[Form 4] Astrana Health, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Astrana Health (ASTH) Executive Chairman and Director Kenneth T. Sim reported an insider transaction. On 11/10/2025, he exercised stock options at $17.78 to acquire 29,502 shares of common stock (transaction code M), bringing his direct holdings to 639,407 shares. He also reports indirect holdings, including 6,132,802 shares by Allied Physicians of California, 546,349 by the Kenneth T & Simone S Sim Family Trust, 42,996 by the Kenneth T. Sim Pension Plan Trust, and 230,688 by a grantor retained annuity trust. Unvested restricted stock included in his holdings comprises 117,501 shares vesting in three equal annual installments beginning on March 5, 2026, and 133,333 shares vesting upon achievement of pre-established performance goals.

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
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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).

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^*

Sim Kenneth T.

(Last) (First) (Middle)

C/O ASTRANA HEALTH, INC.

1668 S. GARFIELD AVENUE, 2ND FLOOR

(Street)

ALHAMBRA CA 91801

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Astrana Health, Inc. [ ASTH ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

3. Date of Earliest Transaction (Month/Day/Year)
11/10/2025

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	11/10/2025		M		29,502	A	$17.78	639,407(6)	D
Common Stock								6,132,802	I	By Allied Physicians of California, a Professional Medical Corporation(1)
Common Stock								546,349	I	By Kenneth T & Simone S Sim Family Trust(4)
Common Stock								42,996	I	By Kenneth T. Sim Pension Plan Trust(2)
Common Stock								230,688	I	By grantor retained annuity trust(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
Stock Option (right to buy)	$17.78	11/10/2025		M			29,502	(5)	12/10/2025	Common Stock	29,502	$0	0	D

Explanation of Responses:

1. These securities are beneficially owned by Allied Physicians of California, a Professional Medical Corporation, of which the Reporting Person is the Chairman and a director and stockholder. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the filing of this report is not an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

2. These securities are held by the Kenneth T. Sim Pension Plan Trust U.A. dated 12/18/2007. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the filing of this report is not an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

3. These securities are held by a grantor retained annuity trust for the benefit of the Reporting Person and his children. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.

4. These securities are held by the Kenneth T & Simone S Sim Family Trust U/A dated 11/07/2013. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the filing of this report is not an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

5. These stock options were fully vested and exercisable.

6. Includes the following shares of unvested restricted stock, which will vest as follows (in each case subject to continuous employment with the Issuer): (i) 117,501 shares, which will vest in three equal annual installments beginning on March 5, 2026; and (ii) 133,333 shares, which will vest upon achievement of certain pre-established performance goals.

	/s/ Kathy Diep, as Attorney-in-Fact	11/13/2025
	** 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 Astrana Health (ASTH) report in this Form 4?

Executive Chairman Kenneth T. Sim exercised stock options on 11/10/2025 to acquire 29,502 shares at $17.78, increasing his direct holdings to 639,407 shares.

What is Kenneth T. Sim’s direct ownership in ASTH after the transaction?

His direct ownership is 639,407 shares following the reported transaction.

What option terms were involved in the ASTH insider transaction?

A stock option with an exercise price of $17.78 for 29,502 underlying shares was exercised on 11/10/2025 (code M).

What indirect ASTH holdings are reported for Kenneth T. Sim?

Indirect holdings include 6,132,802 shares by Allied Physicians of California, 546,349 by the Family Trust, 42,996 by the Pension Plan Trust, and 230,688 by a grantor retained annuity trust.

Are any unvested restricted shares disclosed for ASTH?

Yes. 117,501 shares vest in three equal annual installments beginning on March 5, 2026, and 133,333 shares vest upon meeting performance goals.

What roles does Kenneth T. Sim hold at Astrana Health?

He is a Director and Executive Chairman.