-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 jqX9pR5+ETIlKbb8XQtBoQ==

<SEC-DOCUMENT>0000915127-05-000043.txt : 20050922
<SEC-HEADER>0000915127-05-000043.hdr.sgml : 20050922
<ACCEPTANCE-DATETIME>20050922141737
ACCESSION NUMBER:		0000915127-05-000043
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050922
FILED AS OF DATE:		20050922
DATE AS OF CHANGE:		20050922

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PHC INC /MA/
		CENTRAL INDEX KEY:			0000915127
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-HOME HEALTH CARE SERVICES [8082]
		IRS NUMBER:				042601571
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0630

	BUSINESS ADDRESS:	
		STREET 1:		200 LAKE ST STE 102
		CITY:			PEABODY
		STATE:			MA
		ZIP:			01960
		BUSINESS PHONE:		9785362777

	MAIL ADDRESS:	
		STREET 1:		200 LAKE ST
		STREET 2:		STE 102
		CITY:			PEABODY
		STATE:			MA
		ZIP:			01960

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BOSWELL ROBERT H
		CENTRAL INDEX KEY:			0001248559

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22916
		FILM NUMBER:		051097840

	BUSINESS ADDRESS:	
		STREET 1:		PIONEER BEHAVIORAL HEALTH
		STREET 2:		200 LAKE ST.
		CITY:			PEABODY
		STATE:			MA
		ZIP:			01960
		BUSINESS PHONE:		978-536-2777

	MAIL ADDRESS:	
		STREET 1:		200 LAKE STREET
		STREET 2:		SUITE 102
		CITY:			PEABODY
		STATE:			MA
		ZIP:			01960
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rb_form4ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2005-09-22</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000915127</issuerCik>
        <issuerName>PHC INC /MA/</issuerName>
        <issuerTradingSymbol>PIHC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001248559</rptOwnerCik>
            <rptOwnerName>BOSWELL ROBERT H</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>PIONEER BEHAVIORAL HEALTH</rptOwnerStreet1>
            <rptOwnerStreet2>200 LAKE ST.</rptOwnerStreet2>
            <rptOwnerCity>PEABODY</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>01960</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Sr. Vice President</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>2.73</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2005-09-22</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>20000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2005-09-22</value>
            </exerciseDate>
            <expirationDate>
                <value>2010-09-22</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Options</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>20000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Total Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0</value>
                <footnoteId id="F1"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2005-09-22</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>0</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2005-09-22</value>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2005-09-22</value>
                <footnoteId id="F1"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>0</value>
                    <footnoteId id="F1"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>131000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">F1 No Conversion Price</footnote>
    </footnotes>

    <remarks>Shares acquired through Company's Employee Stock Purchase Plan 2003</remarks>

    <ownerSignature>
        <signatureName>Robert H. Boswell</signatureName>
        <signatureDate>2005-09-22</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----