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

Rhea-AI Filing Summary

Ellida McMillan, Chief Financial Officer of PhenixFIN Corp (PFX), reported two purchases of the issuer's common stock. The Form 4 shows a purchase on 06/23/2025 of 1 share at $48.12, after which Ms. McMillan beneficially owned 2,637 shares directly. A second purchase is reported for 08/14/2025 of 350 shares at $49.25, bringing direct beneficial ownership to 2,987 shares. The filing is signed by Ms. McMillan on 08/18/2025. All transactions are listed as direct holdings in common stock.

Positive

• Insider purchases disclosed: CFO reported acquiring shares on 06/23/2025 and 08/14/2025, increasing direct ownership to 2,987 shares.
• Clear, signed disclosure: Form 4 includes transaction dates, prices, and a dated signature, meeting standard Section 16 reporting elements.

Negative

• None.

Insights

Financial Analyst

TL;DR: Insider purchases totaling 351 shares at ~ $48.50 indicate incremental insider buying but are small in absolute size.

These entries show the CFO acquiring common stock on two dates for a total of 351 shares at stated prices of $48.12 and $49.25. The purchases increase direct beneficial ownership to 2,987 shares. From a liquidity and signaling standpoint, the transactions are modest and do not by themselves imply a material change to the company capital structure or ownership concentration.

Corporate Governance Expert

TL;DR: Form 4 is properly signed and discloses direct purchases by an officer, meeting basic Section 16 reporting requirements.

The filing identifies the reporting person, her office as Chief Financial Officer, and lists transaction dates, share amounts, and prices. The document includes the required signature dated 08/18/2025. There are no indications of indirect holdings or complex derivative transactions in this report, simplifying review for compliance and disclosure purposes.

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^*

McMillan Ellida

(Last) (First) (Middle)

445 PARK AVENUE, 10TH FLOOR

7TH FL

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
06/23/2025

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	06/23/2025		P		1	A	$48.12	2,637	D
COMMON STOCK, $0.001 par value	08/14/2025		P		350	A	$49.25	2,987	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/ Ellida McMillan	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 this Form 4 for PhenixFIN Corp (PFX)?

Ellida McMillan, identified as Chief Financial Officer, filed the Form 4 and signed it on 08/18/2025.

What transactions are reported on this Form 4 for PFX?

Two purchases of common stock are reported: 1 share on 06/23/2025 at $48.12 and 350 shares on 08/14/2025 at $49.25.

How many shares does the reporting person own after the reported transactions?

After the reported transactions the filing shows 2,987 shares beneficially owned directly by the reporting person.

Are any derivative or indirect holdings disclosed in this Form 4?

No. The filing lists only direct holdings of common stock and shows no derivative securities or indirect ownership.

What prices were paid in the reported transactions?

The reported purchase prices are $48.12 for the 06/23/2025 transaction and $49.25 for the 08/14/2025 transaction.