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

Alphatec Holdings, Inc. CEO Patrick Miles sold 100,000 shares of common stock for a weighted average price of $18.96 per share, executed under 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 November 3, 2025.
• The shares were sold at a weighted average price of $18.96 per share.
• The sales were executed pursuant to a Rule 10b5-1 trading plan adopted on June 3, 2025.
• Individual transaction prices ranged from $17.98 to $19.47.
• Following the transaction, Mr. Miles directly beneficially owns 5,364,078 shares of common stock.
• He also indirectly owns 10,900 shares via an IRA and 250,000 shares via MOM, LLC.

Sentiment

Score: 4

Explanation: The sale of 100,000 shares by the CEO is a negative signal, but the fact that it was executed under a pre-arranged 10b5-1 plan mitigates some of the immediate concern, suggesting it was not based on new, adverse information.

Positives

• The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, which indicates the decision to sell was made in advance and not based on immediate, non-public information.

Negatives

• Insider selling by a CEO can be perceived negatively by the market, potentially signaling a lack of confidence or a desire to diversify personal holdings.
• A significant number of shares (100,000) were sold.

Risks

• Potential negative market perception due to insider selling, which could put downward pressure on the stock price.

Future Outlook

N/A. This filing reports a past insider transaction and does not provide forward-looking statements or guidance.

Management Comments

• The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on June 3, 2025.
• The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.

Industry Context

This Form 4 filing is specific to an insider transaction at Alphatec Holdings, Inc. and does not provide broader industry context or trends.

Stakeholder Impact

• Shareholders: May interpret the CEO's sale as a negative signal, potentially leading to decreased confidence or selling pressure on the stock.

Key Dates

Recommendation

While insider selling by a CEO can be a negative indicator, the transaction was conducted under a pre-arranged Rule 10b5-1 plan, which suggests the decision to sell was made well in advance and not based on recent material non-public information. This mitigates some of the immediate concern. Investors should monitor future insider activity and company performance, but this single transaction under a 10b5-1 plan does not warrant an immediate 'sell' recommendation.

Keywords

Alphatec Holdings, ATEC, Patrick Miles, CEO, Insider Trading, Form 4, Stock Sale, Rule 10b5-1, Equity Transaction, Corporate Governance