[Form 4] PhenixFIN Corp Insider Trading Activity

Rhea-AI Filing Summary

Insider purchases of PhenixFIN Corp common stock reported by director Lowell W. Robinson. The filing discloses two open-market purchases totaling 130 shares at weighted-average prices of $48.09 and $48.26, increasing the reporting person’s beneficial ownership to 3,000 shares. Each reported price reflects multiple transactions within specified price ranges.

The disclosure is limited to these non-derivative purchases and includes undertakings to provide detailed per-transaction price breakdowns on request. No options, disposals, or other material changes to ownership form are reported.

Positive

• Director Lowell W. Robinson purchased shares, increasing beneficial ownership to 3,000 shares.

Negative

• None.

Insights

Financial Analyst

TL;DR: A director made small open-market buys, modestly increasing stake to 3,000 shares.

The transactions—130 total shares acquired via two weighted-average purchases around $48—signal an insider purchase but represent a limited absolute increase in holdings. For investors, insider buys can indicate confidence, but the aggregate size here is small relative to institutional positions and does not materially alter control or capital structure. The filing’s clear price ranges and willingness to provide per-trade details improve transparency.

Corporate Governance Expert

TL;DR: Routine Form 4 reporting of director purchases with standard disclosures; governance impact is minimal.

The report properly discloses the director’s beneficial ownership change and includes explanatory footnotes about weighted-average pricing and availability of transaction-level details. There are no related-party transfers, option exercises, or indirect ownership changes disclosed. From a governance perspective, this is a routine insider purchase with no material governance implications disclosed in the document.

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
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

ROBINSON LOWELL W

(Last) (First) (Middle)

445 PARK AVENUE,

10TH FLOOR

(Street)

NEW YORK NY 10022

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/16/2025

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

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

X	Form filed by One Reporting Person
	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
COMMON STOCK, $0.001 par value	09/16/2025		P		86	A	$48.09(1)	2,956	D
COMMON STOCK, $0.001 par value	09/17/2025		P		44	A	$48.26(2)	3,000	D

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

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 $48.05 to $48.10, 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. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $48.15 to $48.27, 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 (2) to this Form 4.

	/s/ Lowell W. Robinson	09/18/2025
	** 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 activity is reported for PhenixFIN Corp (PFXNZ)?

The filing reports two open-market purchases totaling 130 shares, raising the director’s beneficial ownership to 3,000 shares.

At what prices were the PFXNZ shares purchased?

The purchases were reported at weighted-average prices of $48.09 (range $48.05–$48.10) and $48.26 (range $48.15–$48.27).

Who filed the Form 4 for PFXNZ and what is their relationship to the issuer?

The Form 4 was filed by Lowell W. Robinson, who is reported as a director of PhenixFIN Corp.

Are there any derivative transactions or dispositions disclosed in this Form 4?

No. The filing shows only non-derivative purchases; there are no derivative securities, dispositions, or indirect ownership changes reported.

Does the filing provide breakdowns of individual trade prices?

The filing states the reported prices are weighted averages across multiple trades and offers to provide per-trade details upon request.