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Alignment Healthcare (ALHC) director group reports 11.1M-share stock sale

Filing Impact
(Very High)
Filing Sentiment
(Very Negative)
Form Type
4

Rhea-AI Filing Summary

A group of reporting persons led by General Atlantic (ALN HLTH), L.P., which is identified as a director and 10% owner of Alignment Healthcare, Inc., reported a large open-market sale of the company’s common stock. On December 12, 2025, they sold 11,119,494 shares of common stock at a net price of $18.57 per share.

After this transaction, the group reports indirect beneficial ownership of 13,476,585 Alignment Healthcare shares. This includes 13,167,733 shares held directly by General Atlantic (ALN HLTH), L.P., plus additional shares and 18,710 restricted stock units for each of Nicholas Robbert Vorhoff and David C. Hodgson held for the benefit of General Atlantic Service Company, L.P. The reporting persons describe a multi-entity General Atlantic structure and state that each disclaims beneficial ownership beyond any pecuniary interest.

Positive

  • None.

Negative

  • None.

Insights

Large shareholder reports 11.1M-share sale but retains a sizable indirect stake.

A group of reporting persons associated with General Atlantic (ALN HLTH), L.P. disclosed an open-market sale of 11,119,494 shares of Alignment Healthcare common stock at a net price of $18.57 per share, settled on December 12, 2025. The transaction is coded "S," indicating a sale of common stock with par value $0.001 per share.

Following the sale, the group reports indirect beneficial ownership of 13,476,585 Alignment Healthcare shares. Footnotes explain that this includes 13,167,733 shares held directly by General Atlantic (ALN HLTH), L.P., plus additional shares and 18,710 restricted stock units for each of Nicholas Robbert Vorhoff and David C. Hodgson held for the benefit of General Atlantic Service Company, L.P.

The reporting persons are identified as directors and 10% owners of Alignment Healthcare and outline a layered ownership structure across several General Atlantic funds and entities. They also state that any “group” status under the Securities Exchange Act is not admitted and that each reporting person and each member of the relevant partnership committee disclaims beneficial ownership of securities beyond any pecuniary interest.

