Rule 10b5-1 sales by Phibro (PAHC) entity tied to CEO Bendheim

Rhea-AI Filing Summary

Phibro Animal Health reported insider transactions involving an entity associated with its President and CEO, Jack Bendheim. BFI Co., LLC, a ten percent owner, sold a total of 14,080 shares of Class A Common Stock in open-market transactions on February 13 and 18, 2026 under a pre-established Rule 10b5-1 trading plan adopted on May 30, 2025. The weighted average sale prices were around $51–$52 per share, with detailed price ranges disclosed in the footnotes. After these sales, BFI held 36,680 shares, and Bendheim also directly held 16,840 shares. The filing notes that Bendheim may be deemed to share voting and investment power over BFI’s holdings but disclaims beneficial ownership except to the extent of his pecuniary interest.

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)
02/13/2026

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	02/13/2026		S(1)		7,040	D	$51.9633(2)	43,720	I	See(3)
Class A Common Stock	02/18/2026		S(1)		6,824	D	$51.3774(4)	36,896	I	See(3)
Class A Common Stock	02/18/2026		S(1)		216	D	$51.9688(5)	36,680	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

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 $51.61 to $52.345. 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 and 5.

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 $50.90 to $51.875.

5. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $51.90 to $52.05.

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

	/s/ Judith Weinstein, as Attorney-in-Fact for Jack Bendheim	02/18/2026
	/s/ Judith Weinstein, as Attorney-in-Fact for BFI Co., LLC	02/18/2026
	** 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).
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FAQ

What insider transactions did Phibro Animal Health (PAHC) report in this Form 4?

The Form 4 reports that BFI Co., LLC sold 14,080 shares of Phibro Animal Health Class A Common Stock in open-market transactions on February 13 and 18, 2026, at weighted average prices around $51–$52 per share, as detailed in the footnotes.

Who conducted the PAHC share sales and how is Jack Bendheim involved?

The sales were conducted by BFI Co., LLC, a ten percent owner of Phibro Animal Health. 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.

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

Yes. The filing states the reported sales were effected under a Rule 10b5-1 trading plan adopted by BFI Co., LLC on May 30, 2025. Such plans pre-arrange trading activity, providing a structured framework for systematic insider share sales over time.

What prices were received for the PAHC shares sold in these transactions?

The filing reports weighted average prices of $51.3774, $51.9688 and $51.9633 per share. Footnotes add that individual trades occurred in ranges such as $50.90 to $51.875 and $51.90 to $52.05, with full breakdowns available on request.

How many PAHC shares remain held after these insider sales?

After the reported sales, BFI Co., LLC held 36,680 shares of Phibro Animal Health Class A Common Stock. In addition, 16,840 shares are reported as directly held by Jack Bendheim, providing context for his combined direct and indirect share exposure.

What does it mean that Jack Bendheim disclaims beneficial ownership of certain PAHC shares?

The filing explains that the securities sold and held indirectly are directly owned by BFI Co., LLC. Bendheim may be deemed to share voting and investment power, but he formally disclaims beneficial ownership except to the extent of his pecuniary interest in those securities.