[Form 4] Alphatec Holdings, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Alphatec Holdings, Inc. (ATEC)$20.62 per share, in multiple trades within a price range of $20.34 to $20.79. The transaction was reported as an indirect sale through Squadron Capital LLC.

After this transaction, the reporting person is shown as beneficially owning 10,895,045 Alphatec shares indirectly through Squadron Capital LLC and 346,827 shares directly. As one of two members of Squadron’s managing committee, he may be deemed a beneficial owner of the indirectly held shares, although he expressly disclaims beneficial ownership except to the extent of his pecuniary interest.

Insights

Equity Ownership and Governance Analyst

Insider sold 250,000 shares but retains a very large stake; ownership levels remain high after this transaction.

The filing reports that a reporting person who is both a director and a 10% owner of Alphatec Holdings, Inc. (ATEC) sold 250,000 shares of common stock on 11/24/2025. The sale was at a weighted average price of $20.62, with individual trades ranging from $20.34 to $20.79. After the sale, 10,895,045 shares are reported as beneficially owned indirectly through Squadron Capital LLC, and 346,827 shares are listed separately as directly owned.

The filing clarifies that the large indirect position is held by Squadron and that the reporting person may be deemed a beneficial owner as one of two members of its managing committee. It also states that beneficial ownership of those indirect shares is expressly disclaimed except for any pecuniary interest. This language is standard for shared or entity-level holdings and signals that economic exposure exists, even if legal control is structured through an LLC.

From an ownership-structure perspective, the key takeaway is that a sizable block was sold, but a much larger stake remains in place after 11/24/2025. The transaction did not involve derivatives, did not change roles or reporting status, and did not reference a Rule 10b5-1 trading plan. The filing mainly updates the market on current insider holdings and recent share disposition rather than indicating any explicit shift in governance or control.

11/25/2025 - 07:00 PM

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^*

Pelizzon David R

(Last) (First) (Middle)

C/O ALPHATEC SPINE, INC.

1950 CAMINO VIDA ROBLE

(Street)

CARLSBAD CA 92008

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Alphatec Holdings, Inc. [ ATEC ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
11/24/2025

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	11/24/2025		S		250,000	D	$20.62(1)	10,895,045	I	By Squadron Capital LLC(2)
Common Stock								346,827	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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $20.34 to $20.79, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.

2. These shares are held by Squadron Capital LLC ("Squadron"). As one of two members of the Managing Committee of Squadron, the reporting person may be deemed to be the beneficial owner of these shares. The reporting person expressly disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest therein. The inclusion of these shares in this report shall not be deemed to be an admission of beneficial ownership for purposes of Section 16 or for any other purpose.

	/s/ David R. Pelizzon	11/25/2025
	** 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 insider transaction did Alphatec (ATEC) report in this Form 4?

The Form 4 reports that a director and 10% owner of Alphatec Holdings, Inc. (ATEC) sold 250,000 shares of common stock on 11/24/2025.

At what price were the Alphatec (ATEC) shares sold in the reported transaction?

The 250,000 Alphatec shares were sold at a weighted average price of $20.62 per share, in multiple trades between $20.34 and $20.79.

Who is the reporting person in this Alphatec (ATEC) Form 4 filing?

The reporting person is a director and 10% owner of Alphatec Holdings, Inc., who reports indirect ownership through Squadron Capital LLC.

How many Alphatec (ATEC) shares does the insider report owning after the sale?

Following the transaction, the insider reports 10,895,045 shares indirectly held through Squadron Capital LLC and 346,827 shares held directly.

How are the indirectly held Alphatec (ATEC) shares structured?

The indirectly held shares are owned by Squadron Capital LLC. As one of two members of its managing committee, the reporting person may be deemed a beneficial owner but disclaims beneficial ownership except for his pecuniary interest.

Does the Form 4 mention a price range for the Alphatec (ATEC) share sale?

Yes. The filing states the 250,000 shares were sold in multiple transactions at prices ranging from $20.34 to $20.79 per share.