Insider entity BFI Co. LLC trims Phibro Animal Health (PAHC) stake

Rhea-AI Filing Summary

BFI Co., LLC, an entity associated with Phibro Animal Health’s President and CEO Jack Bendheim, reported pre-planned open-market sales of 14,080 shares of Class A Common Stock under a Rule 10b5-1 trading plan. The weighted average sale prices were $50.2568, $51.3830 and $51.9644 per share.

After these indirect sales, BFI Co., LLC reported holding 22,600 shares, while Jack Bendheim directly held 16,840 shares. Bendheim may be deemed to share voting and investment power over BFI’s holdings but disclaims beneficial ownership beyond his pecuniary interest.

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
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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).

X

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^*

BENDHEIM JACK

(Last) (First) (Middle)

300 FRANK W. BURR BLVD., STE 21

(Street)

TEANECK NJ 07666

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PHIBRO ANIMAL HEALTH CORP [ PAHC ]

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

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
02/19/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	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
Class A Common Stock	02/19/2026		S(1)		7,040	D	$50.2568(2)	29,640	I	See(3)
Class A Common Stock	02/20/2026		S(1)		6,643	D	$51.383(4)	22,997	I	See(3)
Class A Common Stock	02/20/2026		S(1)		397	D	$51.9644(5)	22,600	I	See(3)
Class A Common Stock								16,840	D(6)

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

1. Name and Address of Reporting Person^*

BENDHEIM JACK

(Last) (First) (Middle)

300 FRANK W. BURR BLVD., STE 21

(Street)

TEANECK NJ 07666

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	President and CEO

1. Name and Address of Reporting Person^*

BFI Co., LLC

(Last) (First) (Middle)

300 FRANK W. BURR BLVD., STE 21

(Street)

TEANECK NJ 07666

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. The reported sales were effected pursuant to a Rule 10b5-1 trading plan adopted by BFI Co., LLC ("BFI") on May 30, 2025.

2. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $49.965 to $50.935. The Reporting Person undertakes to provide to Phibro Animal Health Corporation (the "Issuer"), any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote and in footnotes 4 and 5.

3. The reported securities are directly held by BFI. Jack Bendheim, a reporting person, director and officer of the Issuer, exercises voting and dispositive power over BFI and may be deemed to have shared voting and investment power over the securities held by BFI. Mr. Bendheim disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.

4. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $50.90 to $51.89.

5. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $51.92 to $52.06.

6. The reported securities are directly held by Jack Bendheim.

	/s/ Judith Weinstein, as Attorney-in-Fact for Jack Bendheim	02/23/2026
	/s/ Judith Weinstein, as Attorney-in-Fact for BFI Co., LLC	02/23/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transactions did Phibro Animal Health (PAHC) report in this Form 4?

Phibro Animal Health reported that BFI Co., LLC executed open-market sales totaling 14,080 shares of Class A Common Stock. These trades occurred on February 19 and February 20, 2026, at weighted average prices slightly above $50 per share.

Who is BFI Co., LLC in relation to Phibro Animal Health (PAHC)?

BFI Co., LLC is an entity whose reported securities are linked to Phibro’s President and CEO, Jack Bendheim. He exercises voting and dispositive power over BFI and may share investment power, while disclaiming beneficial ownership except for his pecuniary interest.

Were the PAHC insider share sales under a Rule 10b5-1 trading plan?

Yes. The reported share sales by BFI Co., LLC were carried out under a Rule 10b5-1 trading plan adopted on May 30, 2025. Such plans pre-schedule trades, helping separate personal trading decisions from nonpublic information concerns.

What prices were received in the recent PAHC insider stock sales?

The filing reports weighted average sale prices of $50.2568, $51.3830 and $51.9644 per share. Footnotes state these shares were sold in multiple transactions within ranges from about $49.965 up to $52.06, reflecting typical execution spreads.

How many PAHC shares does BFI Co., LLC hold after these transactions?

After the reported transactions, BFI Co., LLC held 22,600 shares of Phibro Animal Health Class A Common Stock. Separately, a direct holding entry shows 16,840 shares held directly by Jack Bendheim following the same reporting date.

Does Jack Bendheim personally own the PAHC shares sold by BFI Co., LLC?

The filing states the securities sold are directly held by BFI Co., LLC. Jack Bendheim may be deemed to share voting and investment power but disclaims beneficial ownership of BFI’s securities except to the extent of his pecuniary interest in them.