BFI Co. linked to PAHC CEO sells 21,120 shares

Phibro Animal Health Corp reported that BFI Co., LLC, an entity over which President and CEO Jack Bendheim exercises voting and dispositive power, sold a total of 21,120 shares of Class A Common Stock in open-market transactions on March 24–26, 2026.

Rhea-AI Filing Summary

Phibro Animal Health Corp reported that BFI Co., LLC, an entity over which President and CEO Jack Bendheim exercises voting and dispositive power, sold a total of 21,120 shares of Class A Common Stock in open-market transactions on March 24–26, 2026.

The weighted average sale prices ranged from about $52.8772 to $57.1702 per share. Following these indirect sales, BFI Co., LLC held 52,200 Class A shares, while Bendheim directly held 16,840 shares. The sales were executed under a Rule 10b5-1 trading plan adopted on December 11, 2025, indicating they were pre-scheduled rather than discretionary.

Insider Trade Summary 10b5-1

Net Seller: 21,120 shares

Net Sell 8 txns

Insider BENDHEIM JACK, BFI Co., LLC

Role President and CEO | 10% Owner

Sold 21,120 shs ($1.17M)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	6,760	$56.7852	$384K
Sale	Class A Common Stock	280	$57.1702	$16K
Sale	Class A Common Stock	1,572	$55.2822	$87K
Sale	Class A Common Stock	4,916	$56.0041	$275K
Sale	Class A Common Stock	552	$56.8584	$31K
Sale	Class A Common Stock	6,523	$52.8772	$345K
Sale	Class A Common Stock	517	$53.5886	$28K
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Class A Common Stock — 52,200 shares (Indirect, See); Class A Common Stock — 16,840 shares (Direct)

Footnotes (10)

1. F1. The reported sales were effected pursuant to a Rule 10b5-1 trading plan adopted by BFI Co., LLC ("BFI") on December 11, 2025.
2. F2. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $52.44 to $53.435. 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 9.
3. F3. 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. F4. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $53.53 to $53.70.
5. F5. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $54.69 to $55.65.
6. F6. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $55.76 to $56.745.
7. F7. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $56.76 to $56.91.
8. F8. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $56.12 to $57.06.
9. F9. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $57.14 to $57.24.
10. F10. The reported securities are directly held by Jack Bendheim.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

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

Phibro Animal Health disclosed that BFI Co., LLC, an entity associated with CEO Jack Bendheim, sold 21,120 shares of Class A Common Stock in open-market trades on March 24–26, 2026, under a pre-established Rule 10b5-1 trading plan.

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

The reported Phibro Animal Health Class A shares were sold at weighted average prices between $52.8772 and $57.1702 per share across several open-market transactions, with detailed price ranges described in the filing’s footnotes for each sale group.

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

After the reported transactions, BFI Co., LLC held 52,200 shares of Phibro Animal Health Class A Common Stock indirectly. The filing also notes that Jack Bendheim directly held an additional 16,840 shares, separate from the BFI Co., LLC position.

Were the PAHC insider sales by BFI Co., LLC discretionary or pre-planned?

The sales were executed pursuant to a Rule 10b5-1 trading plan adopted by BFI Co., LLC on December 11, 2025. Such plans pre-schedule trades, so the timing of these March 2026 sales was determined in advance rather than chosen opportunistically.

Who is considered the seller in the PAHC Form 4, BFI Co., LLC or Jack Bendheim?

The securities are directly held by BFI Co., LLC, which is the immediate seller. Jack Bendheim exercises voting and dispositive power over BFI and may be deemed to share voting and investment power but disclaims beneficial ownership beyond his pecuniary interest.

Does the PAHC Form 4 show any remaining derivative securities for Jack Bendheim or BFI Co., LLC?

The filing’s derivative section is empty, indicating no derivative securities, such as options or warrants, are reported as remaining positions in this specific Form 4 for Jack Bendheim or BFI Co., LLC.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 03/26/2026 - 09:19 PM Learn about SEC filing dates

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)
03/24/2026

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	03/24/2026		S(1)		6,523	D	$52.8772(2)	66,797	I	See(3)
Class A Common Stock	03/24/2026		S(1)		517	D	$53.5886(4)	66,280	I	See(3)
Class A Common Stock	03/25/2026		S(1)		1,572	D	$55.2822(5)	64,708	I	See(3)
Class A Common Stock	03/25/2026		S(1)		4,916	D	$56.0041(6)	59,792	I	See(3)
Class A Common Stock	03/25/2026		S(1)		552	D	$56.8584(7)	59,240	I	See(3)
Class A Common Stock	03/26/2026		S(1)		6,760	D	$56.7852(8)	52,480	I	See(3)
Class A Common Stock	03/26/2026		S(1)		280	D	$57.1702(9)	52,200	I	See(3)
Class A Common Stock								16,840	D(10)

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 $52.44 to $53.435. 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 9.

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 $53.53 to $53.70.

5. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $54.69 to $55.65.

6. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $55.76 to $56.745.

7. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $56.76 to $56.91.

8. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $56.12 to $57.06.

9. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $57.14 to $57.24.

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

	/s/ Judith Weinstein, as Attorney-in-Fact for Jack Bendheim	03/26/2026
	/s/ Judith Weinstein, as Attorney-in-Fact for BFI Co., LLC	03/26/2026
	** 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)