Velarion · Company Intelligence
Compensation Brief
Fiscal year 2026 · Filings through 2026-09-18

Phibro Animal Health (PAHC)

CEO Daniel Bendheim was paid $1,120,094 in fiscal year 2026: executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$5,229,898
Jack Bendheim total, FY2026
Chairman of the Board and Executive Chairman — highest-paid officer; CEO Daniel Bendheim: $1,120,094
—
CEO (Daniel Bendheim) pay percentile vs peers
74:1
CEO-to-median pay ratio
99.45%
Say-on-pay support, latest vote

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Companies that benchmark against PAHC
1 company names PAHC as a compensation peer

Each company listed discloses PAHC in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named PAHC in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2026

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Jack Bendheim$2,442,600$0$424,255$0$1,587,690$117,108$658,245$5,229,898
Chairman of the Board and Executive Chairman
Larry Miller751,8491,062,500130,6020488,70112,84454,1232,500,619
Chief Operating Officer
Glenn David702,7680122,0600456,800052,0941,333,722
Chief Financial Officer
Daniel Bendheim575,000099,8660373,75015,66355,8151,120,094
President and Chief Executive Officer
Judith Weinstein500,000086,8410325,0007,98855,357975,186
Senior Vice President, General Counsel and Corporate Secretary

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2026 totalFY2025 totalFY2024 totalΔ FY2025→2026
Jack Bendheim$5,229,898$5,284,122—−54,224
Larry Miller2,500,6192,429,5383,418,556+71,081
Glenn David1,333,7221,273,9472,395,796+59,775
Daniel Bendheim1,120,0941,119,780763,243+314
Judith Weinstein975,1861,043,927—−68,741

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

04

Outstanding equity awards at fiscal year-end 2026

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Glenn DavidRSU4,845—$152,133
BendheimRSU16,840—528,776
Larry MillerRSU5,184—162,778
Judith WeinsteinRSU3,447—108,236
Glenn DavidPSU150,000—4,710,000
Larry MillerPSU300,000—9,420,000
Glenn DavidRSU90,000—2,826,000
BendheimRSU3,964—124,470
05

Incentive-plan design — the Compensation Discussion & Analysis

The Company's executive compensation program is designed to attract and retain highly motivated talent with a performance-driven mindset, ensuring market-competitive pay. A material portion of target compensation is at-risk and directly aligned with Company performance to promote stockholder value creation and align executive interests with those of stockholders.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantFW Cook
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingfalse
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20252025-11-04213,516,4031,184,15420,49599.45%Passed
20222022-11-07218,928,908725,200203,16799.67%Passed
20192019-11-04215,621,074773,954122,38899.64%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20252025-11-0499.45%a
20222022-11-0799.67%b
20192019-11-0499.64%c

a. Voting standard not stated in the filing.

b. Voting standard not stated in the filing.

c. Voting standard not stated in the filing.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)74 : 1
CEO total compensation—
Median employee compensation$71,100
08

Director compensation — fiscal year 2026

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Sam GejdensonIndependent · Audit · Compensation (Chair)$80,000————$80,000
Carol A. WrennIndependent · Audit · Compensation80,000————80,000
E. Thomas CorcoranIndependent · Audit (Chair)70,000————70,000
Alejandro BernalIndependent · Compensation70,000————70,000
Mary Lou MalanoskiIndependent60,000————60,000
Joyce J. LeeIndependent · Departed during FY60,000————60,000
Jack C. BendheimEmployee director · Board Chair—————0
Daniel M. BendheimEmployee director—————0
09

Board fee structure and ownership guideline

Annual cash retainer$60,000
Annual equity retainer—
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)—
Stock ownership guideline—
09b

Total cost of the board

ComponentFY2026
Cash retainers and fees$420,000
Equity awards (grant-date value)$0
All other compensation$0
Total cost of the board$420,000

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Phibro Animal Health2026Daniel Bendheim$575,000$99,866$0$373,750$1,120,094

