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

MediaAlpha's CEO, Steven Yi, sold 12,000 shares of Class A Common Stock across three days in February 2026, primarily to cover tax obligations from RSU vesting.

Summary

• Steven Yi, the Chief Executive Officer, President, and Co-Founder of MediaAlpha, Inc. (MAX), reported sales of Class A Common Stock.
• A total of 12,000 shares were sold over three separate transactions on February 17, 18, and 19, 2026.
• The sales were executed under a pre-established Rule 10b5-1 trading plan.
• The primary purpose of these sales was to cover tax liabilities arising from the vesting of Restricted Stock Units (RSUs).
• The weighted-average sale prices ranged from $7.1592 to $7.3439 per share across the transactions.
• Following these transactions, Steven Yi beneficially owns 2,709,624 shares of Class A Common Stock.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral event. While it's an insider sale, the pre-arranged 10b5-1 plan and the stated purpose of covering tax liabilities from RSU vesting mitigate any negative sentiment typically associated with insider selling.

Positives

• The sales were conducted under a Rule 10b5-1 trading plan, indicating a pre-scheduled transaction rather than a discretionary sale based on new, non-public information.
• The primary reason for the sales was to cover tax obligations from RSU vesting, which is a common and often necessary practice for executives receiving equity compensation.

Negatives

• A reduction in direct beneficial ownership by a key executive, even if for tax purposes, could be perceived negatively by some investors as it slightly decreases management's direct equity stake.

Future Outlook

NA

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 primarily to cover taxes resulting from the vesting of RSUs.

Industry Context

StockSavvy.ai notes that insider sales executed under a Rule 10b5-1 plan are common practice among executives for personal financial planning, such as tax management or diversification, and are generally viewed differently than discretionary, open-market sales, which might signal a change in management's outlook on the company's prospects. This type of transaction is typical across various industries for executives receiving equity compensation.

Stakeholder Impact

• Shareholders: A slight reduction in direct insider ownership, but the reason (tax-related RSU vesting) suggests no negative signal about company fundamentals.
• Employees: No direct impact is mentioned.
• Customers: No direct impact is mentioned.
• Suppliers: No direct impact is mentioned.
• Creditors: No direct impact is mentioned.

Key Dates

Recommendation

The insider sales by CEO Steven Yi are routine transactions under a Rule 10b5-1 plan, primarily to cover tax obligations from RSU vesting. This type of sale does not typically signal a change in management's confidence in the company's future prospects. Therefore, the filing itself does not provide new information that would warrant a change in investment thesis, suggesting a 'hold' recommendation based solely on this disclosure.

Keywords

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