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

MediaAlpha CEO Steven Yi sold 12,000 shares of Class A Common Stock over three days in March 2026, pursuant to a Rule 10b5-1 trading plan primarily to cover tax obligations from RSU vesting.

Summary

• Steven Yi, CEO, President, and Co-Founder of MediaAlpha, Inc. (MAX), reported sales of Class A Common Stock.
• A total of 12,000 shares were sold across three separate transactions between March 23, 2026, and March 25, 2026.
• The sales were executed under a pre-arranged 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 shares were sold at weighted-average prices ranging from $9.4155 to $9.67 per share.
• Following these transactions, Steven Yi's direct beneficial ownership of Class A Common Stock decreased from 3,051,247 shares to 3,043,247 shares.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event. While it represents insider selling, it was conducted under a pre-arranged 10b5-1 plan specifically to cover tax liabilities from RSU vesting, which is a routine and expected occurrence for executives receiving equity compensation.

Negatives

• Insider selling, even if pre-planned and for tax purposes, can sometimes be perceived negatively by investors, potentially signaling a lack of confidence or a desire to diversify holdings.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Management Comments

• The sales reported 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 the use of Rule 10b5-1 trading plans by corporate executives is a common practice to facilitate the orderly sale of company stock while mitigating concerns about insider trading. These plans allow executives to pre-arrange stock transactions at a time when they are not in possession of material non-public information, providing an affirmative defense against insider trading allegations. Sales to cover tax obligations from RSU vesting are also a standard occurrence for executives receiving equity compensation.

Stakeholder Impact

• Shareholders may observe a slight decrease in the CEO's direct ownership, though the pre-planned nature and stated reason (tax coverage) typically mitigate significant negative interpretations.

Key Dates

Keywords

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