or disposition,” and footnotes describe a divorce-related transfer. The filing clarifies it was a non-discretionary transfer to a third party, not a traditional open-market buy or sell by the insider.