Marshall Tyson Eliot 4

What Happened
Marshall Tyson Eliot, General Counsel & Corporate Secretary of Alphatec Holdings (ATEC), exercised options on April 7, 2026 to acquire a total of 102,500 underlying shares. The exercises were across four tranches: 15,000 at $1.98 ($29,700), 15,000 at $1.68 ($25,200), 12,500 at $3.34 ($41,750), and 60,000 at $2.69 ($161,400) — total exercise price approximately $258,050. The exercise was completed on a cashless basis: the company withheld 23,393 shares (valued at $11.03 each) to satisfy the exercise cost/taxes and issued 79,107 shares to the reporting person.

Key Details

• Transaction date: April 7, 2026; Form 4 filed April 9, 2026 (no late filing indicated).
• Option tranches exercised and exercise amounts:
  • 15,000 shares @ $1.98 = $29,700
  • 15,000 shares @ $1.68 = $25,200
  • 12,500 shares @ $3.34 = $41,750
  • 60,000 shares @ $2.69 = $161,400
• Total underlying shares exercised: 102,500; total exercise price ≈ $258,050.
• Withholding: 23,393 shares withheld at $11.03/share (≈ $258,025) to pay exercise/tax obligations (transaction code F). Net shares issued to insider: 79,107 (transaction code M for option exercise).
• Shares owned after the transaction: not specified in the provided filing details.
• Footnote highlights: F1 confirms the cashless exercise and withholding details; F2 describes the option vesting schedule (25% on first anniversary, then monthly over 36 months; options expire 10 years from grant).

Context
This was an exercise of stock options (derivative conversion) rather than an open-market buy or sale. A cashless exercise means some exercised shares were surrendered/withheld to cover the exercise price and related tax withholding, so the insider received net newly issued shares. Option vesting and expiration terms (see F2) govern when remaining option shares become exercisable. Transaction codes: M = option exercise, F = payment of exercise price/tax liability.