[Form 4] PhenixFIN Corporation 5.25% Notes due 2028 Insider Trading Activity

Lowell W. Robinson, a director of PhenixFIN Corp, reported three purchases of common stock in August 2025.

Rhea-AI Filing Summary

Lowell W. Robinson, a director of PhenixFIN Corp, reported three purchases of common stock in August 2025. He bought 27 shares on 08/08/2025 at $49 each, increasing his holdings to 1,527 shares; 101 shares on 08/11/2025 at $49.13 each, increasing to 1,628 shares; and 36 shares on 08/12/2025 at $49.13 each, bringing total holdings to 1,664 shares. The Form 4 is signed by Mr. Robinson on 08/12/2025.

Insights

Financial Analyst

TL;DR Insider purchases totaling 164 shares are disclosed but are small in monetary terms and likely immaterial to valuation.

The filing shows incremental purchases on three dates in August 2025 that raise the director's direct stake to 1,664 shares. The aggregate cost of the reported purchases is approximately $8,054 based on the reported prices. From a financial-materiality perspective, the transactions are modest and unlikely to move investor valuation, though they do increase the director's direct ownership.

Corporate Governance Expert

TL;DR Form 4 is properly executed and reports direct purchases by a director, indicating routine insider reporting and compliance.

The document is a Section 16 Form 4 reporting three purchase transactions by Lowell W. Robinson, identified as a director. The form is signed on 08/12/2025 and shows direct beneficial ownership changes only. There are no derivative transactions reported and no amendments noted. This reflects standard disclosure practice under Section 16.

Insider Trade Summary

Net Buyer: 164 shares

Net Buy 3 txns

Insider ROBINSON LOWELL W

Role Director

Bought 164 shs ($8K)

Type	Security	Shares	Price	Value
Purchase	COMMON STOCK, $0.001 par value	36	$49.13	$2K
Purchase	COMMON STOCK, $0.001 par value	101	$49.13	$5K
Purchase	COMMON STOCK, $0.001 par value	27	$49.00	$1K

Holdings After Transaction: COMMON STOCK, $0.001 par value — 1,664 shares (Direct)

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Accepted by SEC EDGAR 08/12/2025 - 05:04 PM Learn about SEC filing dates

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^*

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)
08/08/2025

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	08/08/2025		P		27	A	$49	1,527	D
COMMON STOCK, $0.001 par value	08/11/2025		P		101	A	$49.13	1,628	D
COMMON STOCK, $0.001 par value	08/12/2025		P		36	A	$49.13	1,664	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:

	/s/ Lowell W. Robinson	08/12/2025
	** 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.