<SEC-DOCUMENT>0001104659-22-127872.txt : 20221216
<SEC-HEADER>0001104659-22-127872.hdr.sgml : 20221216
<ACCEPTANCE-DATETIME>20221216163102
ACCESSION NUMBER:		0001104659-22-127872
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20221216
DATE AS OF CHANGE:		20221216
GROUP MEMBERS:		JACK C. BENDHEIM

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PHIBRO ANIMAL HEALTH CORP
		CENTRAL INDEX KEY:			0001069899
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				131840497
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		SC 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-88114
		FILM NUMBER:		221468367

	BUSINESS ADDRESS:	
		STREET 1:		GLENPOINTE CENTRE EAST, 3RD FLOOR
		STREET 2:		300 FRANK W. BURR BLVD., SUITE 21
		CITY:			TEANECK
		STATE:			NJ
		ZIP:			07666
		BUSINESS PHONE:		201-329-7300

	MAIL ADDRESS:	
		STREET 1:		GLENPOINTE CENTRE EAST, 3RD FLOOR
		STREET 2:		300 FRANK W. BURR BLVD., SUITE 21
		CITY:			TEANECK
		STATE:			NJ
		ZIP:			07666

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PHILIPP BROTHERS CHEMICALS INC
		DATE OF NAME CHANGE:	19980908

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BFI Co., LLC
		CENTRAL INDEX KEY:			0001601607
		IRS NUMBER:				262105186
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		300 FRANK W. BURR BLVD., STE 21
		CITY:			TEANECK
		STATE:			NJ
		ZIP:			07666
		BUSINESS PHONE:		2013297300

