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

Rhea-AI Filing Summary

PhenixFIN Corporation (PFX) director Lowell W. Robinson reported purchases of the issuer's common stock in mid-August 2025. The Form 4 shows three non-derivative acquisitions: 132 shares on 08/14/2025 at a weighted-average price of $48.895, 15 shares on 08/15/2025 at $48.87, and 100 shares on 08/18/2025 at $49.03. The filing lists the reporter as a director and the transactions were reported as direct holdings. Following these trades, the amounts reported as beneficially owned after each transaction were 1,796 shares, 1,811 shares, and 1,911 shares respectively. The filing includes a footnote stating the 08/14 weighted average price reflects multiple executions between $48.70 and $49.25.

Insights

Financial Analyst

TL;DR: Director made small, direct purchases of common stock in mid-August; transactions are routine and not clearly material.

The Form 4 discloses three open-market acquisitions by a director totaling 247 shares over three days at prices around $48.90 per share. These transactions increased reported direct beneficial ownership incrementally to 1,911 shares. From a financial-materiality standpoint, the share amounts are modest and the filing contains no information about options, derivatives, or larger programmatic sales or purchases. The weighted-average pricing disclosure for 08/14 indicates multiple executions within a narrow price range.

Corporate Governance Expert

TL;DR: Insider purchases by a director reflect personal buying but provide limited governance or control implications given small size.

The report identifies Lowell W. Robinson as a director and shows only direct ownership changes via common stock purchases. There are no amendments, joint filers, nor indications of a Rule 10b5-1 plan checked on the form. The filing is properly signed and includes the required explanatory footnote on weighted-average pricing. For governance analysis, these are routine disclosures without evidence of material change to ownership or control.

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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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)
08/14/2025

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	08/14/2025		P		132	A	$48.895(1)	1,796	D
COMMON STOCK, $0.001 par value	08/15/2025		P		15	A	$48.87	1,811	D
COMMON STOCK, $0.001 par value	08/18/2025		P		100	A	$49.03	1,911	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 $48.70 to $49.25, 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 sold at each separate price within the ranges set forth in footnote (1) to this Form 4.

	/s/ Lowell W. Robinson	08/18/2025
	** 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

Who filed the Form 4 for PhenixFIN (PFX)?

The Form 4 was filed by Lowell W. Robinson, identified in the filing as a director.

What transactions are reported on this Form 4?

Three direct purchases of common stock: 132 shares on 08/14/2025, 15 shares on 08/15/2025, and 100 shares on 08/18/2025.

What prices were paid for the shares reported?

Prices reported are a weighted-average of $48.895 on 08/14/2025, $48.87 on 08/15/2025, and $49.03 on 08/18/2025. The 08/14 price reflects multiple executions between $48.70 and $49.25.

How many shares did the reporting person beneficially own after these transactions?

The filing lists beneficial ownership after each transaction as 1,796, 1,811, and 1,911 shares respectively.

Does the Form 4 indicate any derivative or option transactions?

No. Table II for derivative securities contains no reported transactions; only non-derivative common stock purchases are disclosed.