SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* Darwal Michael Joseph (Last) (First) (Middle) 1717 PENNSYLVANIA AVENUE NW SUITE 825 (Street) WASHINGTON DC 20006 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 01/01/2026	3. Issuer Name and Ticker or Trading Symbol IBEX Ltd [ IBEX ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner Officer (give title below) Other (specify below) Chief AI & Digital Officer	5. If Amendment, Date of Original Filed (Month/Day/Year) 01/27/2026
			6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Shares	6,696(1)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. To correct the holdings reported on the Reporting Person's original Form 3. The November 8, 2024 grant for 3,521 restricted stock units, with 25% vesting on July 1, 2025 and annually thereafter. Upon the July 1, 2025 vesting, 315 shares were sold for tax purposes; leaving 565 fully vested shares from this grant. The remaining shares are 490 fully vested performance stock units; 3,000 restricted stock units, with 25% vesting on September 16, 2026 and annually thereafter.

Remarks:

	Lisa Lenstrohm, Attorney-in-Fact	01/27/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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