[Form 4] PHIBRO ANIMAL HEALTH CORP Insider Trading Activity

Rhea-AI Filing Summary

Phibro Animal Health (PAHC) insider activity: A Form 4 reports transactions by Jack Bendheim and BFI Co., LLC. On 11/11/2025, 15,000 shares of Class B Common Stock were converted into Class A Common Stock at $0. On 11/12/2025, 21,536 Class A shares were sold at a weighted average price of $45.2255. On 11/13/2025, additional sales included 7,147 shares at $44.3689 and 1,654 shares at $44.929. These sales were effected under a Rule 10b5-1 trading plan adopted on May 30, 2025. Following the reported transactions, Class A shares beneficially owned were 5,240 indirect (via BFI) and 16,840 direct.

Insights

Insider transactions analyst

Routine insider sales under a 10b5-1 plan; neutral impact.

The filing lists a conversion of 15,000 Class B into Class A at $0 on 11/11/2025, followed by sales of Class A shares on 11/12/2025 and 11/13/2025. The sales were made under a Rule 10b5-1 plan adopted on May 30, 2025, indicating pre-set trading instructions.

After these transactions, the report shows 5,240 Class A shares indirectly held and 16,840 Class A shares directly held. Weighted average sale prices were $45.2255, $44.3689, and $44.929. The filing notes BFI’s holding structure and a standard beneficial ownership disclaimer.

As these are administrative disclosures of pre-planned trades, they typically do not alter the business outlook. Subsequent filings may provide additional updates on holdings and plan activity.

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 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)
11/11/2025

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	11/11/2025		C(1)		15,000	A	$0	35,577	I	See(2)
Class A Common Stock	11/12/2025		S(3)		21,536	D	$45.2255(4)	14,041	I	See(2)
Class A Common Stock	11/13/2025		S(3)		7,147	D	$44.3689(5)	6,894	I	See(2)
Class A Common Stock	11/13/2025		S(3)		1,654	D	$44.929(6)	5,240	I	See(2)
Class A Common Stock								16,840	D(7)

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
Class B Common Stock	$0	11/11/2025		C			15,000	(1)	(1)	Class A Common Stock	15,000	$0	20,046,034	I	See(2)

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. Class B Common Stock is convertible into Class A Common Stock at any time on a one-for-one basis, at the holder's election, and has no expiration date.

2. The reported securities are directly held by BFI Co., LLC ("BFI"). Jack Bendheim, a reporting person, director and officer of Phibro Animal Health Corporation (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.

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

4. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $44.95 to $45.85. The Reporting Person undertakes to provide to 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 5 and 6.

5. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $43.84 to $44.78.

6. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $44.86 to $45.465.

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

	/s/ Judith Weinstein, as Attorney-in-Fact for Jack Bendheim	11/13/2025
	/s/ Judith Weinstein, as Attorney-in-Fact for BFI Co., LLC	11/13/2025
	** 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 did PAHC’s insider report on this Form 4?

A conversion of 15,000 Class B to Class A on 11/11/2025 and sales of Class A shares on 11/12/2025 and 11/13/2025.

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

Yes. The sales were effected pursuant to a Rule 10b5-1 trading plan adopted on May 30, 2025.

What were the reported PAHC sale amounts and prices?

Sales included 21,536 shares at a weighted average $45.2255, 7,147 at $44.3689, and 1,654 at $44.929.

How many PAHC shares did the insider hold after the transactions?

Class A shares beneficially owned were 5,240 indirect and 16,840 direct after the reported trades.

Who is the reporting person on PAHC’s Form 4?

Jack Bendheim, noted as Director, 10% Owner, and President and CEO; some holdings are through BFI Co., LLC.

What does the beneficial ownership disclaimer state?

Mr. Bendheim may be deemed to share voting and investment power over BFI’s holdings and disclaims beneficial ownership except to the extent of his pecuniary interest.