BENDHEIM JACK 4

What Happened
Jack Bendheim, a director and 10% owner of Phibro Animal Health Corp. (PAHC), sold a total of 21,120 shares in open-market transactions between March 24–26, 2026. The individual lots reported: 6,523; 517; 1,572; 4,916; 552; 6,760; and 280 shares, producing aggregate proceeds of approximately $1,166,105. Prices on the reported lots were weighted averages across multiple executions, with transaction-level weighted prices reported from about $52.88 up to $57.17 and price ranges in the filing spanning roughly $52.44 to $57.24. These were sales (S) — typically routine disposition transactions rather than purchases.

Key Details

• Dates: March 24, 25 and 26, 2026. Filing date: March 26, 2026 (timely).
• Shares sold: 21,120 total; aggregate proceeds ≈ $1,166,105.
• Reported prices: weighted-average per lot (examples: $52.88, $53.59, $55.28, $56.00, $56.86, $56.79, $57.17); overall reported ranges ~$52.44–$57.24 (see footnotes).
• Beneficial ownership after the transactions: not specified in the provided summary of the filing.
• Notable footnotes: sales were effected pursuant to a Rule 10b5-1 trading plan adopted by BFI Co., LLC (Dec 11, 2025). Some reported securities are directly held by BFI (over which Mr. Bendheim exercises voting and dispositive power) while others are directly held by Jack Bendheim; footnotes note weighted-average pricing and provide price ranges for multiple executions.
• Transaction type/code: S = Sale. Filing appears timely (no late filing flag).

Context
These transactions were executed under a pre-established Rule 10b5-1 plan (a common mechanism that allows insiders to sell shares according to a predetermined schedule), and some shares involved entities (BFI) where Mr. Bendheim has control. Sales under a 10b5-1 plan are generally viewed as planned dispositions and do not necessarily signal a change in the insider’s view of the company. As always, retail investors should consider insider trades alongside broader fundamentals and other disclosures.