Form 4: MediaAlpha CEO Sells Shares Under 10b5-1 Plan

MediaAlpha CEO Steven Yi sold 24,000 shares of Class A Common Stock over three days in November 2025, pursuant to a pre-arranged Rule 10b5-1 trading plan to cover tax obligations.

Summary

• Steven Yi, the Chief Executive Officer, President, and Co-Founder of MediaAlpha, Inc. (MAX), reported the sale of Class A Common Stock.
• The transactions occurred on November 17, 18, and 19, 2025.
• A total of 24,000 shares were sold, with 8,000 shares disposed of on each of the three dates.
• The sales were executed under a Rule 10b5-1 trading plan, which was previously adopted by Mr. Yi.
• The stated purpose of these sales was to cover tax obligations arising from the vesting of Restricted Stock Units (RSUs).
• Following these reported transactions, Steven Yi's direct beneficial ownership of Class A Common Stock stands at 2,975,330 shares.

Sentiment

Score: 5

Explanation: The filing reports routine insider sales executed under a pre-arranged 10b5-1 plan specifically to cover tax obligations from RSU vesting. This is generally considered a neutral event, as it is not indicative of a change in management's view of the company's prospects, but rather a planned financial management action.

Negatives

• Steven Yi, a key executive, reduced his direct beneficial ownership of MediaAlpha Class A Common Stock by a total of 24,000 shares.

Future Outlook

N/A

Management Comments

• The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan previously adopted by the Reporting Person to cover taxes resulting from the vesting of RSUs.

Industry Context

N/A

Stakeholder Impact

• Shareholders: A minor reduction in direct insider ownership, which is mitigated by the pre-planned, tax-related nature of the sales under a Rule 10b5-1 plan.

Key Dates

Keywords

MediaAlpha, MAX, Steven Yi, Insider Trading, Form 4, Stock Sale, 10b5-1 Plan, CEO, Equity, Restricted Stock Units, RSU, Tax Obligations