Form 4: MediaAlpha CEO Steven Yi Converts RSUs

MediaAlpha's CEO and Co-Founder, Steven Yi, acquired 18,294 Class A Common Stock shares through the vesting of Restricted Stock Units.

Summary

• Steven Yi, MediaAlpha's Chief Executive Officer, President, Co-Founder, and a Director, acquired 18,294 shares of Class A Common Stock.
• The acquisition occurred on August 15, 2025, through the vesting of Restricted Stock Units (RSUs) at a price of $0 per share.
• Each RSU represents a contingent right to receive one share of Class A Common Stock, or equivalent cash at the Compensation Committee's option.
• Following this transaction, Steven Yi directly beneficially owns 2,981,036 shares of Class A Common Stock.
• An additional 36,588 Restricted Stock Units remain beneficially owned by Steven Yi.
• The transaction was made pursuant to a contract, instruction, or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. While it's a routine RSU vesting, it increases the direct beneficial ownership of a key executive, aligning interests with shareholders. There are no negative implications from this specific transaction.

Positives

• The transaction increases the direct beneficial ownership of Class A Common Stock by a key executive, Steven Yi, aligning his interests further with shareholders.
• The vesting of RSUs is a standard compensation mechanism, indicating continued executive retention and commitment.

Future Outlook

The remaining Restricted Stock Units (RSUs) will continue to vest in equal quarterly installments through February 15, 2026, contingent upon Steven Yi's continued employment with MediaAlpha, Inc.

Management Comments

• Steven Yi holds the titles of Chief Executive Officer, President, and Co-Founder.

Industry Context

This filing represents a routine insider equity compensation event, common across publicly traded companies, and does not directly reflect broader industry trends or competitive dynamics.

Stakeholder Impact

• Shareholders: The increase in direct beneficial ownership by a key executive may be viewed positively as it aligns management's interests with shareholder value creation.

Next Steps

• Remaining Restricted Stock Units (RSUs) will continue to vest in equal quarterly installments through February 15, 2026.

Key Dates

Recommendation

This Form 4 reports a routine, pre-scheduled vesting of Restricted Stock Units (RSUs) by a key executive, Steven Yi, under a Rule 10b5-1 plan. Such transactions are generally expected and do not typically signal a change in the company's fundamental outlook or warrant a change in investment recommendation based solely on this filing. The increase in direct beneficial ownership for the executive is a minor positive for alignment of interests, but insufficient to alter a broader investment thesis.

Keywords

MediaAlpha, MAX, Steven Yi, SEC Form 4, Insider Transaction, Restricted Stock Units, RSU Vesting, Equity Compensation, Corporate Governance, 10b5-1 Plan