Form 4: MediaAlpha CEO Sells Shares Under 10b5-1 Plan
Insider Transaction Report
MediaAlpha CEO Steven Yi sold 24,000 shares of Class A Common Stock over three days in January 2026, pursuant to a pre-arranged 10b5-1 trading plan to cover tax obligations from RSU vesting.
Summary
- Steven Yi, CEO, President, Co-Founder, and Director of MediaAlpha, Inc. (MAX), reported sales of Class A Common Stock.
- A total of 24,000 shares were sold across three separate transactions on January 12, 13, and 14, 2026.
- Each transaction involved the sale of 8,000 shares.
- The sales were executed under a Rule 10b5-1 trading plan, specifically to cover taxes resulting from the vesting of Restricted Stock Units (RSUs).
- The weighted-average sale prices were $11.5098 on January 12, $11.3709 on January 13, and $11.6941 on January 14.
- Following these transactions, Steven Yi beneficially owns 2,783,330 shares of Class A Common Stock.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the reported sales are routine transactions executed under a pre-arranged 10b5-1 plan specifically to cover tax obligations from RSU vesting, rather than discretionary sales indicating a change in management's outlook on the company.
Future Outlook
The filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.
Management Comments
- The sales 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
This insider transaction is a routine disclosure related to an individual's stock holdings and does not provide broader insights into industry trends or competitive landscape. Sales under a 10b5-1 plan for tax purposes are common among executives receiving equity compensation.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Chief Executive Officer | N/A | Steven Yi | N/A | N/A Current role, not a change. |
| President | N/A | Steven Yi | N/A | N/A Current role, not a change. |
| Co-Founder | N/A | Steven Yi | N/A | N/A Current role, not a change. |
| Director | N/A | Steven Yi | N/A | N/A Current role, not a change. |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Trading Plan Disclosure | The sales were conducted pursuant to a Rule 10b5-1 trading plan, which allows insiders to set up a pre-scheduled plan for buying or selling company stock to avoid accusations of insider trading. | N/A | Demonstrates adherence to SEC regulations for insider trading and provides transparency regarding executive stock transactions. |
Stakeholder Impact
- Shareholders: The sale is a routine, pre-planned transaction for tax purposes and is unlikely to signal a change in management's confidence or have a significant direct impact on shareholder value beyond the disclosed volume.
Key Dates
| Date | Description |
|---|---|
| 01/12/2026 | Sale of 8,000 Class A Common Stock shares at a weighted-average price of $11.5098. |
| 01/13/2026 | Sale of 8,000 Class A Common Stock shares at a weighted-average price of $11.3709. |
| 01/14/2026 | Sale of 8,000 Class A Common Stock shares at a weighted-average price of $11.6941. |
Recommendation
holdThe reported transactions are routine insider sales executed under a pre-arranged 10b5-1 trading plan to cover tax obligations from RSU vesting. Such sales are not typically indicative of management's sentiment towards the company's future performance and do not provide new fundamental information that would warrant a change in investment recommendation. Therefore, a 'hold' recommendation is appropriate, maintaining existing positions based on the company's underlying fundamentals rather than this specific insider transaction.
Keywords
MediaAlpha, MAX, Steven Yi, Insider Trading, Form 4, Stock Sale, 10b5-1 Plan, CEO, Director, Restricted Stock Units, Tax Obligations
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