[Form 4] Astrana Health Inc. Insider Trading Activity

Rhea-AI Filing Summary

Form 4 Overview: Director James R. Engebretsen acquired 97 shares of Federal Agricultural Mortgage Corporation ("Farmer Mac", ticker AGM) Class C Non-Voting Common Stock on 06/30/2025 at $194.28 per share, a transaction worth roughly $18.8 thousand.

The shares were issued pursuant to the director’s standing election to receive equity in lieu of part of his quarterly cash retainer. Following the issuance, the director now directly owns 15,975 shares, which include 376 time-vested RSUs scheduled to vest on 03/31/2026 contingent on continued board service. No derivative securities were bought or sold.

Materiality & Implications: The 97-share purchase represents an immaterial fraction of both the director’s total holdings and Farmer Mac’s overall share count, indicating a routine compensation-related issuance rather than a discretionary insider buy. While the move incrementally increases insider ownership and aligns incentives, it is unlikely to have a measurable impact on AGM’s valuation or trading dynamics.

Positive

• Director chose stock over cash, modestly increasing insider alignment with shareholder interests.

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine 97-share director issuance; negligible financial impact.

The director converted part of his quarterly board retainer into equity at market price, adding about $18.8 k worth of AGM stock to his holdings. Post-transaction ownership stands at 15,975 shares, including 376 RSUs. The purchase is compensation-driven, not an opportunistic buy, and represents a de-minimis percentage of both insider ownership and shares outstanding. Accordingly, the filing is neutral for valuation models and unlikely to influence liquidity or sentiment beyond a slight signal of continued director confidence.

Corporate Governance Expert

TL;DR: Stock-for-retainer election aligns incentives; governance-neutral.

Using equity instead of cash retains is a common practice to strengthen alignment between directors and shareholders. The modest 97-share increase marginally boosts insider ownership without diluting investors in any meaningful way. No red flags emerge regarding control, related-party transactions, or derivative structures. From a governance standpoint, the disclosure is routine and carries no material impact on board independence or oversight quality.

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).

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^*

Kumar Dinesh M.

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2025

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	07/01/2025		F		6,831(1)	D	$25.06	218,811(2)(3)	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. Represents the surrender of shares to offset against tax withholding obligations associated with the vesting of certain shares of restricted stock.

2. Includes the following shares of restricted stock, which will vest as follows (in each case subject to continuous employment with the Issuer): (i) 56,754 shares, which will vest in two equal annual installments beginning on January 23, 2026; (ii) 13,464 shares, which will vest on January 1, 2026; and (iii) grants of 8,158 shares and 3,264 shares, each of which will vest subject to the achievement of certain performance goals. Also includes the following restricted stock units, which will vest as follows (in each case subject to continuous employment with the Issuer): (i) 67,238 restricted stock units, which will vest subject to the achievement of certain performance goals; and (ii) 26,701 restricted stock units, which will vest in eight equal semi-annual installments beginning on September 5, 2025.

3. Includes 629 shares acquired under the Issuer's Employee Stock Purchase Plan.

	/s/ Kathy Diep, as Attorney-in-Fact	07/02/2025
	** 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).
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FAQ

How many AGM shares did Director James R. Engebretsen acquire?

He acquired 97 Class C Non-Voting Common shares on 06/30/2025.

What was the purchase price of the AGM shares?

The shares were issued at the market closing price of $194.28 on 06/30/2025.

What is the director’s total AGM shareholding after the transaction?

Engebretsen now beneficially owns 15,975 shares, including 376 time-vested RSUs.

Why were the shares issued to the director?

They were issued under the director’s election to receive stock in lieu of cash for part of his quarterly board retainer.

Does this Form 4 filing materially impact AGM’s share count or valuation?

No. The 97-share issuance is immaterial to Farmer Mac’s overall share count and has a neutral valuation impact.