BENDHEIM JACK 4

What Happened

• Jack Bendheim, a 10% owner, director and officer of Phibro Animal Health Corporation (PAHC), sold a total of 22,880 shares in open-market transactions between March 17 and March 19, 2026, generating aggregate proceeds of approximately $1,198,818. Individual reported disposals: 5,280 @ $51.66; 4,311 @ $51.80 (wtd avg); 3,598 @ $53.03 (wtd avg); 2,651 @ $53.64 (wtd avg); 1,939 @ $51.78; 4,977 @ $52.79; and 124 @ $53.24.

Key Details

• Transaction type: Sales (Code S) in open market.
• Dates: March 17–19, 2026. Filing date: March 19, 2026 (appears timely).
• Total shares sold: 22,880; total proceeds: ~$1.20 million.
• Reported prices are weighted averages for several lots; per-footnote price ranges across the trades were roughly $51.19 to $53.88.
• Footnotes: Sales were effected pursuant to a Rule 10b5-1 trading plan adopted by BFI Co., LLC on Dec 11, 2025 (F1). Many shares are held directly by BFI; Bendheim exercises voting/dispositive power over BFI and disclaims beneficial ownership except for his pecuniary interest (F3). One lot is reported as directly held by Jack Bendheim (F9). Per the filing, detailed per-price breakdowns are available on request (F2–F8).
• Shares owned after transaction: Not specified in the provided data.

Context

• These are routine sales under a pre-established 10b5-1 plan rather than open-market discretionary trades by the insider. For retail investors, sales under 10b5-1 plans often reflect pre-planned liquidity rather than a contemporaneous view on the company’s prospects; purchases generally carry more inferred bullish signal. No options were exercised and no awards or gifts were reported in this filing.