[Form 4] Phibro Animal Health Corporation Insider Trading Activity

Rhea-AI Filing Summary

Jack Bendheim and BFI Co., LLC reported insider sales of Phibro Animal Health Corporation (PAHC) Class A common stock executed under a Rule 10b5-1 trading plan adopted May 30, 2025. Between 09/09/2025 and 09/11/2025 the reporting persons sold a total of 16,840 shares in multiple transactions: 14,080 shares on 09/09/2025 at a weighted average price of $40.3296, 3,520 shares on 09/10/2025 at a weighted average price of $41.2885, and 3,520 shares on 09/11/2025 at a weighted average price of $40.948. The filings show beneficial ownership held indirectly by BFI with Bendheim exercising voting and dispositive power; Bendheim disclaims beneficial ownership except for his pecuniary interest. Forms were signed by an attorney-in-fact on 09/11/2025.

Positive

• Transactions executed under a Rule 10b5-1 trading plan adopted May 30, 2025
• Filing discloses weighted-average prices and price ranges for transparency
• Relationship and ownership structure (indirect via BFI Co., LLC) are clearly explained
• Form includes attorney-in-fact signatures dated 09/11/2025

Negative

• Insider sales total 16,840 shares, reducing reported holdings to 38,360 shares
• Sales executed over multiple days which may obscure per-trade prices without additional detail

Insights

Securities Analyst

TL;DR: Routine insider sales via a 10b5-1 plan; transparent weighted-average pricing disclosed.

The transactions are described as plan-based sales rather than ad-hoc disposals, which typically reduces informational content about insider timing. The filing discloses aggregate share counts and weighted-average prices across multiple trades, and shows indirect ownership through BFI Co., LLC with Bendheim retaining voting/control via that entity. For investors, the primary takeaway is disclosure quality: dates, aggregate shares sold (16,840) and post-transaction holdings (38,360 shares) are provided, but the seller relied on a pre-established plan adopted May 30, 2025.

Corporate Governance Expert

TL;DR: Governance disclosure is consistent with rules; reliance on 10b5-1 is explicitly stated.

The Form 4 clearly identifies the relationship of the reporting persons to the issuer and cites the Rule 10b5-1 plan, which supports an affirmative defense for transactions. Footnotes explain indirect ownership through BFI and the range of execution prices, and signatures by an attorney-in-fact are included. This filing meets standard disclosure expectations for insider sales, showing no new governance irregularities within the document itself.

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)
09/09/2025

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	09/09/2025		S(1)		14,080	D	$40.3296(2)	45,400	I	See(3)
Class A Common Stock	09/10/2025		S(1)		3,520	D	$41.2885(4)	41,880	I	See(3)
Class A Common Stock	09/11/2025		S(1)		3,520	D	$40.948(5)	38,360	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 $40.00 to $40.81. 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 $41.23 to $41.39.

5. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $40.665 to $41.265.

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

Remarks:

Exhibit List - Exhibit 24.1 Power of Attorney

	/s/ Judith Weinstein, as Attorney-in-Fact for Jack Bendheim	09/11/2025
	/s/ Judith Weinstein, as Attorney-in-Fact for BFI Co., LLC	09/11/2025
	** 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 were reported for PAHC on this Form 4?

The Form 4 reports sales totaling 16,840 Class A shares by Jack Bendheim and BFI Co., LLC on 09/09/2025 through 09/11/2025.

Were the sales executed under a 10b5-1 plan for PAHC insiders?

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

What prices were reported for the PAHC share sales?

Weighted-average prices reported are $40.3296 (09/09/2025), $41.2885 (09/10/2025) and $40.948 (09/11/2025); footnotes disclose price ranges for the underlying trades.

How is beneficial ownership described in the filing for PAHC?

The securities are directly held by BFI Co., LLC; Jack Bendheim exercises voting and dispositive power over BFI and disclaims beneficial ownership except to the extent of his pecuniary interest.

Who signed the Form 4 for these PAHC transactions?

The Form 4 was signed by Judith Weinstein as attorney-in-fact for both Jack Bendheim and BFI Co., LLC on 09/11/2025.