BENDHEIM JACK 4

What Happened

• Jack Bendheim (director and reporting person) and BFI Co., LLC (a 10% owner controlled by Bendheim) reported open-market sales of common stock in Phibro Animal Health Corp (PAHC). Each reporting person reported selling the same set of shares: 14,687 shares on 2026-01-21 and two tranches of 11,875 and 1,283 shares on 2026-01-22.
• Totals per reporting person: 27,845 shares disposed for aggregate proceeds of approximately $1,164,548. Individual weighted-average prices reported were $41.68, $41.91 and $42.68 for the three tranches (see footnote price ranges below). These are sales (not purchases) and are generally treated as routine dispositions unless other context is provided.

Key Details

• Transaction dates and reported weighted-average prices:
  • 2026-01-21: 14,687 shares @ $41.68 (weighted avg; prices in range $41.11–$42.02)
  • 2026-01-22: 11,875 shares @ $41.91 (weighted avg; prices in range $41.58–$42.53)
  • 2026-01-22: 1,283 shares @ $42.68 (weighted avg; prices in range $42.62–$42.77)
• Aggregate per reporting person: 27,845 shares sold for ~$1.16M.
• Ownership after transaction: not specified in the supplied Form 4 data.
• Notable footnotes:
  • BFI Co.’s reported sales were effected pursuant to a Rule 10b5-1 trading plan adopted May 30, 2025.
  • BFI directly holds the securities; Jack Bendheim exercises voting/dispositive power over BFI and may be deemed to share power over those securities (Bendheim disclaims beneficial ownership except to the extent of his pecuniary interest). Some reported securities are directly held by Bendheim (per filing).
  • Reported prices are weighted averages; the filing offers to provide detailed per-price breakdowns on request.
• Timeliness: Form filed 2026-01-22 covering transactions on 2026-01-21 and 01-22; no late filing flag indicated in the provided data.

Context

• These were outright sales (transaction code S) — routine insider disposals are common and do not alone indicate company outlook.
• The presence of a 10b5-1 plan for the entity sales means at least some trades were pre-scheduled according to a trading plan adopted in 2025.
• Because BFI is a 10% owner and Bendheim controls BFI, filings show both the entity and the individual; this reflects reporting rules, not necessarily two independent decisions.