Insider GENERAL ATLANTIC, L.P., GENERAL ATLANTIC GENPAR, L.P., General Atlantic Partners 95, L.P., GAP COINVESTMENTS III, LLC, GAP COINVESTMENTS IV, LLC, GAP Coinvestments V, LLC, GAPCO GMBH & CO KG, GAPCO MANAGEMENT GMBH, GAP Coinvestments CDA, L.P., General Atlantic (SPV) GP, LLC
Role 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner
Sold 11,119,494 shs ($206.49M)
Type Security Shares Price Value
Sale Common Stock, par value $0.001 per share 11,119,494 $18.57 $206.49M
Holdings After Transaction: Common Stock, par value $0.001 per share — 13,476,585 shares (Indirect, See footnote)
Footnotes (1)
  1. The shares of Common Stock were sold by General Atlantic (ALN HLTH), L.P., a Delaware limited partnership ("GA ALN"), pursuant to an open market sale of 11,119,494 shares of Common Stock settled on December 12, 2025 at a net price per share of $18.57. Reflects (i) 13,167,733 shares of Common Stock held directly by GA ALN following the closing of the Transaction and (ii) 135,716 shares of Common Stock and 18,710 restricted stock units held by Nicholas Robbert Vorhoff and 135,716 shares of Common Stock and 18,710 restricted stock units held by David C. Hodgson, in each case for the benefit of General Atlantic Service Company, L.P. ("GASC"). The limited partners of GA ALN are the following investment funds (the "GA Funds"): General Atlantic Partners 95, L.P., a Delaware limited partnership ("GAP 95"), GAP Coinvestments CDA, L.P., a Delaware limited partnership ("GAPCO CDA"), GAP Coinvestments III, LLC, a Delaware limited liability company ("GAPCO III"), GAP Coinvestments IV, LLC, a Delaware limited liability company ("GAPCO IV"), GAP Coinvestments V, LLC, a Delaware limited liability company ("GAPCO V") and GAPCO GmbH & Co. KG, a German partnership ("GAPCO KG"). (Cont'd in FN3) (Cont'd from FN2) General Atlantic GenPar, L.P., a Delaware limited partnership ("GA GenPar"), is the general partner of GAP 95. General Atlantic (SPV) GP, LLC, a Delaware limited liability company ("GA SPV"), is the general partner of GA ALN. General Atlantic, L.P., a Delaware limited partnership ("GA LP") is the general partner of GA GenPar and GAPCO CDA, the managing member of GAPCO III, GAPCO IV and GAPCO V, and the sole member of GA SPV. GA LP is controlled by the Partnership Committee of GASC MGP, LLC (the "Partnership Committee"). GAPCO Management GmbH, a German company ("GAPCO Management"), is the general partner of GAPCO KG. The Partnership Committee also controls GASC as well as the investment and voting decisions of GAPCO Management. There are six members of the Partnership Committee. Each of the members of the Partnership Committee disclaims ownership of the shares except to the extent he has a pecuniary interest therein.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
X
 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
GENERAL ATLANTIC, L.P.
(Last) (First) (Middle)
C/O GENERAL ATLANTIC SERVICE CO., L.P.
55 EAST 52ND STREET, 33RD FLOOR
(Street)
NEW YORK NY 10055
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Alignment Healthcare, Inc. [ ALHC ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
12/12/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, par value $0.001 per share 12/12/2025 S(1) 11,119,494 D $18.57 13,476,585 I See footnote(2)(3)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
1. Name and Address of Reporting Person*
GENERAL ATLANTIC, L.P.
(Last) (First) (Middle)
C/O GENERAL ATLANTIC SERVICE CO., L.P.
55 EAST 52ND STREET, 33RD FLOOR
(Street)
NEW YORK NY 10055
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
GENERAL ATLANTIC GENPAR, L.P.
(Last) (First) (Middle)
55 EAST 52ND STREET, 32ND FLOOR
(Street)
NEW YORK NY 10055
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
General Atlantic Partners 95, L.P.
(Last) (First) (Middle)
C/O GENERAL ATLANTIC SERVICE CO., L.P.
55 EAST 52ND STREET, 33RD FLOOR
(Street)
NEW YORK NY 10055
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
GAP COINVESTMENTS III, LLC
(Last) (First) (Middle)
C/O GENERAL ATLANTIC SERVICE CO., L.P.
55 EAST 52ND STREET, 33RD FLOOR
(Street)
NEW YORK NY 10055
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
GAP COINVESTMENTS IV, LLC
(Last) (First) (Middle)
C/O GENERAL ATLANTIC SERVICE CO., L.P.
55 EAST 52ND STREET, 33RD FLOOR
(Street)
NEW YORK NY 10055
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
GAP Coinvestments V, LLC
(Last) (First) (Middle)
C/O GENERAL ATLANTIC SERVICE CO., L.P.
55 EAST 52ND STREET, 33RD FLOOR
(Street)
NEW YORK NY 10055
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
GAPCO GMBH & CO KG
(Last) (First) (Middle)
C/O GENERAL ATLANTIC GMBH
LUITPOLDBLOCK AMIRAPLATZ 3
(Street)
MUNCHEN 2M 80333
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
GAPCO MANAGEMENT GMBH
(Last) (First) (Middle)
C/O GENERAL ATLANTIC GMBH
LUITPOLDBLOCK AMIRAPLATZ 3
(Street)
MUNCHEN 2M 80333
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
GAP Coinvestments CDA, L.P.
(Last) (First) (Middle)
C/O GENERAL ATLANTIC SERVICE CO., L.P.
55 EAST 52ND STREET, 33RD FLOOR
(Street)
NEW YORK NY 10055
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
General Atlantic (SPV) GP, LLC
(Last) (First) (Middle)
C/O GENERAL ATLANTIC SERVICE CO., L.P.
55 EAST 52ND STREET, 33RD FLOOR
(Street)
NEW YORK NY 10055
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
Explanation of Responses:
1. The shares of Common Stock were sold by General Atlantic (ALN HLTH), L.P., a Delaware limited partnership ("GA ALN"), pursuant to an open market sale of 11,119,494 shares of Common Stock settled on December 12, 2025 at a net price per share of $18.57.
2. Reflects (i) 13,167,733 shares of Common Stock held directly by GA ALN following the closing of the Transaction and (ii) 135,716 shares of Common Stock and 18,710 restricted stock units held by Nicholas Robbert Vorhoff and 135,716 shares of Common Stock and 18,710 restricted stock units held by David C. Hodgson, in each case for the benefit of General Atlantic Service Company, L.P. ("GASC"). The limited partners of GA ALN are the following investment funds (the "GA Funds"): General Atlantic Partners 95, L.P., a Delaware limited partnership ("GAP 95"), GAP Coinvestments CDA, L.P., a Delaware limited partnership ("GAPCO CDA"), GAP Coinvestments III, LLC, a Delaware limited liability company ("GAPCO III"), GAP Coinvestments IV, LLC, a Delaware limited liability company ("GAPCO IV"), GAP Coinvestments V, LLC, a Delaware limited liability company ("GAPCO V") and GAPCO GmbH & Co. KG, a German partnership ("GAPCO KG"). (Cont'd in FN3)
3. (Cont'd from FN2) General Atlantic GenPar, L.P., a Delaware limited partnership ("GA GenPar"), is the general partner of GAP 95. General Atlantic (SPV) GP, LLC, a Delaware limited liability company ("GA SPV"), is the general partner of GA ALN. General Atlantic, L.P., a Delaware limited partnership ("GA LP") is the general partner of GA GenPar and GAPCO CDA, the managing member of GAPCO III, GAPCO IV and GAPCO V, and the sole member of GA SPV. GA LP is controlled by the Partnership Committee of GASC MGP, LLC (the "Partnership Committee"). GAPCO Management GmbH, a German company ("GAPCO Management"), is the general partner of GAPCO KG. The Partnership Committee also controls GASC as well as the investment and voting decisions of GAPCO Management. There are six members of the Partnership Committee. Each of the members of the Partnership Committee disclaims ownership of the shares except to the extent he has a pecuniary interest therein.
Remarks:
GA ALN, the GA Funds, GAPCO Management, GA GenPar, GA SPV and GA LP may be deemed to be members of a "group" for the purposes of the Securities Exchange Act of 1934. Each reporting person disclaims beneficial ownership of any securities deemed to be owned by the group that are not directly owned by the reporting person. This report shall not be deemed an admission that the reporting persons are a member of a group or the beneficial owner of any securities not directly owned by the reporting person. Each of the reporting persons is a director-by-deputization solely for purposes of Section 16 of the Exchange Act. Form 1 of 2
/s/ Michael Gosk 12/12/2025
/s/ Michael Gosk 12/12/2025
/s/ Michael Gosk 12/12/2025
/s/ Michael Gosk 12/12/2025
/s/ Michael Gosk 12/12/2025
/s/ Michael Gosk 12/12/2025
/s/ Michael Gosk 12/12/2025
/s/ Michael Gosk 12/12/2025
/s/ Michael Gosk 12/12/2025
/s/ Michael Gosk 12/12/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Alignment Healthcare (ALHC) report?

