MediaAlpha CEO sells 94,790 shares under plan

Rhea-AI Filing Summary

MediaAlpha, Inc. CEO, president and co‑founder Steven Yi reported two open‑market sales of Class A common stock totaling 94,790 shares on July 16–17, 2026, at weighted‑average prices of $14.3901 and $14.1973 per share under a Rule 10b5‑1 trading plan primarily to cover taxes from RSU vesting. After these trades, he directly holds 2,459,690 shares.

Insider Trade Summary 10b5-1

Net Seller: 94,790 shares

Net Sell 2 txns

Insider Yi Steven

Role See Remarks

Sold 94,790 shs ($1.36M)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock F1, F3	12,333	$14.1973	$175K
Sale	Class A Common Stock F1, F2	82,457	$14.3901	$1.19M

Holdings After Transaction: Class A Common Stock — 2,459,690 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 $14.03 to $14.68 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 $14.00 to $14.24 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

Shares sold 2026-07-16: 82,457 shares Shares sold 2026-07-17: 12,333 shares Total shares sold: 94,790 shares +3 more

6 metrics

Shares sold 2026-07-16 82,457 shares Open-market sale of Class A Common Stock at weighted-average $14.3901 per share

Shares sold 2026-07-17 12,333 shares Open-market sale of Class A Common Stock at weighted-average $14.1973 per share

Total shares sold 94,790 shares Net shares sold across reported July 16–17, 2026 transactions

Holdings after transactions 2,459,690 shares Directly owned Class A Common Stock following the July 17, 2026 sale

Price range 2026-07-16 $14.03–$14.68 per share Range of prices for trades comprising the $14.3901 weighted-average

Price range 2026-07-17 $14.00–$14.24 per share Range of prices for trades comprising the $14.1973 weighted-average

Key Terms

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

3 terms

Rule 10b5-1 trading plan financial

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

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.

RSUs financial

"primarily to cover taxes 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.

weighted-average sale price financial

"Reflects the weighted-average sale price for shares sold in multiple transactions"

FAQ

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

What insider trades did MediaAlpha (MAX) CEO Steven Yi report in this Form 4?

Steven Yi reported two open‑market sales of Class A Common Stock totaling 94,790 shares on July 16 and 17, 2026, at weighted‑average prices of $14.3901 and $14.1973 per share under a pre‑arranged Rule 10b5‑1 trading plan.

How many MAX shares did Steven Yi sell on each date and at what prices?

On July 16, 2026, Steven Yi sold 82,457 shares at a weighted‑average price of $14.3901. On July 17, 2026, he sold 12,333 shares at a weighted‑average price of $14.1973, with each price reflecting multiple trades within stated ranges.

Does the MediaAlpha (MAX) Form 4 indicate trades under a Rule 10b5-1 plan?

Yes. The filing states the sales were made under a Rule 10b5‑1 trading plan previously adopted by Steven Yi, used primarily to cover taxes arising from the vesting of RSUs, indicating the transactions were pre‑planned rather than discretionary in timing.

How many MediaAlpha (MAX) shares does Steven Yi still own after these sales?

Following the July 17, 2026 transaction, Steven Yi directly owns 2,459,690 shares of MediaAlpha Class A common stock. This figure reflects his post‑transaction holdings after selling a combined 94,790 shares across the two reported trading days.

Were the MediaAlpha (MAX) insider sales executed at single prices or over ranges?

Each reported per‑share figure is a weighted‑average sale price from multiple trades. For July 16, 2026, trades occurred between $14.03 and $14.68 per share; for July 17, 2026, trades ranged between $14.00 and $14.24 per share.

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

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Accepted by SEC EDGAR 07/17/2026 - 08:45 PM EDT 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)
07/16/2026

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	07/16/2026		S(1)		82,457	D	$14.3901(2)	2,472,023	D
Class A Common Stock	07/17/2026		S(1)		12,333	D	$14.1973(3)	2,459,690	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 $14.03 to $14.68 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 $14.00 to $14.24 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	07/17/2026
	** 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)