Form 4: Alphatec Director Sells Over $5.2M in Company Stock

Alphatec Holdings, Inc. Director and 10% owner David R. Pelizzon reported the sale of 250,000 shares of common stock totaling approximately $5.2 million.

Summary

• David R. Pelizzon, a Director and 10% Owner of Alphatec Holdings, Inc. (ATEC), reported sales of common stock.
• On December 8, 2025, 221,166 shares were sold at a weighted average price of $21.2 per share, totaling approximately $4,688,699.20.
• On December 9, 2025, an additional 28,834 shares were sold at a weighted average price of $21.03 per share, totaling approximately $606,399.02.
• The total number of shares sold across both transactions is 250,000.
• The total value of shares sold is approximately $5,295,098.22.
• Following these transactions, 10,645,045 shares of common stock are beneficially owned indirectly by Squadron Capital LLC.
• Pelizzon disclaims beneficial ownership of these shares except to the extent of his pecuniary interest.
• The transactions were made pursuant to a Rule 10b5-1 plan, indicating a pre-scheduled sale.

Sentiment

Score: 4

Explanation: The sale of a significant number of shares by a director and 10% owner is generally perceived as a negative signal. However, the fact that it was executed under a Rule 10b5-1 plan suggests it was a pre-scheduled event for personal financial planning rather than a reaction to adverse company news, which somewhat mitigates the negative sentiment.

Positives

• The sales were conducted under a Rule 10b5-1 plan, indicating a pre-scheduled transaction for personal financial planning rather than a reaction to recent company performance or news.

Negatives

• A Director and 10% owner selling a significant number of shares (250,000 shares) can be perceived negatively by the market, potentially signaling a lack of confidence or a belief that the stock is fully valued.
• The total value of shares sold is approximately $5.295 million.

Risks

• Significant insider selling, even if pre-planned, can sometimes lead to negative market sentiment and potential downward pressure on the stock price.
• Investors might interpret the sales as a signal that the insider believes the company's stock price may not appreciate significantly in the near future.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• The shares are held indirectly by Squadron Capital LLC, where the reporting person, David R. Pelizzon, is one of two members of the Managing Committee. This establishes a related party relationship for the beneficial ownership.

Stakeholder Impact

• Shareholders may interpret the insider selling as a lack of confidence, potentially leading to negative sentiment and downward pressure on the stock price.
• Potential impact on investor confidence in the company's near-term growth prospects.

Key Dates

Recommendation

While significant insider selling can be a bearish signal, the disclosure that the transactions were made pursuant to a Rule 10b5-1 plan suggests a pre-arranged sale for personal financial management rather than a reaction to new negative information. Investors should monitor future insider activity and company performance, but this single event, given the 10b5-1 context, might not warrant an immediate 'sell' recommendation. A 'hold' position allows for further observation.

Keywords

Alphatec Holdings, ATEC, Insider Sale, Form 4, David R. Pelizzon, Squadron Capital, Stock Transaction, Director, 10% Owner, Rule 10b5-1