BFI Co., LLC tied to PAHC (PAHC) CEO sells Class A shares in 10b5-1 plan

Rhea-AI Filing Summary

Phibro Animal Health (PAHC) insider activity centers on planned sales by BFI Co., LLC, an entity associated with President and CEO Jack Bendheim. BFI sold 6,772 Class A Common shares at a weighted average price of $40.1192 on January 29, 2026, and 6,693 shares at $40.0941 on January 30, 2026, under a Rule 10b5-1 trading plan adopted on May 30, 2025. After these transactions, BFI held 38,673 and then 31,980 shares indirectly, while Bendheim also directly held 16,840 Class A Common shares.

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)
01/29/2026

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	01/29/2026		S(1)		6,772	D	$40.1192(2)	38,673	I	See(3)
Class A Common Stock	01/30/2026		S(1)		6,693	D	$40.0941(4)	31,980	I	See(3)
Class A Common Stock								16,840	D(5)

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 $40.475. 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 footnote 4.

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 $40.365.

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

	/s/ Judith Weinstein, as Attorney-in-Fact for Jack Bendheim	02/02/2026
	/s/ Judith Weinstein, as Attorney-in-Fact for BFI Co., LLC	02/02/2026
	** 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.

FAQ

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

PAHC disclosed that BFI Co., LLC, an entity associated with Jack Bendheim, sold Class A Common Stock on January 29 and 30, 2026. Following these trades, BFI held 31,980 shares indirectly, while Bendheim directly held 16,840 Class A Common shares.

How many PAHC shares did BFI Co., LLC sell in the January 2026 transactions?

BFI Co., LLC sold 6,772 PAHC Class A shares on January 29, 2026 and 6,693 shares on January 30, 2026. Both transactions were open-market sales, reported as code “S” on the Form 4, and involved weighted average selling prices near $40 per share.

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

The reported PAHC share sales used weighted average prices. On January 29, 2026, shares were sold at $40.1192 within a $40.00–$40.475 range. On January 30, 2026, shares were sold at $40.0941 within a $40.00–$40.365 range, across multiple individual trades.

Was the PAHC insider sale by BFI Co., LLC part of a pre-arranged 10b5-1 plan?

Yes. The filing states that the reported sales were effected under a Rule 10b5-1 trading plan adopted by BFI Co., LLC on May 30, 2025. Such plans allow pre-arranged stock sales according to preset instructions, adding structure to insider trading activity.

How is Jack Bendheim related to the PAHC shares held by BFI Co., LLC?

The Form 4 explains that the reported securities are directly held by BFI Co., LLC. Jack Bendheim exercises voting and dispositive power over BFI and may be deemed to share voting and investment power, but he disclaims beneficial ownership except for his pecuniary interest.

How many PAHC shares does Jack Bendheim hold directly according to this filing?

According to the filing, 16,840 PAHC Class A Common shares are directly held by Jack Bendheim. These directly held shares are reported separately from the indirectly held shares owned by BFI Co., LLC, providing a clearer picture of his personal and entity-related holdings.