IBEX (IBEX) COO receives 109,708 shares, 13,917 withheld for tax

Rhea-AI Filing Summary

IBEX Ltd’s Chief Operating Officer, David Martin Afdahl, reported equity compensation activity. On February 6, 2026, he acquired 109,708 common shares at $0 as a restricted stock award tied to performance goals. On the same date, 13,917 shares were disposed of at $34.98 to cover taxes on the vesting. After these transactions, he directly owned 152,902 common shares. The award stems from an April 20, 2022 performance share grant that vests in three equal installments through 2028, contingent on continued service.

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).

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^*

Afdahl David Martin

(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 Operating Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/06/2026

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	02/06/2026		A		109,708	A	$0(1)	166,819	D
Common Shares	02/06/2026		F		13,917(2)	D	$34.98	152,902	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. Reporting Person received this restricted stock award in connection with the vesting of an April 20, 2022 performance share award upon the attainment of certain Issuer Revenue and EBITDA targets for the trailing four (4) quarters. One-third of these shares vested on February 6, 2026. The remaining shares will vest one-third on February 6, 2027 and one-third on February 6, 2028. Vesting of performance share awards and shares issued in respect thereof is subject to the Reporting Person's continued service to the Company with Issuer through the applicable vesting date.

2. Represents shares withheld for tax purposes upon vesting of restricted stock grant.

Remarks:

	Lisa Lenstrohm, Attorney-in-Fact	02/12/2026
	** 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).
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FAQ

What insider transaction did IBEX (IBEX) report for its COO?

IBEX reported that COO David Martin Afdahl received a restricted stock award of 109,708 common shares on February 6, 2026. The award reflects performance-based vesting tied to revenue and EBITDA targets over four quarters and is part of his equity compensation.

How many IBEX shares did the COO dispose of for tax withholding?

The COO had 13,917 common shares withheld on February 6, 2026 at $34.98 per share to satisfy tax obligations from the restricted stock vesting. This is reported as a disposition coded “F,” reflecting tax-withholding rather than an open-market sale.

What is the vesting schedule of the COO’s IBEX performance share award?

The performance share award, granted on April 20, 2022, vests in three equal parts. One-third vested on February 6, 2026, with remaining thirds scheduled to vest on February 6, 2027 and February 6, 2028, subject to the COO’s continued service.

How many IBEX shares does the COO own after these transactions?

After the reported transactions on February 6, 2026, COO David Martin Afdahl directly owned 152,902 common shares of IBEX. This figure reflects both the restricted stock award he received and the shares withheld to cover related tax liabilities.

Why did IBEX file a Form 4 related to its COO’s shares?

Form 4 was filed because COO David Martin Afdahl, a company officer, had changes in beneficial ownership of IBEX common shares. The filing reports a restricted stock award of 109,708 shares and tax-withholding of 13,917 shares linked to the vesting event.