Form 4: Alphatec CEO Sells 100,000 Shares Under 10b5-1 Plan

Alphatec Holdings CEO Patrick Miles sold 100,000 shares of common stock for approximately $1.4 million on October 1, 2025, as part of a pre-arranged Rule 10b5-1 trading plan.

Summary

• Patrick Miles, CEO and Director of Alphatec Holdings, Inc. (ATEC), reported the sale of 100,000 shares of common stock.
• The transaction occurred on October 1, 2025, at a weighted average price of $13.96 per share.
• The shares were sold in multiple transactions with prices ranging from $13.73 to $14.33.
• The total value of the shares sold was approximately $1,396,000.
• The sale was executed pursuant to a Rule 10b5-1 trading plan adopted by Mr. Miles on June 3, 2025.
• Following the transaction, Mr. Miles directly beneficially owns 5,464,078 shares of common stock.
• Additionally, Mr. Miles indirectly beneficially owns 10,900 shares via an IRA and 250,000 shares via MOM, LLC.

Sentiment

Score: 4

Explanation: The sale of a significant number of shares by the CEO, while executed under a pre-arranged 10b5-1 plan, can be perceived as a mild negative signal regarding management's view on the stock's immediate upside potential. The 10b5-1 plan mitigates, but does not entirely eliminate, potential negative sentiment.

Positives

• The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan, which enhances transparency and mitigates concerns about insider trading based on material non-public information.

Negatives

• The sale of 100,000 shares by the CEO, representing a significant transaction value of approximately $1.4 million, could be perceived as a negative signal by investors regarding management's confidence in the stock's near-term appreciation.

Risks

• Insider selling, even under a 10b5-1 plan, can sometimes lead to negative market sentiment or speculation about the company's future prospects, potentially impacting share price.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This filing reports an individual insider transaction and does not provide broader industry trends or competitive analysis.

Stakeholder Impact

• Shareholders may interpret the CEO's sale as a signal, potentially influencing their perception of the company's stock value and future prospects.

Next Steps

• The reporting person undertakes to provide full information regarding the number of shares sold at each separate price within the reported ranges upon request to the issuer, any security holder, or the SEC staff.

Key Dates

Recommendation

The CEO's sale of 100,000 shares, while significant, was conducted under a pre-arranged Rule 10b5-1 trading plan, which typically indicates personal financial planning rather than a reaction to new material non-public information. This mitigates the negative signal somewhat. Investors should monitor future insider activity and company performance, but this single transaction does not warrant a strong buy or sell recommendation without further fundamental analysis.

Keywords

Alphatec Holdings, ATEC, Patrick Miles, insider trading, Form 4, stock sale, 10b5-1 plan, CEO, director