	MAIL ADDRESS:	
		STREET 1:		300 FRANK W. BURR BLVD., STE 21
		CITY:			TEANECK
		STATE:			NJ
		ZIP:			07666
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>tm2232910d1_sc13da.htm
<DESCRIPTION>SC 13D/A
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 13D/A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Under the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Amendment No. 18)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Phibro Animal Health Corporation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name of Issuer)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Class A Common Stock, par value $0.0001 per
share</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Title of Class of Securities)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>71742Q 106</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(CUSIP Number)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>c/o Jack C. Bendheim</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Phibro Animal Health Corporation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Glenpointe Centre East, 3rd Fl.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>300 Frank W. Burr Blvd., Ste 21</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Teaneck, NJ 07666-6712</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(201) 329-7300</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name, Address and Telephone Number of Person</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Authorized to Receive Notices and Communications)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>December 13, 2022</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Date of Event which Requires Filing of this Statement)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">If the filing person has
previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule
because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box. <FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B>Note: </B>Schedules filed
in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties
to whom copies are to be sent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">*The remainder of this cover
page shall be filled out for a reporting person&rsquo;s initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The information required
on the remainder of this cover page shall not be deemed to be &ldquo;filed&rdquo; for the purpose of Section 18 of the Securities Exchange
Act of 1934 (&ldquo;Act&rdquo;) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions
of the Act (however, see the Notes).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border: Black 1pt solid; width: 29%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">CUSIP No. &nbsp;71742Q 106</FONT></TD><TD STYLE="border-right: Black 1pt solid; width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-top: Black 1pt solid; width: 21%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="padding: 3pt; border-top: Black 1.5pt double; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1.5pt double; text-align: center"><FONT STYLE="font-size: 10pt"><B>1</B></FONT></TD>
    <TD COLSPAN="5" STYLE="padding: 3pt; border-top: Black 1.5pt double; border-right: Black 1.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NAMES OF REPORTING PERSONS</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="padding: 3pt; border-right: Black 1.5pt double; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>BFI Co., LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="3" STYLE="padding: 3pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1.5pt double; text-align: center"><FONT STYLE="font-size: 10pt"><B>2</B></FONT></TD>
    <TD COLSPAN="5" STYLE="padding: 3pt; border-right: Black 1.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding: 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 3pt; border-right: Black 1.5pt double">&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding: 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1.5pt double; padding: 3pt">&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: #CCCCCC">
    <TD STYLE="padding: 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1.5pt double; text-align: center"><FONT STYLE="font-size: 10pt"><B>3</B></FONT></TD>
    <TD COLSPAN="5" STYLE="padding: 3pt; border-top: black 1pt solid; border-right: Black 1.5pt double; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SEC USE ONLY</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="padding: 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1.5pt double; text-align: center"><FONT STYLE="font-size: 10pt"><B>4</B></FONT></TD>
    <TD COLSPAN="5" STYLE="padding: 3pt; border-right: Black 1.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SOURCE OF FUNDS (see instructions)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="padding: 3pt; border-right: Black 1.5pt double; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt"><B>OO</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 3pt; vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1.5pt double; text-align: center"><FONT STYLE="font-size: 10pt"><B>5</B></FONT></TD>
    <TD COLSPAN="3" STYLE="padding: 3pt; vertical-align: top; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 3pt; border-right: Black 1.5pt double; border-bottom: black 1pt solid"><FONT STYLE="font-family: Wingdings">&#168;</FONT>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="padding: 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1.5pt double; text-align: center"><FONT STYLE="font-size: 10pt"><B>6</B></FONT></TD>
    <TD COLSPAN="5" STYLE="padding: 3pt; border-right: Black 1.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CITIZENSHIP OR PLACE OF ORGANIZATION</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="padding: 3pt; border-right: Black 1.5pt double; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Delaware</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" ROWSPAN="8" STYLE="padding: 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1.5pt double; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NUMBER OF<BR>
SHARES<BR>
BENEFICIALLY<BR>
OWNED BY<BR>
EACH<BR>
REPORTING<BR>
PERSON WITH</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="padding: 3pt; vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>7</B></FONT></TD>
    <TD COLSPAN="3" STYLE="padding: 3pt; vertical-align: top; border-right: Black 1.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SOLE VOTING POWER</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding: 3pt; border-right: Black 1.5pt double; border-bottom: black 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="padding: 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>8</B></FONT></TD>
    <TD COLSPAN="3" STYLE="padding: 3pt; border-right: Black 1.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SHARED VOTING POWER</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding: 3pt; border-right: Black 1.5pt double; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt"><B>20,225,514<SUP>(1)</SUP></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="padding: 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>9</B></FONT></TD>
    <TD COLSPAN="3" STYLE="padding: 3pt; border-right: Black 1.5pt double"><FONT STYLE="font-size: 10pt">SOLE DISPOSITIVE POWER</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding: 3pt; border-right: Black 1.5pt double; border-bottom: black 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="padding: 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>10</B></FONT></TD>
