MediaAlpha CEO Steven Yi sells 26,033 shares

The weighted-average prices reflect underlying trades ranging from $10.00 to $10.045 and from $11.00 to $11.02 per share.

Rhea-AI Filing Summary

MediaAlpha, Inc. (MAX) CEO, President and co-founder Steven Yi sold 24,000 Class A shares on October 8, 2026, at a weighted-average $10.0393 per share, and 2,033 shares on October 9, 2026, at a weighted-average $11.0068 per share. Both sales were made under a previously adopted Rule 10b5-1 trading plan, primarily to cover taxes resulting from RSU vesting.

Insider Trade Summary 10b5-1

Net Seller: 26,033 shares

Net Sell 2 txns

Insider Yi Steven

Role See Remarks

Sold 26,033 shs ($263K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock F1, F3	2,033	$11.0068	$22K
Sale	Class A Common Stock F1, F2	24,000	$10.0393	$241K

Holdings After Transaction: Class A Common Stock — 2,313,707 shares (Direct)

Footnotes (3)

1. F1. 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.
2. F2. Reflects the weighted-average sale price for shares sold in multiple transactions at prices ranging from $10.00 to $10.045 per share. The Reporting Person undertakes to provide upon request by the Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.
3. F3. Reflects the weighted-average sale price for shares sold in multiple transactions at prices ranging from $11.00 to $11.02 per share. The Reporting Person undertakes to provide upon request by the Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.

Key Figures

Class A shares sold: 24,000 shares Weighted-average sale price: $10.0393 per share Class A shares sold: 2,033 shares +2 more

5 metrics

Class A shares sold 24,000 shares Sale on October 8, 2026

Weighted-average sale price $10.0393 per share October 8, 2026 sale; underlying prices ranged from $10.00 to $10.045

Class A shares sold 2,033 shares Sale on October 9, 2026

Weighted-average sale price $11.0068 per share October 9, 2026 sale; underlying prices ranged from $11.00 to $11.02

Shares sold across reported transactions 26,033 shares Two sales on October 8 and October 9, 2026

Key Terms

Rule 10b5-1 trading plan, weighted-average sale price, RSUs

3 terms

Rule 10b5-1 trading plan regulatory

"effected pursuant to a Rule 10b5-1 trading plan"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

weighted-average sale price financial

"Reflects the weighted-average sale price"

RSUs financial

"resulting from the vesting of RSUs"

RSUs, or restricted stock units, are a form of company shares given to employees as part of their compensation. They are typically awarded with certain restrictions, such as a waiting period before they can be fully owned or sold, similar to earning a gift that becomes fully yours over time. For investors, RSUs can impact a company's stock offerings and reflect how much the company relies on stock-based incentives to attract and retain talent.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many shares did MAX CEO Steven Yi sell?

Steven Yi sold 26,033 Class A shares in two reported sales: 24,000 shares on October 8, 2026, and 2,033 shares on October 9, 2026. Both sales were made under a previously adopted Rule 10b5-1 trading plan, primarily to cover taxes resulting from RSU vesting.

What prices did Steven Yi receive for MAX shares?

The weighted-average sale price was $10.0393 per share for 24,000 shares sold on October 8, 2026, with underlying sale prices ranging from $10.00 to $10.045. For 2,033 shares sold on October 9, 2026, the weighted-average sale price was $11.0068 per share, with underlying prices ranging from $11.00 to $11.02.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/09/2026 - 08:22 PM Accepted by SEC EDGAR 10/09/2026 - 08:21 PM Learn about SEC filing dates

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^*

Yi Steven

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	See Remarks

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/08/2026

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	10/08/2026		S(1)		24,000	D	$10.0393(2)	2,315,740	D
Class A Common Stock	10/09/2026		S(1)		2,033	D	$11.0068(3)	2,313,707	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.

2. Reflects the weighted-average sale price for shares sold in multiple transactions at prices ranging from $10.00 to $10.045 per share. The Reporting Person undertakes to provide upon request by the Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.

3. Reflects the weighted-average sale price for shares sold in multiple transactions at prices ranging from $11.00 to $11.02 per share. The Reporting Person undertakes to provide upon request by the Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.

Remarks:

CHIEF EXECUTIVE OFFICER, PRESIDENT, AND CO-FOUNDER

	/s/ Jeffrey B. Coyne	10/09/2026
	** 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)