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

FAQ

Frequently asked questions

Who was the highest-paid executive at Phibro Animal Health in fiscal 2026?
As disclosed, Jack Bendheim, Chairman of the Board and Executive Chairman, was the highest-paid executive with total compensation of $5,229,898.
How does Phibro Animal Health's chief executive pay compare to its disclosed peer group?
The filing shows that the CEO pay percentile of disclosed peers is not disclosed in this filing.
What is Phibro Animal Health's CEO-to-median employee pay ratio?
As disclosed, the CEO-to-median employee pay ratio was 74:1.
How did shareholders vote on Phibro Animal Health's executive compensation?
The filing shows that shareholder support for the latest say-on-pay vote was 99.45%.
How much does Phibro Animal Health spend in total on board compensation for fiscal 2026?
As disclosed, total board compensation for fiscal 2026 was $420,000.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Jack BendheimDEF 14A2026-09-180001104659-26-108939Section “2026 Summary Compensation Table” · page 30. As printed: 5,229,898. Filing ↗machine: span 547778–547787
2Section 01, Larry MillerDEF 14A2026-09-180001104659-26-108939Section “2026 Summary Compensation Table” · page 30. As printed: 2,500,619. Filing ↗machine: span 599280–599289
3Section 01, Glenn DavidDEF 14A2026-09-180001104659-26-108939Section “2026 Summary Compensation Table” · page 30. As printed: 1,333,722. Filing ↗machine: span 582351–582360
4Section 01, Daniel BendheimDEF 14A2026-09-180001104659-26-108939Section “2026 Summary Compensation Table” · page 30. As printed: 1,120,094. Filing ↗
5Section 01, Judith WeinsteinDEF 14A2026-09-180001104659-26-108939Section “2026 Summary Compensation Table” · page 30. As printed: 975,186. Filing ↗machine: span 616628–616635
6Section 07, pay ratioDEF 14A2026-09-180001104659-26-108939Section “CEO Pay Ratio”. As printed: 74 : 1. Filing ↗machine: span 1154687–1154689
7Section 08, Sam GejdensonDEF 14A2026-09-180001104659-26-108939Section “Director Compensation”. As printed: 80,000. Filing ↗machine: span 271793–271963
8Section 08, Carol A. WrennDEF 14A2026-09-180001104659-26-108939Section “Director Compensation”. As printed: 80,000. Filing ↗machine: span 276992–277162
9Section 08, E. Thomas CorcoranDEF 14A2026-09-180001104659-26-108939Section “Director Compensation”. As printed: 70,000. Filing ↗machine: span 270028–270198
10Section 08, Alejandro BernalDEF 14A2026-09-180001104659-26-108939Section “Director Compensation”. As printed: 70,000. Filing ↗machine: span 268391–268561
11Section 08, Mary Lou MalanoskiDEF 14A2026-09-180001104659-26-108939Section “Director Compensation”. As printed: 60,000. Filing ↗machine: span 275359–275529
12Section 08, Joyce J. LeeDEF 14A2026-09-180001104659-26-108939Section “Director Compensation”. As printed: 60,000. Filing ↗machine: span 273589–273759
13Section 08, Jack C. BendheimDEF 14A2026-09-180001104659-26-108939Section “Director Compensation”. As printed: 0. Filing ↗
14Section 08, Daniel M. BendheimDEF 14A2026-09-180001104659-26-108939Section “Director Compensation”. As printed: 0. Filing ↗
15Section 06, 2025 voteForm 8-K2025-11-050001104659-25-107064Item 5.07 · say-on-pay result. As reported: 99.45% (votes for as printed: 213,516,403). Filing ↗
16Section 06, 2022 voteForm 8-K2022-11-080001104659-22-115975Item 5.07 · say-on-pay result. As reported: 99.67% (votes for as printed: 218,928,908). Filing ↗
17Section 06, 2019 voteForm 8-K2019-11-050001104659-19-060110Item 5.07 · say-on-pay result. As reported: 99.64% (votes for as printed: 215,621,074). Filing ↗
18Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
19Section 09b board cost (computed)Computed——Cash 420,000 + equity 0 + all other 0 = 420,000, summed across the director compensation table rows.machine: formula: Σ = 420,000
20Phibro Animal Health (subject), Section 10b CEO totalDEF 14A2026-09-180001104659-26-108939CEO total compensation as printed in Phibro Animal Health's own proxy. As printed: 1,120,094. Filing ↗

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