Hunsaker Craig E 4

What Happened

• Craig E. Hunsaker, EVP, People & Culture at Alphatec (ATEC), exercised stock options on February 12, 2026 to acquire 251,176 shares of common stock. The exercised tranches were: 31,710 shares @ $1.93, 120,248 shares @ $1.68, 78,249 shares @ $2.69, and 20,969 shares @ $3.09.
• The exercise was completed on a cashless basis: the company withheld 41,105 shares to cover exercise price/taxes (withholding price $13.10/share, valued at $538,476) and issued 210,071 shares to Mr. Hunsaker. This was an option exercise (derivative transaction), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-02-12; Form 4 filed: 2026-02-17 (filing appears one business day late; Form 4 due by 2026-02-16).
• Exercise prices: $1.68 to $3.09 per share across four option tranches.
• Shares exercised (gross): 251,176; shares withheld for cashless exercise: 41,105; shares issued to insider (net): 210,071.
• Withholding value used: 41,105 shares × $13.10 = $538,476 (reported as payment of exercise price/tax liability).
• Footnotes: F1 confirms cashless exercise and net issuance; F2–F3 describe the original option grant (board approval Feb 21, 2017; shareholder approval June 15, 2017) and vesting schedule (25% at first anniversary, then monthly over 36 months).
• Shares owned after the transaction are not specified in the provided filing data.

Context

• Cashless (same-day) exercises are common: the holder converts options into shares without an out-of-pocket cash payment by surrendering a portion of the exercised shares to cover costs and taxes.
• The option exercise prices were substantially below the market price used for withholding ($13.10), which means the exercised options had intrinsic value at the time of exercise; the filing itself does not explain the insider’s motives.
• This is an insider option exercise (transaction code M) with tax/exercise withholding (code F), not a market sale or purchase.