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 2025 Annual Report to Stockholders before voting.

About Alignment Healthcare

We are a next generation, consumer-centric and clinically focused platform designed to improve the health care experience for seniors enrolled in Medicare who choose a private Medicare Advantage plan. Our goal is to provide seniors with easier access to care, better coordination among providers, fewer gaps in care and avoidable hospital visits, and support that meets them where they are—at home, online, or in their community. We deliver this experience through our wide variety of Medicare Advantage plans, which offer varied benefits tailored to the diverse needs, preferences, and lifestyles of seniors. We believe our plans are differentiated because of our unique ability to manage costs by delivering proactive care and managing chronic conditions through an integrated clinical and technology model. Our operations primarily consist of Medicare Advantage Plans in the states of California, North Carolina, Nevada, Arizona and Texas. Our ultimate goal is to bring this differentiated, advocacy-driven healthcare experience to millions of senior consumers in the United States and to become the most trusted senior healthcare brand in the country.

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. From a clinical standpoint, we achieved an inpatient admissions per thousand rate in the low-140s for our at-risk members. These outcomes are achieved through our high-touch clinical model, which proactively manages chronic conditions and assists with post-discharge care navigation. This differentiation has led to our demonstrated ability to rapidly scale, as evidenced by the expansion of our model to 45 markets across five states covering approximately 275,300 health plan members as of January 1, 2026 and approximately 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.

Proxy Statement Voting Roadmap

Our Director Nominees

You are being asked to vote on the election of the three Class II Directors listed below. For additional information about each nominee’s background and experience, please see “Proposal 1 – Election of Directors” beginning on page 14.

Stockholder Engagement Highlights

In 2025-26, 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 34.

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 23.

Executive Compensation Highlights

Our executive compensation philosophy is to directly align pay outcomes with Company performance, long-term stockholder value creation, and the attraction, retention and motivation of high-performing executives, while maintaining strong compensation governance and reinforcing our cultural values. The Compensation Committee reviews and approves the elements of our executive compensation program at least annually, with input from an independent compensation consultant and a focus on market competitiveness, pay-for-performance alignment and risk management. Our 2025 executive compensation program continued to reflect this philosophy by emphasizing at-risk, performance-based compensation tied to both annual and long-term financial and strategic objectives. A significant portion of total compensation is delivered through long-term equity incentives, aligning executives’ interests with those of our stockholders and promoting sustained value creation over time. Additional details regarding our executive compensation program are provided in the “Compensation Discussion and Analysis” section of this proxy statement beginning on page 41.

We believe the following practices and policies promote sound compensation governance and align the interests of our executives with those of our stockholders:

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—2025 Executive Compensation Program in Detail” beginning on page 48. For information regarding the 2025 compensation paid to our Named Executive Officers, please see “Executive and Director Compensation” beginning on page 57.