Other than the gun at his back, none whatsoever...
Sheesh.
The life boat was tied to the warship and the pirate captain was in negotiations with the navy. I would think that risk to Phillips at that point in time was minimal. What did happen at that time was the three pirates (not the ripest mangoes on the tree)stuck their heads up at the same time presenting the perfect target of opportunity. Had there only been one or two pirates visible at that time the shots would not have been taken.