MediaAlpha (MAX) CTO trims stake with 3,000-share 10b5-1 tax-related sale

Rhea-AI Filing Summary

MediaAlpha, Inc. Chief Technology Officer sells shares under a pre-set plan. CTO Yeh Kuanling Amy sold 3,000 shares of Class A common stock at $9.44 per share in an open-market transaction. The sale was executed under a previously adopted Rule 10b5-1 trading plan primarily to cover taxes from vesting RSUs, and she still directly holds 577,879 shares after the transaction.

Insights

Insider trading and governance analyst

Small, pre-planned CTO share sale mainly for tax, routine in nature.

The CTO of MediaAlpha, Inc., Yeh Kuanling Amy, sold 3,000 shares of Class A common stock at $9.44 per share in an open-market transaction. This is classified as a sale transaction with direct ownership.

A key footnote states the sale was executed under a previously adopted Rule 10b5-1 trading plan, primarily to cover taxes from the vesting of RSUs. Such pre-planned, tax-related sales are generally considered routine administrative transactions rather than discretionary market timing decisions.

Following the sale, the CTO continues to hold 577,879 shares, indicating the transaction represents only a small portion of her overall stake. The filing does not indicate any derivative exercises or other concurrent insider activities, suggesting limited impact on broader governance or sentiment.

Insider Trade Summary 10b5-1

Net Seller: 3,000 shares ($28,320)

Net Sell 1 txn

Insider Yeh Kuanling Amy

Role Chief Technology Officer

Sold 3,000 shs ($28K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	3,000	$9.44	$28K

Holdings After Transaction: Class A Common Stock — 577,879 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a 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). See Instruction 10.

1. Name and Address of Reporting Person^*

Yeh Kuanling Amy

(Last) (First) (Middle)

C/O MEDIAALPHA, INC.

700 SOUTH FLOWER STREET, SUITE 640

(Street)

LOS ANGELES CALIFORNIA 90017

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
MediaAlpha, Inc. [ MAX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Technology Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/27/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	03/27/2026		S(1)		3,000	D	$9.44	577,879	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. 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.

Remarks:

	/s/ Jeffrey B. Coyne	03/27/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did MediaAlpha (MAX) report for its CTO?

MediaAlpha reported that CTO Yeh Kuanling Amy sold 3,000 shares of Class A common stock in an open-market transaction at $9.44 per share. This Form 4 filing details the sale and her remaining direct ownership after the transaction.

How many MediaAlpha (MAX) shares does the CTO still hold after the sale?

After selling 3,000 shares, CTO Yeh Kuanling Amy directly holds 577,879 shares of MediaAlpha Class A common stock. This indicates the transaction was small relative to her total stake and leaves her with a substantial remaining ownership position.

Was the MediaAlpha (MAX) CTO share sale part of a Rule 10b5-1 plan?

Yes. A footnote explains the sales were effected under a previously adopted Rule 10b5-1 trading plan. Such plans pre-schedule trades, reducing discretion over timing and often signaling routine portfolio or tax management rather than opportunistic selling.

Why did the MediaAlpha (MAX) CTO sell 3,000 shares according to the filing?

The filing states the Rule 10b5-1 plan was adopted primarily to cover taxes arising from the vesting of restricted stock units (RSUs). This suggests the sale was mainly a tax-related liquidity event rather than a change in long-term investment view.

What transaction code appears in the MediaAlpha (MAX) CTO Form 4 filing?

The transaction uses code “S,” which the filing describes as a sale in an open market or private transaction. This confirms the 3,000-share disposition was an open-market sale at a reported price of $9.44 per share.

Does the MediaAlpha (MAX) Form 4 show any derivative or option exercises by the CTO?

No. The derivative summary is empty, and transaction data show only a single non-derivative sale of common stock. There are no reported option exercises, conversions, or other derivative transactions in this particular Form 4 filing.