[Form 4] Alignment Healthcare, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Alignment Healthcare insider sale by CEO John E. Kao. The Form 4 discloses that Mr. Kao, who is both a director and the Chief Executive Officer, sold 180,000 shares of Alignment Healthcare common stock on 08/11/2025 pursuant to a Rule 10b5-1 plan adopted on 03/12/2025. The filing reports a weighted-average sale price of $14.5991 with prices in the range $14.42 to $14.80. Following the reported transactions, the filing shows 1,373,100 shares beneficially owned indirectly through the JEK Trust. The form also includes an entry listing 4,888,586 shares marked as disposed with no transaction date shown.

Positive

• Sale executed under a Rule 10b5-1 plan, which documents an affirmative defense and reduces potential insider-timing concerns.
• Weighted-average price and range disclosed ($14.5991; $14.42–$14.80), providing clear pricing transparency for the reported sale.
• Significant indirect ownership retained via the JEK Trust (1,373,100 shares), indicating continued stakeholder alignment.

Negative

• CEO and director sold 180,000 shares, which may be viewed negatively by some investors depending on context.
• Ambiguous line showing 4,888,586 shares disposed with no transaction date in the filing, reducing disclosure clarity and requiring clarification.

Insights

Financial Analyst

TL;DR: CEO sold 180,000 shares under a 10b5-1 plan; weighted-average price ~$14.60; materiality appears limited from this filing alone.

The sale of 180,000 shares at a weighted-average price of $14.5991 is clearly disclosed and executed under a pre-established Rule 10b5-1 plan, which typically reduces timing-related signaling risk. The filing also documents 1,373,100 shares held indirectly via the JEK Trust, preserving a meaningful ownership stake. The separate line showing 4,888,586 shares labeled as disposed lacks an associated transaction date in the filing, creating ambiguity that needs clarification before assessing broader capital-structure impact. Overall, this single Form 4 is informational and, standing alone, is not clearly material to the company’s financial outlook.

Corporate Governance Expert

TL;DR: Disclosure follows standard Form 4 practice; use of a 10b5-1 plan supports procedural compliance but ambiguous entries warrant attention.

The reporting person is both CEO and a director, increasing the governance relevance of any equity dispositions. The explicit statement that sales were made under a Rule 10b5-1 plan adopted on 03/12/2025 is a positive governance indicator because it documents an affirmative defense framework. However, the entry showing 4,888,586 shares marked as disposed without a transaction date reduces transparency and should be clarified in an amendment or supplemental disclosure. From a governance standpoint the filing is procedurally compliant but contains an unclear element that investors and compliance officers should note.

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

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

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^*

KAO JOHN E

(Last) (First) (Middle)

1100 W. TOWN & COUNTRY RD., SUITE 1600

(Street)

ORANGE CA 92868

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/11/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	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	08/11/2025		S(1)		180,000	D	$14.5991(2)	1,373,100	I	See Footnote(3)
Common Stock								4,888,586	D

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

Explanation of Responses:

1. Date of Rule 10b5-1 plan adoption: 03/12/2025

2. The reported price in column 4 is a weighted-average price. Shares were sold in multiple transactions at a per share price ranging from $14.42 to $14.80. The reporting person undertakes to provide to Alignment Healthcare, Inc., any security holder of Alignment Healthcare, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the range.

3. Represents securities held by JEK Trust, dated February 8, 2021, of which Mr. Kao is the trustee.

Remarks:

	/s/ Christopher J. Joyce, as Attorney-in-Fact, for John E. Kao	08/13/2025
	** 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.

FAQ

What did John E. Kao disclose on the Form 4 for ALHC?

The Form 4 reports that John E. Kao, CEO and director, sold 180,000 shares on 08/11/2025 under a Rule 10b5-1 plan.

At what price were the ALHC shares sold by the CEO?

The filing shows a weighted-average sale price of $14.5991, with individual sale prices in the range $14.42 to $14.80.

How many ALHC shares does John E. Kao beneficially own after the reported transactions?

The Form 4 reports 1,373,100 shares beneficially owned indirectly through the JEK Trust.

Was the sale part of a pre-arranged plan for ALHC insider trades?

Yes. The filing states the sale was made pursuant to a Rule 10b5-1 plan adopted on 03/12/2025.

Is there any unclear information in the Form 4 for ALHC?

Yes. The form includes a separate entry listing 4,888,586 shares marked as disposed (D) with no transaction date provided in the filing.