Alignment Healthcare insider files Form 144 to sell 12,032 RSU shares

Rhea-AI Filing Summary

Form 144 notice: An insider proposes to sell 12,032 shares of common stock of the issuer through Morgan Stanley Smith Barney LLC, with an aggregate market value of $190,586.88, and an approximate sale date of 08/25/2025 on NASDAQ. The shares were acquired as restricted stock units on 02/07/2025 and paid on that date. The filing discloses prior 10b5-1 plan sales by the same person on 06/11/2025 totaling 19,399 shares for gross proceeds of $296,042.27. The filer attests there is no undisclosed material adverse information.

Positive

• Sale executed through established broker (Morgan Stanley Smith Barney), indicating proper procedural handling
• Shares were acquired as RSUs, showing the sale is of compensation-related holdings rather than a new external purchase
• Prior 10b5-1 disclosure present, suggesting trades may be pre-planned and compliant with insider-trading rules

Negative

• Insider sale of common stock (12,032 shares), which could be perceived negatively by some investors
• Recent prior sale of 19,399 shares on 06/11/2025 may indicate ongoing liquidity actions by the insider

Insights

Securities Analyst

TL;DR: Insider plans to sell a modest block of recently vested restricted stock units via a broker, following prior 10b5-1 sales.

This Form 144 indicates a proposed sale of 12,032 shares valued at $190,586.88 executed through Morgan Stanley Smith Barney, with the securities acquired as restricted stock units on 02/07/2025. The filer also sold 19,399 shares under a 10b5-1 plan on 06/11/2025 for $296,042.27. The disclosure is routine for compliance with Rule 144 and signals liquidity realization rather than an explicit corporate red flag. The presence of prior 10b5-1 activity suggests scheduled or pre-planned sales rather than opportunistic insider trades.

Corporate Governance Expert

TL;DR: The filing is a standard insider sale notice; governance implications depend on frequency and context of sales.

The submission shows shares acquired as RSUs and planned for sale on 08/25/2025, with execution via a major brokerage. The filer attests to no nonpublic material information and references 10b5-1 plan activity. From a governance perspective, repeated insider sales under 10b5-1 are common for liquidity but warrant monitoring for patterns that could concern investors if large or frequent relative to holdings. This particular filing does not itself disclose any governance breach.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 08/25/2025 - 04:37 PM Learn about SEC filing dates

FAQ

What insider sale is reported for ALHC in this Form 144?

The filing reports a proposed sale of 12,032 common shares with an aggregate market value of $190,586.88, to be sold on or about 08/25/2025 on NASDAQ.

How were the shares being sold by the ALHC insider acquired?

The shares were acquired as restricted stock units (RSUs) on 02/07/2025, with payment recorded on that date.

Did the filer make other sales recently?

Yes. The filing discloses a prior 10b5-1 sale on 06/11/2025 of 19,399 shares for gross proceeds of $296,042.27.

Through which broker will the ALHC shares be sold?

The proposed sale is to be executed through Morgan Stanley Smith Barney LLC (Executive Financial Services, New York, NY).

Does the Form 144 state whether the filer knows any undisclosed material information?

Yes. By signing the notice the person represents they do not know any material adverse information that has not been publicly disclosed.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	12032	190586.88	198031417	08/25/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	02/07/2025	Restricted Stock Units	Issuer			12032	02/07/2025	N/A

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
10b5-1 Sales for ANDREAS P WAGNER 1100 W. Town and Country Road Suite 1600 Orange CA 92868	Common	06/11/2025	19399	296042.27

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)