[Form 4] IBEX Ltd Insider Trading Activity

Rhea-AI Filing Summary

Christina Alice Trofimuk-O'Connor, Chief Legal Officer of IBEX Ltd (IBEX), had 3,228 performance-based stock units (PSUs) vest and convert into common shares on 09/30/2025. To satisfy tax-withholding obligations tied to that vesting, she sold 1,001 shares on 10/02/2025 at a weighted-average price of $39.5817, leaving her with 13,954 shares beneficially owned. The Form 4 states the PSUs were earned after certification of performance for the period ending 06/30/2025, and the reported sale was not a discretionary trade but a tax-withholding sale.

Positive

• 3,228 PSUs vested after certification of performance goals for the period ending 06/30/2025
• Sale proceeds were used for tax-withholding, indicating the disposition was not discretionary

Negative

• Officer's beneficial ownership decreased by 1,001 shares to 13,954 following the sale
• Sale executed at prices ranging from $39.34 to $40.01, showing execution across multiple price points

Insights

Corporate Governance Expert

Officer received 3,228 PSUs and sold 1,001 shares to cover taxes.

The filing shows routine compensation mechanics: PSUs vested following performance certification for the period ending 06/30/2025, then converted to common shares. The subsequent sale on 10/02/2025 is disclosed as tax-withholding rather than a discretionary disposition, which is a common governance practice to satisfy withholding without changing long-term ownership intent.

Equity Markets Analyst

Net officer holding declined by 1,001 shares; sale at weighted avg $39.5817.

The report quantifies a reduction from 14,955 to 13,954 shares after the sale. Because the sale size is relatively small versus typical public float, this is unlikely to be market-moving, and the filing explicitly frames it as a tax-withholding event rather than a signal of portfolio rebalancing.

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

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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^*

Trofimuk-O'Connor Christina Alice

(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 Legal Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2025

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	09/30/2025		A(1)		3,228	A	$0	14,955	D
Common Shares	10/02/2025		S(2)		1,001	D	$39.5817(3)	13,954	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. On September 30, 2025, 3,228 performance-based stock units ("PSUs") were earned and acquired by the Reporting Person. These PSUs were earned upon certification of performance goals for the period ending June 30, 2025 and converted to Common shares.

2. The sales reported on this Form 4 represent shares of Common Stock required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of performance-based stock units and do not represent discretionary trades by the Reporting Person.

3. This transaction was executed in multiple trades at prices ranging from $39.34 to $40.01; the price reported above reflects the weighted average sales price. The reporting person undertakes to provide to Issuer, any security holder of Issuer, or the staff of the U.S. Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price.

Remarks:

	Lisa Lenstrohm, Attorney-in-Fact	10/02/2025
	** 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.

FAQ

What happened in the IBEX (IBEX) Form 4 filed by Christina Trofimuk-O'Connor?

The reporting person had 3,228 PSUs vest on 09/30/2025, which converted to common shares, and sold 1,001 shares on 10/02/2025 to cover tax-withholding.

How many shares does the reporting person own after the transactions?

After the conversion and sale, the reporting person beneficially owned 13,954 shares.

At what price were the shares sold?

The sale was executed in multiple trades between $39.34 and $40.01; the weighted-average price reported is $39.5817.

Why were the shares sold according to the Form 4?

The Form 4 states the shares were sold to satisfy tax withholding obligations arising from the vesting of performance-based stock units and were not discretionary trades.

When were the performance goals certified that led to the PSU vesting?

The PSUs were earned upon certification of performance goals for the period ending 06/30/2025.