X0202 SCHEDULE 13D/A 0001571049-14-001352 0001601607 XXXXXXXX LIVE 25 Class A Common Stock, par value $0.0001 per share 05/20/2026 false 0001069899 71742Q106 Phibro Animal Health Corporation

Glenpointe Centre East, 3rd Fl. 300 Frank W. Burr Blvd., Ste 21 Teaneck NJ 07666-6712

Jack C. Bendheim (201) 329-7300 Glenpointe Centre East, 3rd Fl. 300 Frank W. Burr Blvd., Ste 21 Teaneck NJ 07666-6712 0001601607 N BFI Co., LLC OO N DE 0.00 19552186.00 0.00 19552186.00 19552186.00 N 48.2 HC The Reporting Person holds 56,152 shares of Class A Common Stock, par value $0.0001 per share ("Class A Common Stock"), and 19,496,034 shares of Class B Common Stock, par value $0.0001 per share ("Class B Common Stock" and, together with the Class A Common Stock, the "Common Stock") as of May 22, 2026. Class B Common Stock is convertible into Class A Common Stock at any time after issuance on a one-for-one basis, and has no expiration date. Class B Common Stock has economic rights identical to Class A Common Stock and entitles the record holder to ten (10) votes per share of Class B Common Stock on all matters to be voted on by stockholders generally. Class A Common Stock entitles the record holder to one (1) vote per share of Class A Common Stock. All percentages are calculated using a fraction, the numerator of which is the total number of shares of Common Stock set forth above and the denominator of which is 40,564,716, which is equal to the sum of 21,068,682 shares of Class A Common Stock outstanding as of May 1, 2026, as reported in the Issuer's Form 10-Q for the quarter ended March 31, 2026, filed on May 6, 2026, plus 19,496,034 shares of Class A Common Stock issuable upon conversion of Class B Common Stock beneficially owned by the Reporting Person. Y Jack C. Bendheim OO N X1 0.00 19552186.00 0.00 19552186.00 19552186.00 N 48.2 IN The reported securities represent 19,552,186 shares of Common Stock directly held by BFI Co., LLC ("BFI"). Mr. Bendheim exercises voting and dispositive power over BFI and may be deemed to have shared voting and investment power over the securities held by BFI. Mr. Bendheim may be deemed to be the beneficial owner of 56,152 shares of Class A Common Stock and 19,496,034 shares of Class B Common Stock as of May 22, 2026. Class B Common Stock has economic rights identical to Class A Common Stock and entitles the record holder to ten (10) votes per share of Class B Common Stock on all matters to be voted on by stockholders generally. Class A Common Stock entitles the record holder to one (1) vote per share of Class A Common Stock. All percentages are calculated using a fraction, the numerator of which is the total number of shares of Common Stock set forth above and the denominator of which is 40,564,716, which is equal to the sum of 21,068,682 shares of Class A Common Stock outstanding as of May 1, 2026, as reported in the Issuer's Form 10-Q for the quarter ended March 31, 2026, filed on May 6, 2026, plus 19,496,034 shares of Class A Common Stock issuable upon conversion of Class B Common Stock beneficially owned by the Reporting Person. Class A Common Stock, par value $0.0001 per share Phibro Animal Health Corporation Glenpointe Centre East, 3rd Fl. 300 Frank W. Burr Blvd., Ste 21 Teaneck NJ 07666-6712 This Amendment No. 25 to Schedule 13D (this "Amendment") relates to the Class A Common Stock of Phibro Animal Health Corporation, a Delaware corporation (the "Issuer") beneficially owned by the Reporting Persons. This Amendment is being filed by each of the Reporting Persons to amend the Schedule 13D (the "Schedule 13D") which was originally filed on April 29, 2014 and amended by that certain Amendment No. 1 to Schedule 13D, filed August 11, 2014, that certain Amendment No. 2 to Schedule 13D, filed March 24, 2015, that certain Amendment No. 3 to Schedule 13D, filed August 4, 2015, that certain Amendment No. 4 to Schedule 13D, filed November 2, 2015, that certain Amendment No. 5 to Schedule 13D, filed March 23, 2016, that certain Amendment No. 6 to Schedule 13D, filed May 30, 2017, that certain Amendment No. 7 to Schedule 13D, filed June 23, 2017, that certain Amendment No. 8 to Schedule 13D, filed July 14, 2017, that certain Amendment No. 9 to Schedule 13D, filed December 26, 2017, that certain Amendment No. 10 to Schedule 13D, filed June 26, 2018, that certain Amendment No. 11 to Schedule 13D, filed September 17, 2018, that certain Amendment No. 12 to Schedule 13D, filed June 26, 2019, that certain Amendment No. 13 to Schedule 13D, filed December 20, 2019, that certain Amendment No. 14 to Schedule 13D, filed June 8, 2020, that certain Amendment No. 15 to Schedule 13D, filed December 15, 2020, that certain Amendment No. 16 to Schedule 13D, filed June 25, 2021, that certain Amendment No. 17 to Schedule 13D, filed May 25, 2022, that certain Amendment No. 18 to Schedule 13D, filed December 16, 2022, that certain Amendment No. 19 to Schedule 13D, filed June 8, 2023, that certain Amendment No. 20 to Schedule 13D, filed February 12, 2024, that certain Amendment No. 21 to Schedule 13D, filed November 15, 2024, that certain Amendment No. 22 to Schedule 13D, filed June 3, 2025, that certain Amendment No. 23 to Schedule 13D, filed December 15, 2025 and that certain Amendment No. 24 to Schedule 13D, filed April 23, 2026. Except as otherwise set forth herein, this Amendment does not modify any of the information