Phibro Animal Health insider sales and Class B to A conversion

Rhea-AI Filing Summary

Phibro Animal Health (PAHC) insider activity: Reporting persons BFI Co., LLC and Jack Bendheim (Director, 10% Owner, President and CEO) reported sales and a conversion. Under a Rule 10b5‑1 plan, BFI sold 700 Class A shares on 10/17/2025 at a weighted average price of $40.0319 and 16,075 Class A shares on 10/20/2025 at a weighted average price of $40.3842.

On 10/21/2025, 50,000 shares of Class B Common Stock were converted into 50,000 shares of Class A on a one‑for‑one basis. Following these transactions, 73,899 Class A shares were indirectly beneficially owned, and 16,840 Class A shares were directly owned. After the conversion, 20,086,034 shares of Class B were indirectly beneficially owned.

Insights

Securities law analyst

Routine Form 4 showing planned sales and a Class B to A conversion.

BFI Co., LLC, over which Jack Bendheim has voting and dispositive power, sold 700 Class A shares at a weighted average of $40.0319 on 10/17/2025 and 16,075 Class A shares at a weighted average of $40.3842 on 10/20/2025 pursuant to a Rule 10b5‑1 plan adopted on May 30, 2025.

On 10/21/2025, 50,000 shares of Class B Common Stock were converted into 50,000 shares of Class A at a one‑for‑one rate; Class B has no expiration. Following the reported transactions, indirect holdings included 73,899 Class A shares and 20,086,034 Class B shares, and direct holdings included 16,840 Class A shares.

This filing lists transactions and resulting holdings; actual market impact depends on holder decisions and future disclosures.

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)
10/17/2025

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	10/17/2025		S(1)		700	D	$40.0319(2)	39,974	I	See(3)
Class A Common Stock	10/20/2025		S(1)		16,075	D	$40.3842(4)	23,899	I	See(3)
Class A Common Stock	10/21/2025		C(5)		50,000	A	$0	73,899	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
Class B Common Stock	$0	10/21/2025		C			50,000	(5)	(5)	Class A Common Stock	50,000	$0	20,086,034	I	See(3)

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 $40.07. 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 price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $40.00 to $40.59.

5. 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.

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

	/s/ Judith Weinstein, as Attorney-in-Fact for Jack Bendheim	10/21/2025
	/s/ Judith Weinstein, as Attorney-in-Fact for BFI Co., LLC	10/21/2025
	** 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 insider transactions did PAHC report on Form 4?

BFI Co., LLC sold 700 Class A shares on 10/17/2025 at a weighted average of $40.0319 and 16,075 Class A shares on 10/20/2025 at a weighted average of $40.3842, and converted 50,000 Class B shares to Class A on 10/21/2025.

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

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

What conversion occurred between PAHC Class B and Class A shares?

On 10/21/2025, 50,000 shares of Class B Common Stock were converted into 50,000 shares of Class A on a one-for-one basis.

What are the insider’s PAHC holdings after the transactions?

Following the transactions: 73,899 Class A shares indirectly owned, 16,840 Class A shares directly owned, and 20,086,034 Class B shares indirectly owned.

Who is the reporting person on the PAHC Form 4?

Jack Bendheim (Director, 10% Owner, President and CEO) and BFI Co., LLC, over which he exercises voting and dispositive power.

What price ranges did the PAHC sales occur at?

10/17/2025 sales ranged from $40.00 to $40.07; 10/20/2025 sales ranged from $40.00 to $40.59, reported as weighted averages.