    <TD COLSPAN="3" STYLE="padding: 3pt; border-right: Black 1.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SHARED DISPOSITIVE POWER</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding: 3pt; border-right: Black 1.5pt double; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt"><B>20,225,514<SUP>(1)</SUP></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="padding: 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1.5pt double; text-align: center"><FONT STYLE="font-size: 10pt"><B>11</B></FONT></TD>
    <TD COLSPAN="5" STYLE="padding: 3pt; border-right: Black 1.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="padding: 3pt; border-right: Black 1.5pt double; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt"><B>20,225,514<SUP>(1)</SUP></B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 3pt; vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1.5pt double; text-align: center"><FONT STYLE="font-size: 10pt"><B>12</B></FONT></TD>
    <TD COLSPAN="4" STYLE="padding: 3pt; vertical-align: top; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (see instructions)</FONT></TD>
    <TD STYLE="padding: 3pt; border-right: Black 1.5pt double; border-bottom: black 1pt solid"><FONT STYLE="font-family: Wingdings">&#168;</FONT>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="padding: 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1.5pt double; text-align: center"><FONT STYLE="font-size: 10pt"><B>13</B></FONT></TD>
    <TD COLSPAN="5" STYLE="padding: 3pt; border-right: Black 1.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="padding: 3pt; border-right: Black 1.5pt double; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt"><B>49.9%<SUP>(2)</SUP></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="padding: 3pt; border-right: black 1pt solid; border-bottom: Black 1.5pt double; border-left: Black 1.5pt double; text-align: center"><FONT STYLE="font-size: 10pt"><B>14</B></FONT></TD>
    <TD COLSPAN="5" STYLE="padding: 3pt; border-right: Black 1.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TYPE OF REPORTING PERSON*</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="padding: 3pt; border-right: Black 1.5pt double; border-bottom: Black 1.5pt double"><FONT STYLE="font-size: 10pt"><B>HC</B></FONT></TD></TR>
  <TR STYLE="font-size: 1pt">
    <TD STYLE="font-size: 1pt; width: 6%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 1pt; width: 15%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 1pt; width: 6%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 1pt; width: 61%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 1pt; width: 1%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 1pt; width: 11%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.6pt"></TD><TD STYLE="width: 17.7pt">(1)</TD><TD>The Reporting Person holds 59,480 shares of Class A Common Stock, par value $0.0001 per share (&ldquo;Class A Common Stock&rdquo;),
and 20,166,034 shares of Class B Common Stock, par value $0.0001 per share (&ldquo;Class B Common Stock&rdquo;) as of December 13, 2022.
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.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.6pt"></TD><TD STYLE="width: 17.7pt">(2)</TD><TD>See Item 5.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="border: Black 1pt solid; width: 29%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">CUSIP No. &nbsp;71742Q 106</FONT></TD><TD STYLE="border-right: Black 1pt solid; width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-top: Black 1pt solid; width: 21%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="padding: 3pt; border-top: Black 1.5pt double; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1.5pt double; text-align: center"><FONT STYLE="font-size: 10pt"><B>1</B></FONT></TD>
    <TD COLSPAN="5" STYLE="padding: 3pt; border-top: Black 1.5pt double; border-right: Black 1.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NAMES OF REPORTING PERSONS</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="padding: 3pt; border-right: Black 1.5pt double; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Jack C. Bendheim</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="3" STYLE="padding: 3pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1.5pt double; text-align: center"><FONT STYLE="font-size: 10pt"><B>2</B></FONT></TD>
    <TD COLSPAN="5" STYLE="padding: 3pt; border-right: Black 1.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding: 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 3pt; border-right: Black 1.5pt double"><FONT STYLE="font-family: Wingdings">&#168;</FONT>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding: 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1.5pt double; padding: 3pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: #CCCCCC">
    <TD STYLE="padding: 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1.5pt double; text-align: center"><FONT STYLE="font-size: 10pt"><B>3</B></FONT></TD>
    <TD COLSPAN="5" STYLE="padding: 3pt; border-top: black 1pt solid; border-right: Black 1.5pt double; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SEC USE ONLY</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="padding: 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1.5pt double; text-align: center"><FONT STYLE="font-size: 10pt"><B>4</B></FONT></TD>
    <TD COLSPAN="5" STYLE="padding: 3pt; border-right: Black 1.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SOURCE OF FUNDS (see instructions)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="padding: 3pt; border-right: Black 1.5pt double; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt"><B>OO</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 3pt; vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1.5pt double; text-align: center"><FONT STYLE="font-size: 10pt"><B>5</B></FONT></TD>
    <TD COLSPAN="3" STYLE="padding: 3pt; vertical-align: top; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 3pt; border-right: Black 1.5pt double; border-bottom: black 1pt solid"><FONT STYLE="font-family: Wingdings">&#168;</FONT>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="padding: 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1.5pt double; text-align: center"><FONT STYLE="font-size: 10pt"><B>6</B></FONT></TD>
    <TD COLSPAN="5" STYLE="padding: 3pt; border-right: Black 1.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CITIZENSHIP OR PLACE OF ORGANIZATION</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="padding: 3pt; border-right: Black 1.5pt double; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt"><B>United States of America</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" ROWSPAN="8" STYLE="padding: 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1.5pt double; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NUMBER OF<BR>
SHARES<BR>
BENEFICIALLY<BR>
OWNED BY<BR>
EACH<BR>
REPORTING<BR>
PERSON WITH</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="padding: 3pt; vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>7</B></FONT></TD>
    <TD COLSPAN="3" STYLE="padding: 3pt; vertical-align: top; border-right: Black 1.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SOLE VOTING POWER</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding: 3pt; border-right: Black 1.5pt double; border-bottom: black 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="padding: 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>8</B></FONT></TD>
    <TD COLSPAN="3" STYLE="padding: 3pt; border-right: Black 1.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SHARED VOTING POWER</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding: 3pt; border-right: Black 1.5pt double; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt"><B>20,225,514<SUP>(1)</SUP></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="padding: 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>9</B></FONT></TD>
