Craig E. Hunsaker, EVP, People & Culture at Alphatec Holdings (ATEC 6.48%), executed an open-market sale of 32,584 shares valued at $679,050.56 on Dec. 10, 2025, as reported in the SEC Form 4 filing.
Transaction summary
| Metric | Value |
|---|---|
| Shares sold (direct) | 32,584 |
| Transaction value | $679,050.56 |
| Post-transaction shares (direct) | 1,256,558 |
| Post-transaction value (direct ownership) | $26,144,988.72 |
Transaction value based on SEC Form 4 reported price ($20.84); post-transaction value based on trade price ($20.84).
Key questions
- How significant was this sale relative to the insider’s typical transaction size?
The 32,584 shares sold are materially below both the recent median sale of 60,876 shares and the historical median of 59,119 shares for Hunsaker's sell-only events, indicating a smaller-than-usual transaction. - What portion of the insider's holdings did this trade represent?
This sale accounted for 2.53% of Hunsaker’s direct ownership at the time, which is slightly below his historical median of 2.79% per sell trade and less than several large sales completed after February 2023. - Was there any indirect or derivative activity involved?
No; the disposition involved only directly held common stock, with no participation from trusts, entities, or options activity. - Does the reduced size reflect a change in selling cadence or remaining capacity?
The declining trade size is consistent with reduced remaining share capacity, as Hunsaker's direct holdings have fallen by more than half since January 2023, limiting the scale of further sales.
Company overview
| Metric | Value |
|---|---|
| Price (as of market close 12/10/25) | $20.90 |
| Market capitalization | $2.44 billion |
| Revenue (TTM) | $728.02 million |
| 1-year price change | 116.6% |
* 1-year performance is calculated using Dec. 10, 2025 as the reference date.
Company snapshot
- Offers a portfolio of spinal surgery solutions, including neural monitoring systems, fixation platforms, interbody implants, and biologics targeting spinal disorders.
- Generates revenue primarily through the sale of proprietary medical devices and related products to hospitals and surgical centers, distributed via a direct sales force and independent distributors in the U.S.
- Serves spine surgeons and healthcare providers specializing in the surgical treatment of spinal pathologies, with a focus on the U.S. market.
Alphatec Holdings, Inc. is a U.S.-based medical technology company specializing in innovative solutions for spinal surgery. The company's strategy centers on advancing proprietary platforms and expanding its portfolio to address complex spinal conditions. Its competitive edge lies in a differentiated product suite and a focused commercial presence in the U.S. spine market.
NASDAQ: ATEC
Key Data Points
What this transaction means for investors
Company insiders may sell shares for any number of reasons, including liquidity or tax purposes, and while it can be wise to follow the moves of managers and institutional investors, observers should be cautious about the conclusions they draw.
That said, Hunsaker's sale appears to have been lucrative. Alphatec's 116% rise over the last year trounces the benchmark S&P 500's 15% total return and the 2.8% decline in the State Street SPDR Health Care Equipment ETF, which also holds Alphatec stock. Alphatec is a small-cap stock in the medical technologies space, which can present a lot of exciting upside, but also comes with big risks.
Despite a solid preliminary report in January 2026, the stock dropped nearly 22% in one day on a disappointing mid-teens growth projection. The company also remains unprofitable. But there may be more positive developments on the horizon. The company recently announced a partnership with Theradaptive that gives Alphatec exclusive U.S. rights to commercialize its spinal fusion technology, OsteoAdapt. OsteoAdapt is still in clinical trials, but if the partnership translates into surgeon adoption and revenue growth, it could benefit handsomely. Investors who believe in the industry's potential and Alphatec's ability to capitalize may want to consider an investment here. But regulatory risks remain, and Alphatec is focused on a very specific healthcare solution in a competitive environment, which adds risk to the investment thesis for those looking for a foundational investment.
Glossary
Insider: A company executive, director, or major shareholder with access to non-public company information.
Open-market sale: The sale of securities by an insider on a public exchange, rather than through a private transaction.
SEC Form 4: A required filing that reports insider trades of company stock to the U.S. Securities and Exchange Commission.
Direct holdings: Shares owned and controlled directly by an individual, not through a trust or third party.
Indirect holdings: Shares owned through entities such as trusts, family members, or investment vehicles, not held personally.
Derivative components: Financial instruments whose value is based on the price of an underlying asset, such as options or warrants.
Disposition: The act of selling or otherwise transferring ownership of an asset or security.
Median sale: The middle value in a series of sale amounts, used to show a typical transaction size.
Sell-only events: Transactions where only sales, not purchases, of shares are made by the insider.
Remaining share capacity: The number of shares an insider still owns and could potentially sell in the future.
Proprietary platforms: Unique products or technologies developed and owned exclusively by a company.
TTM: The 12-month period ending with the most recent quarterly report.