previously reported by the Reporting Persons in the Schedule 13D. Item 4 of the Schedule 13D is hereby supplemented as follows: On May 20 2026, BFI entered into a Rule 10b5-1 sales plan (the "Sales Plan") with Goldman, Sachs & Co. LLC ("Broker") pursuant to which Broker is authorized and directed to sell on behalf of BFI up to 750,000 shares of Class A Common Stock through March 17, 2027, subject to satisfaction of certain conditions, including among others, minimum sale prices and limits on the number of shares that can be sold on a single trading day. All transactions under the Sales Plan are to be made in accordance with the terms and conditions of the Sales Plan. The Sales Plan was adopted to enable BFI to sell a modest portion of its shares of Class A Common Stock (and Class B Common Stock that BFI converts to Class A Common Stock). By using a Rule 10b5-1 Sales Plan, BFI can diversify its investment portfolio over an extended period of time. The Sales Plan became effective as of May 20, 2026 and shall terminate on the earliest of (a) March 17, 2027, (b) the date on which all transactions under the Sales Plan are completed, (c) the date Broker reasonably determines that: (i) the Sales Plan does not comply with Rule 10b5-1(c) or other applicable laws, (ii) BFI has not complied with the Sales Plan, or (iii) BFI's representations or warranties in the Sales Plan are not true and correct, or BFI can no longer make such representations and warranties, (d) the date Broker receives notice of the death, dissolution, liquidation, bankruptcy or insolvency of BFI or the Issuer, (e) the date Broker receives notice of the closing of a merger, recapitalization, acquisition, tender or exchange offer, or other business combination or reorganization resulting in the exchange or conversion of the shares of the Issuer into shares of another company, (f) the date the stock of the Issuer is no longer listed on a national securities exchange or (g) the date that the Broker receives notice in writing of termination of the Sales Plan from BFI in the form specified in the Sales Plan with the written acknowledgement of the Issuer. The first possible trade date under the Sales Plan is September 16, 2026. Based on BFI's beneficial ownership as of May 22, 2026, if all shares covered by the Sales Plan are sold, BFI will continue to hold 56,152 shares of Class A Common Stock and 18,746,034 shares of Class B Common Stock, which are exchangeable for 18,746,034 shares of Class A Common Stock. Except as described above, none of the Reporting Persons currently has any plans or proposals which would be related to or would result in any of the matters described in Items 4(a)-(j) of Schedule 13D. However, as part of the ongoing evaluation of investment alternatives, the Reporting Persons may consider such matters and, subject to applicable law, may formulate a plan with respect to such matters, and, from time to time, one or more Reporting Persons may hold discussions with or make formal proposals to management or the Board of Directors of the Issuer or other third parties regarding such matters as permitted by law. Item 5(a) of the Schedule 13D is hereby supplemented as follows: The ownership percentages set forth below are based on 21,068,682 shares of Class A Common Stock outstanding as of May 1, 2026, as reported in the Issuer's Form 10-Q for the quarter ended March 31, 2026, filed on May 6, 2026, plus 19,496,034 shares of Class A Common Stock issuable upon conversion of Class B Common Stock beneficially owned by the Reporting Persons. BFI directly owns 56,152 shares of Class A Common Stock and 19,496,034 shares of Class B Common Stock as of May 22, 2026, representing 48.2% of the total number of shares of Class A Common Stock outstanding, assuming that all outstanding shares of Class B Common Stock are converted into shares of Class A Common Stock. As the Class A Manager of BFI, Mr. Bendheim may be deemed to beneficially own the 56,152 shares of Class A Common Stock and 19,496,034 shares of Class B Common Stock owned by BFI. Item 5(b) of the Schedule 13D is hereby supplemented as follows: Mr. Bendheim has the sole authority to vote all of the Common Stock of the Issuer owned by BFI and, together with certain other family members, is the manager of BFI with respect to the economic rights pertaining to such Common Stock of the Issuer owned by BFI. Item 5(c) of the Schedule 13D is hereby supplemented as follows: Since Amendment No. 24 to the Schedule 13D, filed April 23, 2026, the Reporting Persons disposed of shares of Class A Common Stock in the market transactions set forth in Exhibit 4 attached hereto. Except for the foregoing or as otherwise set forth herein, there were no transactions in securities of the Issuer beneficially owned by the Reporting Persons since Amendment No. 24 to the Schedule 13D, filed April 23, 2026. Other than the Reporting Persons, no other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Reporting Persons' securities. Not applicable. Exhibit 1 - Joint Filing Agreement, dated as of April 29, 2014, by and among the Reporting Persons (incorporated by reference to Exhibit 1 to Schedule 13D filed with the Securities and Exchange Commission by the Reporting Persons on April 29, 2014). Exhibit 4 - Transactions by the Reporting Persons. BFI Co., LLC /s/ Jack C. Bendheim 05/22/2026 Jack C. Bendheim /s/ Jack C. Bendheim 05/22/2026