Form 4: Alphatec Holdings CFO Koning Receives Stock Units in Lieu of Salary

John Todd Koning, CFO of Alphatec Holdings, received 20,929 restricted stock units (RSUs) on April 1, 2025, as part of an employee salary conversion plan.

Summary

• On April 1, 2025, Alphatec Holdings CFO John Todd Koning was granted 20,929 restricted stock units (RSUs).
• These RSUs are part of an employee salary conversion plan adopted by the Compensation Committee on March 31, 2025.
• Koning is receiving these RSUs in place of a portion of his cash salary for the period between March 31, 2025, and December 21, 2025.
• Each RSU represents the right to receive one share of Alphatec Holdings' common stock, contingent on stockholder approval of an amendment to the 2016 Equity Incentive Plan.
• The RSUs will vest in two equal installments on August 5, 2025, and December 5, 2025.
• The salary to RSU conversion price is based on the closing price of Alphatec's common stock on March 31, 2025.
• Following the transaction, Koning beneficially owns 504,036 shares of common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine filing related to executive compensation. The RSU grant is a positive for aligning management with shareholders, but the need for shareholder approval introduces a slight uncertainty.

Positives

• The employee salary conversion plan may help Alphatec Holdings conserve cash by issuing RSUs instead of salary.
• The plan aligns the CFO's interests with those of the shareholders, as his compensation is tied to the company's stock performance.

Negatives

• The issuance of RSUs is contingent on stockholder approval of an amendment to the issuer's 2016 Equity Incentive Plan to authorize sufficient additional shares for issuance.

Risks

• Stockholder approval of the amendment to the 2016 Equity Incentive Plan is required for the RSUs to be fully granted.
• The value of the RSUs is subject to the volatility of Alphatec Holdings' stock price.

Future Outlook

The document does not contain specific forward-looking statements beyond the vesting schedule of the RSUs and the need for stockholder approval of an amendment to the equity incentive plan.

Industry Context

The use of stock-based compensation is common in the industry to attract and retain talent, especially in growth-oriented companies. This aligns management's interests with those of shareholders.

Stakeholder Impact

• Shareholders: Potential dilution if the equity incentive plan is amended and more shares are issued.
• Employees: The salary conversion plan may impact employee cash flow in exchange for potential stock appreciation.

Next Steps

• Stockholder approval of an amendment to the issuer's 2016 Equity Incentive Plan.
• Vesting of the RSUs on August 5, 2025, and December 5, 2025.

Key Dates

Keywords

Alphatec Holdings, ATEC, John Todd Koning, CFO, Restricted Stock Units, RSUs, Salary Conversion Plan, Equity Incentive Plan, Beneficial Ownership, Form 4