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

MediaAlpha CEO Steven Yi sold 20,748 shares of Class A Common Stock across multiple transactions in late February 2026, primarily to cover tax obligations from RSU vesting.

Summary

• Steven Yi, CEO, President, and Co-Founder of MediaAlpha, Inc. (MAX), reported the sale of 20,748 shares of Class A Common Stock.
• The sales occurred on February 23, 2026, February 24, 2026, and February 25, 2026.
• Transactions included 4,000 shares at a weighted-average price of $7.7507, 4,000 shares at $8.80, 4,000 shares at $9.00, and 8,748 shares at a weighted-average price of $10.0027.
• These sales were executed under a pre-established Rule 10b5-1 trading plan, primarily to cover tax liabilities arising from the vesting of Restricted Stock Units (RSUs).
• Following these transactions, Steven Yi beneficially owns 2,688,876 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-planned nature under a 10b5-1 plan and the stated reason of covering tax liabilities from RSU vesting mitigate concerns about negative sentiment.

Positives

• The sales were conducted under a Rule 10b5-1 trading plan, indicating they were pre-scheduled and not a reaction to recent negative company news.
• The primary stated reason for the sales is to cover tax obligations from RSU vesting, which is a common and expected practice for executives.

Negatives

• An insider sale, even if pre-planned, can sometimes be perceived negatively by the market as it reduces the insider's direct equity stake.
• The sales occurred at varying prices, with some shares sold at lower prices ($7.7507, $8.80, $9.00) compared to the highest price ($10.0027), potentially indicating a lack of conviction at lower price points, though this is speculative given the 10b5-1 plan.

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 under Rule 10b5-1 plans are a common practice across industries, particularly for executives managing their equity compensation and tax liabilities. These pre-arranged plans are designed to allow insiders to sell shares without being accused of trading on material non-public information.

Stakeholder Impact

• Shareholders: The reduction in the CEO's direct ownership, though minor relative to his remaining holdings and pre-planned, could be viewed with slight caution by some, but is generally understood as a tax-related event.
• Employees: No direct impact mentioned.
• Customers/Suppliers/Creditors: No direct impact mentioned.

Key Dates

Recommendation

The insider sales by CEO Steven Yi are routine transactions executed under a Rule 10b5-1 plan, primarily to cover tax obligations from RSU vesting. This type of transaction is generally not indicative of a change in management's outlook on the company's future prospects. Therefore, it does not provide a strong signal for either buying or selling, suggesting a 'hold' recommendation based solely on this filing.

Keywords

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