The CEO received total compensation of $9.1 million in 2025, anchored by a single large one-time stock award worth $6 million granted at IPO that covers multiple future years all at once, which inflates reported pay in a year when the stock has returned -0.7% versus a peer group median of +47.1% — a gap of nearly 48 percentage points; the annual bonus plan uses only a single short-term metric (Adjusted EBITDA) with no long-term stock-based performance conditions, meaning above-target incentive payouts were earned while shareholders experienced sustained underperformance relative to peers; taken together, the compensation structure — particularly the outsized front-loaded equity grant and single-metric bonus — does not demonstrate adequate pay-for-performance alignment given the deep and sustained gap between ALH's stock performance and that of its own disclosed peer group.

Ernst & Young has served as ALH's auditor since 2017 (approximately 9 years), well below the 25-year tenure threshold; non-audit fees (tax fees of $13,000) represent less than 1% of audit fees of $3,261,000, far below the 50% ratio that would raise independence concerns; EY is a Big 4 firm appropriate for a $4.9 billion market cap company, and no material restatements are disclosed.