Alignment Healthcare Inc

This summary highlights certain information contained elsewhere in our proxy statement. This summary does not contain all of the information that you should consider, and you should carefully read the entire proxy statement and our 2024 Annual Report to Stockholders before voting.

About Us

Alignment Healthcare is a next generation, consumer-centric platform designed to improve the health care experience for seniors. We deliver this experience through our Medicare Advantage plans, which are customized to meet the needs of a diverse array of seniors. Our innovative model of consumer-centric health care is purpose-built to provide seniors with care as it should be: high quality, low cost and accompanied by a vastly improved consumer experience. We combine a proprietary technology platform and a high-touch clinical model that enhances our members’ lifestyles and health outcomes while simultaneously controlling costs, which allows us to reinvest savings back into our platform and products to directly benefit the senior consumer. Our model is based on a flywheel concept, referred to as our “virtuous cycle,” which reflects our unique ability to manage health care expenditures while maintaining quality and member satisfaction.

Our ability to deliver lower health care costs while improving the consumer’s experience is a unique competitive advantage. In 2024, we achieved an overall Net Promoter Score (“NPS”) of 61, which includes an NPS of greater than 78 for our Care Anywhere program, and we had 98% of our members enrolled in a plan with a CMS star rating of 4 stars or above. From a clinical standpoint, we achieved a hospitalization rate of approximately 149 hospitalizations per every 1,000 at-risk members, which is approximately 41% lower than the 2019 Medicare FFS performance in our markets. These outcomes are achieved through our high-touch clinical model, which proactively manages chronic conditions and assists with post-discharge care navigation. Additionally, in 2024, the Company enhanced post-hospitalization care by embedding Alignment-employed Regional Medical Officers in skilled nursing facilities, ensuring high-risk members receive hands-on, real-time support to reduce readmissions and improve recovery outcomes. This differentiation has led to our demonstrated ability to rapidly scale, as evidenced by the expansion of our model to 53 markets across five states covering approximately 209,900 health plan members as of January 1, 2025 and more than 80% of gross sales sourced through plan switchers from a competing MA plan. We believe we have proven that our model is highly predictable and repeatable across different markets and will enable strong growth on a national level as we pursue our vision of becoming the most trusted senior health care brand in the country.

Our platform was developed to align with the six core principles that we believe will be required to successfully deliver health care in the 21st century and that we believe represent our key competitive strengths. Our platform enables us to:

•leverage data, technology and analytics to power all aspects of our model;

•engage consumers directly and develop products to meet their needs;

•proactively manage and coordinate care for our most vulnerable members;

•empower providers and employ flexible care delivery models;

•design and deploy innovative value-based payment models; and

•cultivate a culture of innovation.

Voting Matters and Board Recommendations

Our Director Nominees

You are being asked to vote on the election of the three Class I Directors listed below. For additional information about each nominee’s background and experience, please see “Proposal 1 – Election of Directors—Director Nominees to Serve for a Three-Year Term Expiring at the 2028 Annual Meeting” beginning on page 13.

Board Diversity

The Board believes that a diverse board is better able to effectively oversee the Company’s management and strategy and better positions us to deliver long-term value for our stockholders. Our Board recognizes that gender, racial or ethnic diversity, tenure and experience add to the overall mix of perspectives of our Board as a whole. The following charts present the diversity profile of the directors currently serving on our Board:

Stockholder Engagement Highlights

In 2024-25, we continued our robust stockholder engagement program. We proactively engage with stockholders and other stakeholders throughout the year to learn more about their perspectives on significant issues, including company performance and strategy, executive compensation and governance matters. We take feedback and insights from our engagement with stockholders and other stakeholders into consideration as we review and evolve our practices and disclosures, and share this feedback with our Board, as appropriate. For more information, see “Corporate Governance—Stockholder Engagement” on page 33.

Corporate Governance Highlights

We are committed to governance practices that promote the long-term interests of our stockholders, strengthen Board and management accountability and continue to build trust in our Company. The Board regularly reviews our governance profile to ensure that it reflects the evolving governance landscape applicable to our Company and appropriately supports and serves the best interests of the Company and our stockholders. For more information, see “Corporate Governance” beginning on page 22.

Executive Compensation Highlights

Our executive compensation philosophy is to forge critical connections between performance, long-term value creation, employee engagement and retention, compensation governance and our cultural values. The Compensation Committee reviews and approves the elements of our compensation program at least annually, with input from an independent compensation consultant. In 2024, we moved our performance share units from a one-year vesting period to a three-year vesting period, with performance measured in the third year, which was aimed at trying executive compensation to the achievement of long-term financial performance. The program is described in the “Compensation Discussion and Analysis” section of this proxy statement beginning on page 40. We believe the following practices and policies within our program promote sound compensation governance and are in the best interests of our stockholders and executives:

The following table illustrates the elements of pay we currently employ, the manner in which we position these elements relative to the market and the objectives achieved by each element:

For more information regarding our executive compensation program, please see “Compensation Discussion and Analysis—2024 Executive Compensation Program in Detail” beginning on page 47. For information regarding the 2024 compensation paid to our Named Executive Officers, please see “Executive and Director Compensation” beginning on page 55.