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

MediaAlpha CEO Steven Yi sold 12,000 shares of Class A Common Stock across three transactions in late March and early April 2026, pursuant to a Rule 10b5-1 trading plan.

Summary

• Steven Yi, Chief Executive Officer, President, Co-Founder, and Director of MediaAlpha, Inc. (MAX), reported sales of Class A Common Stock.
• A total of 12,000 shares were sold over three separate transactions: 4,000 shares on March 30, 2026, 4,000 shares on March 31, 2026, and 4,000 shares on April 1, 2026.
• The sales were executed at weighted-average prices of $9.2301, $9.60, and $9.1467 per share, respectively.
• These transactions were conducted pursuant to a Rule 10b5-1 trading plan, primarily to cover taxes resulting from the vesting of Restricted Stock Units (RSUs).
• Following these transactions, Steven Yi's direct beneficial ownership of Class A Common Stock decreased from 3,039,247 shares to 3,031,247 shares.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event. Sales under a 10b5-1 plan, especially for tax purposes related to RSU vesting, are routine and generally do not signal a change in management's outlook on the company's prospects.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a structured and non-discretionary approach to managing equity compensation and tax obligations.

Negatives

• The transactions resulted in a reduction of 12,000 shares in the direct beneficial ownership of Class A Common Stock by a key executive, which slightly decreases insider alignment with shareholder interests.

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 executive stock sales conducted under Rule 10b5-1 plans are a common practice in the industry, particularly for managing tax liabilities associated with the vesting of equity awards like RSUs. These pre-scheduled plans are designed to allow insiders to sell shares without being accused of trading on material non-public information.

Stakeholder Impact

• Shareholders: The impact on shareholders is minimal, as these are routine, pre-scheduled sales for tax purposes and do not reflect a change in the executive's confidence in the company.

Key Dates

Recommendation

The reported insider sales are routine transactions executed under a Rule 10b5-1 plan, primarily to cover tax obligations from RSU vesting. Such pre-scheduled sales typically do not indicate a change in the company's fundamentals or management's long-term view, thus providing no strong signal for a 'buy' or 'sell' recommendation. A 'hold' recommendation is appropriate as this filing does not present new information that would significantly alter an investment thesis.

Keywords

MediaAlpha, MAX, Steven Yi, Insider Selling, Form 4, 10b5-1 Plan, Stock Sale, Executive Compensation, Class A Common Stock