Alignment Healthcare, Inc. reported that a group of insiders led by General Atlantic (ALN HLTH), L.P. sold 11,119,494 shares of its common stock in an open-market transaction settled on December 12, 2025 at a net price of $18.57 per share.

How many Alignment Healthcare shares were sold and at what price?

The disclosure shows a sale of 11,119,494 shares of Alignment Healthcare common stock at a net price of $18.57 per share, executed as an open-market transaction on December 12, 2025.

Who executed the sale of Alignment Healthcare stock?

The shares were sold by General Atlantic (ALN HLTH), L.P. ("GA ALN"), a Delaware limited partnership, as described in the footnotes explaining that GA ALN sold the 11,119,494 shares of Alignment Healthcare common stock in an open-market transaction.

How many Alignment Healthcare shares do the reporting persons beneficially own after the sale?

After the transaction, the reporting group reports indirect beneficial ownership of 13,476,585 Alignment Healthcare shares. This includes 13,167,733 shares held directly by GA ALN plus additional shares and 18,710 restricted stock units for each of Nicholas Robbert Vorhoff and David C. Hodgson held for the benefit of General Atlantic Service Company, L.P.

What is the relationship of the reporting persons to Alignment Healthcare (ALHC)?

The reporting persons are identified as directors and 10% owners of Alignment Healthcare, Inc., and they describe themselves as directors-by-deputization solely for purposes of Section 16 of the Exchange Act.

Do the reporting persons claim full beneficial ownership of all the reported Alignment Healthcare shares?

No. The disclosure states that each reporting person and each member of the relevant partnership committee disclaims beneficial ownership of shares except to the extent of any pecuniary interest, and it notes that the report is not an admission of membership in a group or beneficial ownership of securities not directly owned.