PAHC Form 4: BFI Co. and Jack Bendheim disclose 09/30/2025 sales

Rhea-AI Filing Summary

Insider sales reported for PHIBRO ANIMAL HEALTH CORP (PAHC). On 09/30/2025 the filing shows dispositions of Class A common stock by BFI Co., LLC and Jack Bendheim. BFI reported a sale of 20,664 shares at a weighted average price of $40.38 (individual trade prices ranged $40.00–$40.635) and Jack Bendheim reported a sale of 16,840 shares.

The filing states the BFI sales were effected under a Rule 10b5-1 trading plan adopted May 30, 2025. After the reported transactions, BFI is shown as beneficially owning 40,674 shares, and Jack Bendheim directly holds the 16,840 shares he sold before the disposition shown on this Form 4. The filing is signed by an attorney-in-fact on behalf of both reporting persons.

Positive

• Sales conducted under a Rule 10b5-1 trading plan, as disclosed in footnote 1
• Weighted average sale price provided ($40.38) and explicit price range ($40.00–$40.635) for transparency
• Filing discloses ownership relationships and disclaimers regarding BFI and Jack Bendheim

Negative

• Total shares disposed reported: 37,504 shares (20,664 by BFI Co., LLC and 16,840 by Jack Bendheim)
• Insider selling on a single date (09/30/2025) could be viewed as a material change in insider holdings for investors
• Post-transaction beneficial ownership reduced for BFI to 40,674 shares as stated

Insights

Financial Analyst

TL;DR: Reporting persons sold a total of 37,504 Class A shares on 09/30/2025 at a weighted average price of $40.38 under a 10b5-1 plan.

The filing documents two separate dispositions: 20,664 shares by BFI Co., LLC and 16,840 shares by Jack Bendheim. The weighted average price for the BFI sales is disclosed as $40.38 with an indicated price range of $40.00 to $40.635. BFI remains a beneficial owner of 40,674 shares after the transactions. All details provided are transactional and procedural; there is no earnings or corporate financial data in this Form 4.

Corporate Governance Expert

TL;DR: Transactions were executed under a Rule 10b5-1 plan and properly disclosed on Form 4; filing includes required explanatory footnotes.

The report includes explanatory footnotes stating the sales were under a May 30, 2025 10b5-1 trading plan and provides a weighted average sale price plus the range of execution prices. It identifies ownership relationships and disclaims of beneficial ownership where applicable. The filing is signed by an attorney-in-fact for both reporting persons, meeting signature disclosure norms.

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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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).

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)
09/30/2025

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	09/30/2025		S(1)		20,664	D	$40.38(2)	40,674	I	See(3)
Class A Common Stock								16,840	D(4)

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 $40.00 to $40.635. 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.

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 reported securities are directly held by Jack Bendheim.

	/s/ Judith Weinstein, as Attorney-in-Fact for Jack Bendheim	10/01/2025
	/s/ Judith Weinstein, as Attorney-in-Fact for BFI Co., LLC	10/01/2025
	** 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 transactions are reported on the PAHC Form 4?

The Form 4 reports dispositions of Class A common stock: 20,664 shares sold by BFI Co., LLC and 16,840 shares sold by Jack Bendheim on 09/30/2025.

At what price were the PAHC shares sold according to the filing?

The filing states a weighted average price of $40.38 for the BFI sales, with individual transaction prices ranging from $40.00 to $40.635.

Were the sales part of a trading plan?

Yes. Footnote 1 discloses the reported sales were effected pursuant to a Rule 10b5-1 trading plan adopted May 30, 2025 by BFI Co., LLC.

How many shares does BFI Co., LLC beneficially own after the transactions?

The filing shows BFI beneficially owns 40,674 shares following the reported transactions.

Who signed the Form 4 for the reporting persons?

The Form 4 is signed by Judith Weinstein, as Attorney-in-Fact for both Jack Bendheim and BFI Co., LLC on 10/01/2025.

Does the filing state any change in control or other corporate actions?

No. The Form 4 contains only insider disposition transactions and related explanatory footnotes; it does not disclose corporate actions or earnings information.