PhenixFIN (PFX) CEO David A. Lorber buys 42,065 shares in open-market trade

Q: What insider transaction did PhenixFIN Corp (PFX) report for David A. Lorber?

PhenixFIN Corp reported that David A. Lorber purchased 42,065 shares of common stock in an open-market transaction. The weighted average purchase price was $39.95 per share , reflecting multiple trades within a disclosed price range between $39.00 and $40.00 .

Q: At what price did David A. Lorber buy PhenixFIN Corp (PFX) shares?

David A. Lorber bought PhenixFIN Corp common shares at a weighted average price of $39.95 per share. A footnote states the purchases occurred in multiple trades, with individual prices ranging from $39.00 to $40.00 , inclusive, across the reported transactions.

Q: How are David A. Lorber’s indirect PhenixFIN Corp (PFX) holdings structured?

Lorber’s indirect holdings consist of 3,378 shares of PhenixFIN Corp common stock in his spouse’s retirement account . The filing labels these shares as indirectly owned, clarifying that they are held for the benefit of his spouse rather than in his direct brokerage account.

Filing Impact

(Very High)

Filing Sentiment

(Positive)

Form Type

Rhea-AI Filing Summary

PhenixFIN Corp director and CEO David A. Lorber reported an open-market purchase of 42,065 shares of common stock at a weighted average price of $39.95 per share on May 12, 2026. A footnote explains these shares were bought in multiple trades between $39.00 and $40.00.

After this transaction, Lorber directly owns 245,198 common shares. His indirect holdings include 3,378 shares held in his spouse’s retirement account. His reported beneficial ownership also reflects 56,537 shares previously received as an in-kind distribution from FrontFour Master Fund, Ltd.

Insider Trade Summary

Net Buyer: 42,065 shares ($1,680,497)

Net Buy 2 txns

Insider Lorber David A

Role CHAIRMAN AND CEO

Bought 42,065 shs ($1.68M)

Type	Security	Shares	Price	Value
Purchase	COMMON STOCK	42,065	$39.95	$1.68M
holding	COMMON STOCK	--	--	--

Holdings After Transaction: COMMON STOCK — 245,198 shares (Direct, null); COMMON STOCK — 3,378 shares (Indirect, By spouse)

Footnotes (1)

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $39.00 to $40.00, inclusive. The reporting person undertakes to provide to PhenixFIN Corporation, any security holder of PhenixFIN Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (1) to this Form 4. Includes 56,537 shares received as an in-kind distribution from FrontFour Master Fund, Ltd. In prior reports, the reporting person reported beneficial ownership of 81,662.416 shares of PhenixFIN Corporation common stock held by FrontFour Master Fund, Ltd. Shares held in the reporting person's spouse's retirement account.

Key Figures

Shares purchased: 42,065 shares Weighted average purchase price: $39.95 per share Purchase price range: $39.00–$40.00 per share +4 more

7 metrics

Shares purchased 42,065 shares Open-market purchase of common stock on May 12, 2026

Weighted average purchase price $39.95 per share Price for 42,065 common shares bought in multiple trades

Purchase price range $39.00–$40.00 per share Range of individual transaction prices for the reported purchase

Direct holdings after transaction 245,198 shares Total direct PhenixFIN common shares owned by Lorber after purchase

Indirect spouse holdings 3,378 shares Shares held in the reporting person’s spouse’s retirement account

In-kind distribution received 56,537 shares Shares received from FrontFour Master Fund, Ltd as in-kind distribution

Prior fund-reported holdings 81,662.416 shares Earlier reported PhenixFIN shares held by FrontFour Master Fund, Ltd

Key Terms

weighted average price, in-kind distribution, retirement account, beneficial ownership

4 terms

weighted average price financial

"The price reported in Column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

in-kind distribution financial

"Includes 56,537 shares received as an in-kind distribution from FrontFour Master Fund, Ltd."

retirement account financial

"Shares held in the reporting person's spouse's retirement account."

beneficial ownership financial

"the reporting person reported beneficial ownership of 81,662.416 shares of PhenixFIN Corporation common stock"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Form 4 Insider Transactions: What Each Field Means →

05/14/2026 - 05:39 PM

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).

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^*

Lorber David A

(Last)

(First)

(Middle)

445 PARK AVENUE, 10TH FLOOR

(Street)

NEW YORK

10022

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
PhenixFIN Corp [ PFX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	CHAIRMAN AND CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/12/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
COMMON STOCK	05/12/2026		P		42,065	A	$39.95⁽¹⁾	245,198⁽²⁾	D
COMMON STOCK								3,378	I	By spouse⁽³⁾

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $39.00 to $40.00, inclusive. The reporting person undertakes to provide to PhenixFIN Corporation, any security holder of PhenixFIN Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (1) to this Form 4.

2. Includes 56,537 shares received as an in-kind distribution from FrontFour Master Fund, Ltd. In prior reports, the reporting person reported beneficial ownership of 81,662.416 shares of PhenixFIN Corporation common stock held by FrontFour Master Fund, Ltd.

3. Shares held in the reporting person's spouse's retirement account.

	/s/ David A. Lorber	05/14/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did PhenixFIN Corp (PFX) report for David A. Lorber?

PhenixFIN Corp reported that David A. Lorber purchased 42,065 shares of common stock in an open-market transaction. The weighted average purchase price was $39.95 per share, reflecting multiple trades within a disclosed price range between $39.00 and $40.00.

At what price did David A. Lorber buy PhenixFIN Corp (PFX) shares?

David A. Lorber bought PhenixFIN Corp common shares at a weighted average price of $39.95 per share. A footnote states the purchases occurred in multiple trades, with individual prices ranging from $39.00 to $40.00, inclusive, across the reported transactions.

How many PhenixFIN Corp (PFX) shares does David A. Lorber own after this filing?

Following the reported purchase, David A. Lorber directly owns 245,198 shares of PhenixFIN Corp common stock. He also has indirect ownership of 3,378 shares held in his spouse’s retirement account, contributing to his overall reported beneficial ownership position.

What does the in-kind distribution mentioned in the PhenixFIN Corp (PFX) Form 4 mean?

The filing notes that Lorber’s beneficial ownership includes 56,537 shares received as an in-kind distribution from FrontFour Master Fund, Ltd. A prior report had shown 81,662.416 shares held by that fund, indicating part of those shares was distributed directly to him.

How are David A. Lorber’s indirect PhenixFIN Corp (PFX) holdings structured?

Lorber’s indirect holdings consist of 3,378 shares of PhenixFIN Corp common stock in his spouse’s retirement account. The filing labels these shares as indirectly owned, clarifying that they are held for the benefit of his spouse rather than in his direct brokerage account.