Form 4: Alphatec Holdings Director Berkowitz Receives Restricted Stock Units

Director Mortimer Berkowitz III received 16,747 restricted stock units from Alphatec Holdings, vesting upon the next annual meeting or pro-rata upon death or resignation.

Summary

• Mortimer Berkowitz III, a director of Alphatec Holdings, Inc., received 16,747 restricted stock units on June 12, 2024.
• These restricted stock units represent a contingent right to receive one share of Alphatec Holdings' common stock each.
• The units vest on the earlier of the next annual meeting of stockholders or pro-rata upon the death or resignation of Berkowitz, based on days served from grant to the event divided by 365.
• Berkowitz also indirectly owns shares through his spouse and several trusts, but disclaims beneficial ownership except to the extent of his pecuniary interest.
• As of the transaction, Berkowitz directly owns 665,419 shares and indirectly owns shares through various entities.

Sentiment

Score: 7

Explanation: The document is a routine SEC filing related to director compensation. It's generally neutral, indicating standard corporate governance practices.

Positives

• The grant of restricted stock units aligns the director's interests with those of the shareholders.
• The pro-rata vesting upon death or resignation provides some flexibility and fairness.

Future Outlook

The vesting of the restricted stock units is contingent upon future events (annual meeting, death, or resignation), indicating a continued relationship between the director and the company.

Industry Context

This type of equity compensation is common for directors and executives in publicly traded companies to incentivize performance and align interests with shareholders. The vesting schedule is typical.

Comparison to Industry Standards

• Equity compensation for board members is a standard practice across the industry.
• Companies like Medtronic, Stryker, and Johnson & Johnson also use restricted stock units as part of their director compensation packages.
• The vesting schedules are generally similar, often tied to continued service or company performance metrics.

Stakeholder Impact

• Shareholders may view the grant of restricted stock units positively as it aligns the director's interests with the company's long-term success.

Key Dates