    <TD COLSPAN="3" STYLE="padding: 3pt; border-right: Black 1.5pt double"><FONT STYLE="font-size: 10pt">SOLE DISPOSITIVE POWER</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding: 3pt; border-right: Black 1.5pt double; border-bottom: black 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="padding: 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>10</B></FONT></TD>
    <TD COLSPAN="3" STYLE="padding: 3pt; border-right: Black 1.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SHARED DISPOSITIVE POWER</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding: 3pt; border-right: Black 1.5pt double; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt"><B>20,225,514<SUP>(1)</SUP></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="padding: 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1.5pt double; text-align: center"><FONT STYLE="font-size: 10pt"><B>11</B></FONT></TD>
    <TD COLSPAN="5" STYLE="padding: 3pt; border-right: Black 1.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="padding: 3pt; border-right: Black 1.5pt double; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt"><B>20,225,514<SUP>(1)</SUP></B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 3pt; vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1.5pt double; text-align: center"><FONT STYLE="font-size: 10pt"><B>12</B></FONT></TD>
    <TD COLSPAN="4" STYLE="padding: 3pt; vertical-align: top; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (see instructions)</FONT></TD>
    <TD STYLE="padding: 3pt; border-right: Black 1.5pt double; border-bottom: black 1pt solid"><FONT STYLE="font-family: Wingdings">&#168;</FONT>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="padding: 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1.5pt double; text-align: center"><FONT STYLE="font-size: 10pt"><B>13</B></FONT></TD>
    <TD COLSPAN="5" STYLE="padding: 3pt; border-right: Black 1.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="padding: 3pt; border-right: Black 1.5pt double; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt"><B>49.9%<SUP>(2)</SUP></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="padding: 3pt; border-right: black 1pt solid; border-bottom: Black 1.5pt double; border-left: Black 1.5pt double; text-align: center"><FONT STYLE="font-size: 10pt"><B>14</B></FONT></TD>
    <TD COLSPAN="5" STYLE="padding: 3pt; border-right: Black 1.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TYPE OF REPORTING PERSON*</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="padding: 3pt; border-right: Black 1.5pt double; border-bottom: Black 1.5pt double"><FONT STYLE="font-size: 10pt"><B>HC</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 6%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 15%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 6%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 61%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 11%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.3pt">(1)</TD><TD>The securities are directly held by BFI Co., LLC. Mr. Bendheim exercises voting and dispositive power over BFI Co., LLC and may be
deemed to have shared voting and investment power over the securities held by BFI Co., LLC. Mr. Bendheim may be deemed to be the beneficial
owner of 59,480 shares of Class A Common Stock and 20,166,034 shares of Class B Common Stock as of December 13, 2022. 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. Mr. Bendheim disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.3pt">(2)</TD><TD>See Item 5.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 1. Security and Issuer</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Item 1 of the Schedule 13D (defined below) is hereby
supplemented as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This Amendment No. 18 to Schedule 13D (this &ldquo;Amendment&rdquo;)
relates to the Class A Common Stock of Phibro Animal Health Corporation, a Delaware corporation (the &ldquo;Issuer&rdquo;) beneficially
owned by the Reporting Persons. This Amendment is being filed by each of the Reporting Persons to amend the Schedule 13D (the &ldquo;Schedule
13D&rdquo;) 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 and that certain Amendment No. 17 to Schedule 13D filed May
25, 2022. 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 4. Purpose of Transaction</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Item 4 of the Schedule 13D is hereby supplemented
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On December 13, 2022, BFI Co., LLC (&ldquo;BFI&rdquo;)
entered into a Rule 10b5-1 sales plan (the &ldquo;Sales Plan&rdquo;) with Goldman, Sachs &amp; Co. LLC (&ldquo;Broker&rdquo;) pursuant
to which Broker is authorized and directed to sell on behalf of BFI up to 528,000 shares of Class A Common Stock through August 30, 2023,
subject to satisfaction of certain conditions, including among others, minimum sale price and limit 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 December 13, 2022 and shall terminate on the earliest of (a) August 30,
2023, (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&rsquo;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 March 8, 2023. As of December 13, 2022, if all shares covered by the Sales Plan are sold,
BFI will continue to hold 59,480 shares of Class A Common Stock and 19,638,034 shares of Class B Common Stock, which are exchangeable
for 19,638,034 shares of Class A Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 5. Interest in Securities of the Issuer</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Item 5 of the Schedule 13D is hereby amended and
supplemented as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The ownership percentages set forth below are based
on 20,337,574 shares of Class A Common Stock and 20,166,034 shares of Class B Common Stock outstanding as of November 4, 2022, as reported
in the Issuer&rsquo;s Form 10-Q for the quarter ended September 30, 2022, filed on November 9, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BFI
directly owns 59,480 shares of Class A Common Stock and 20,166,034 shares of Class B Common Stock as of December 13, 2022, representing
49.9% 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, Jack C. Bendheim may be deemed to beneficially own the
59,480 shares of Class A Common Stock and 20,166,034 shares of Class B Common Stock owned by BFI. Mr. Bendheim disclaims beneficial ownership
of these securities except to the extent of his pecuniary interest therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jack
C. 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There
were no transactions in securities of the Issuer beneficially owned by the Reporting Persons in the last sixty days.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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&rsquo; securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(e) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not
applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURE</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">After reasonable inquiry and to the best of my
knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">December 16, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid">/s/ Jack C. Bendheim</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">Jack C. Bendheim</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><B>BFI CO., LLC</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Jack C. Bendheim</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 5%">Name:</TD>
    <TD STYLE="width: 42%">Jack C. Bendheim</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Class A Manager</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in"></P>


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