Phibro Animal Health (PAHC) CEO-linked BFI Co. sells 22,880 shares in Rule 10b5-1 trades

Rhea-AI Filing Summary

Phibro Animal Health insider activity shows an entity associated with President and CEO Jack Bendheim selling Class A Common Stock. BFI Co., LLC sold a total of 22,880 shares in open-market transactions on March 17–19 at reported weighted average prices between $51.6590 and $53.6436 per share, under a Rule 10b5-1 trading plan adopted on December 11, 2025. Following these sales, BFI Co., LLC held 73,320 shares indirectly, while Jack Bendheim also directly held 16,840 shares. Bendheim may be deemed to share voting and investment power over BFI’s holdings but disclaims beneficial ownership except for 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
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).

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 NEW JERSEY 07666

(City) (State) (Zip)

UNITED STATES

(Country)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/17/2026

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

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

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

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	03/17/2026		S(1)		5,280	D	$51.659(2)	90,920	I	See(3)
Class A Common Stock	03/18/2026		S(1)		4,311	D	$51.798(4)	86,609	I	See(3)
Class A Common Stock	03/18/2026		S(1)		3,598	D	$53.0348(5)	83,011	I	See(3)
Class A Common Stock	03/18/2026		S(1)		2,651	D	$53.6436(6)	80,360	I	See(3)
Class A Common Stock	03/19/2026		S(1)		1,939	D	$51.7841(7)	78,421	I	See(3)
Class A Common Stock	03/19/2026		S(1)		4,977	D	$52.7864(8)	73,444	I	See(3)
Class A Common Stock	03/19/2026		S(1)		124	D	$53.24	73,320	I	See(3)
Class A Common Stock								16,840	D(9)

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 NEW JERSEY 07666

(City) (State) (Zip)

UNITED STATES

(Country)

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 NEW JERSEY 07666

(City) (State) (Zip)

UNITED STATES

(Country)

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 December 11, 2025.

2. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $51.26 to $52.13. 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 through 8.

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 $51.29 to $52.21.

5. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $52.35 to $53.295.

6. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $53.365 to $53.88.

7. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $51.19 to $52.18.

8. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $52.195 to $53.125.

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

	/s/ Judith Weinstein, as Attorney-in-Fact for Jack Bendheim	03/19/2026
	/s/ Judith Weinstein, as Attorney-in-Fact for BFI Co., LLC	03/19/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did PAHC report for BFI Co., LLC and Jack Bendheim?

Phibro Animal Health reported that BFI Co., LLC, an entity associated with President and CEO Jack Bendheim, sold 22,880 shares of Class A Common Stock in open-market transactions. These sales occurred over March 17–19 and were reported on a Form 4 insider filing.

At what prices were the PAHC shares sold in this Form 4 filing?

The reported sales of Phibro Animal Health Class A Common Stock used weighted average prices, including transactions at $51.6590 and up to $53.6436 per share. Footnotes explain that actual sales occurred in multiple trades within specified price ranges for each reported average.

How many PAHC shares did BFI Co., LLC hold after the reported sales?

After the reported open-market sales, BFI Co., LLC held 73,320 shares of Phibro Animal Health Class A Common Stock indirectly. This post-transaction balance is shown in the Form 4 as the total shares following the final sale entry for the BFI Co., LLC holding line.

Did Jack Bendheim retain any direct holdings of PAHC shares after these transactions?

Yes. The Form 4 shows Jack Bendheim directly holding 16,840 shares of Phibro Animal Health Class A Common Stock after the reported period. This direct position is separate from the indirect shares held by BFI Co., LLC, which are reported with a distinct ownership classification.

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

Yes. A footnote states the reported sales were executed under a Rule 10b5-1 trading plan adopted by BFI Co., LLC on December 11, 2025. Such plans pre-schedule trades, indicating the timing of these sales was determined in advance rather than opportunistic.

How does the Form 4 describe Jack Bendheim’s relationship to BFI Co., LLC’s PAHC holdings?

The filing explains that the reported securities are directly held by BFI Co., LLC, over which Jack Bendheim exercises voting and dispositive power. He may be deemed to share voting and investment power but disclaims beneficial ownership except to the extent of his pecuniary interest.