[Form 4] Astrana Health Inc. Insider Trading Activity

Rhea-AI Filing Summary

David Schmidt, a director of Astrana Health, Inc. (ASTH), reported option exercise and subsequent disposition on 09/02/2025. He exercised a stock option with an $18.20 exercise price to acquire 20,000 shares, and those 20,000 shares were subsequently disposed of (repurchased by the issuer) at $27.76. After these transactions, Schmidt beneficially owned 15,763 shares, which include 6,449 restricted shares that vest on the earlier of June 11, 2026 or the 2026 annual meeting. The reported derivative position shows the exercised options were fully vested and exercisable; following the transactions there are 0 derivative securities reported.

Positive

• 20,000 option shares were exercised, converting vested derivative exposure into common stock
• 6,449 restricted shares remain in the reporting person's beneficial ownership with defined vesting terms

Negative

• Issuer repurchased 20,000 shares, reducing the reporting person's beneficial ownership to 15,763 shares
• No remaining derivative securities reported for the reporting person after these transactions

Insights

Corporate Governance Expert

TL;DR: Director exercised vested options and the issuer repurchased the resulting shares, leaving the director with reduced outstanding ownership including restricted shares.

The filing shows standard insider activity: exercise of fully vested options at $18.20 and an immediate disposition where the issuer repurchased 20,000 shares at $27.76. The transaction reduced the director's beneficial holdings to 15,763 shares and left no outstanding derivative options for him. The inclusion of 6,449 restricted shares with a defined vesting trigger is material to ownership continuity. This is a routine Section 16 report documenting compensation-related equity activity rather than an unusual governance event.

Securities Analyst

TL;DR: Vested option exercise converted derivatives to common stock then repurchased by issuer; net common holdings and restricted shares are disclosed precisely.

The Form 4 details an $18.20 exercise for 20,000 shares and a disposition at $27.76 the same day, leaving the reporting person with 15,763 shares, of which 6,449 are restricted until mid-2026 or the annual meeting. The report confirms the options were fully vested and exercisable prior to exercise. From an investor-disclosure standpoint, the filing cleanly reports compensation-derived equity movements and remaining beneficial ownership without indicating additional derivative exposure.

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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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^*

Schmidt David

(Last) (First) (Middle)

C/O ASTRANA HEALTH, INC.

1668 S. GARFIELD AVE, 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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/02/2025

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	09/02/2025		M		20,000	A	$18.2	35,763	D
Common Stock	09/02/2025		D(1)		20,000	D	$27.76	15,763(2)	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
Stock Option (right to Buy)	$18.2	09/02/2025		M			20,000	(3)	11/11/2025	Common Stock	20,000	$0	0	D

Explanation of Responses:

1. These shares were repurchased by the Issuer.

2. Includes 6,449 shares of restricted stock, which will vest on the earlier of June 11, 2026 or the date of the Issuer's 2026 annual meeting of stockholders.

3. These stock options were fully vested and exercisable.

	/s/ Kathy Diep, as Attorney-in-Fact	09/03/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transactions did ASTH director David Schmidt report on Form 4?

The filing reports that on 09/02/2025 Schmidt exercised 20,000 options at an $18.20 exercise price and the resulting 20,000 common shares were repurchased by the issuer at $27.76.

How many shares does David Schmidt beneficially own after the reported transactions?

After the transactions Schmidt beneficially owns 15,763 shares in total, including 6,449 restricted shares.

Were the stock options exercised by Schmidt vested and exercisable?

Yes, the Form 4 states those stock options were fully vested and exercisable prior to exercise.

What is the vesting condition for the restricted shares included in Schmidt's holdings?

The 6,449 restricted shares vest on the earlier of June 11, 2026 or the date of the issuer's 2026 annual meeting of stockholders.

Who signed the Form 4 and when was it filed?

The Form 4 was signed by Kathy Diep, as Attorney-in-Fact on 09/03/2025.