MediaAlpha, Inc. (MAX) insider sells 161,489 shares in tax plan

Rhea-AI Filing Summary

MediaAlpha, Inc. director and officer Steven Yi reported open-market sales of a total of 161,489 shares of Class A Common Stock on July 13–15, 2026, in the $14.00–$14.37 per share range. The sales were made under a previously adopted Rule 10b5-1 trading plan primarily to cover taxes from the vesting of RSUs, and he continues to hold 2,554,480 shares directly.

Insider Trade Summary 10b5-1

Net Seller: 161,489 shares ($2,282,519)

Net Sell 3 txns

Insider Yi Steven

Role See Remarks

Sold 161,489 shs ($2.28M)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	114,292	$14.1665	$1.62M
Sale	Class A Common Stock	37,701	$14.0581	$530K
Sale	Class A Common Stock	9,496	$14.0477	$133K

Holdings After Transaction: Class A Common Stock — 2,554,480 shares (Direct)

Footnotes (1)

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. Reflects the weighted-average sale price for shares sold in multiple transactions at prices ranging from $14.00 to $14.09 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. Reflects the weighted-average sale price for shares sold in multiple transactions at prices ranging from $14.00 to $14.15 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. Reflects the weighted-average sale price for shares sold in multiple transactions at prices ranging from $14.00 to $14.37 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

Total shares sold: 161489 shares Sale on 2026-07-13: 9496 shares at $14.0477 Sale on 2026-07-14: 37701 shares at $14.0581 +3 more

6 metrics

Total shares sold 161489 shares Aggregate open-market sales on July 13–15, 2026

Sale on 2026-07-13 9496 shares at $14.0477 Class A Common Stock open-market sale

Sale on 2026-07-14 37701 shares at $14.0581 Class A Common Stock open-market sale

Sale on 2026-07-15 114292 shares at $14.1665 Class A Common Stock open-market sale

Shares held after transactions 2554480 shares Directly held Class A Common Stock following July 15, 2026 sale

Price range of sales $14.00–$14.37 per share Weighted-average sale price ranges across multiple transactions

Key Terms

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

3 terms

Rule 10b5-1 trading plan regulatory

"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"

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/15/2026 - 07:10 PM Accepted by SEC EDGAR 07/15/2026 - 07:09 PM Learn about SEC filing dates

FAQ

What insider stock sales did MediaAlpha (MAX) report for Steven Yi?

MediaAlpha (MAX) reported that director and officer Steven Yi sold a total of 161,489 Class A shares in open-market transactions on July 13–15, 2026, at prices in the $14.00–$14.37 range under a pre-established trading plan.

Were the recent MediaAlpha (MAX) insider sales by Steven Yi part of a Rule 10b5-1 plan?

Yes. The filing states the sales were effected pursuant to a Rule 10b5-1 trading plan previously adopted by Steven Yi, primarily to cover taxes from RSU vesting, indicating the trades were pre-arranged rather than discretionary market timing.

How many MediaAlpha (MAX) shares does Steven Yi hold after the reported sales?

After these transactions, Steven Yi directly holds 2,554,480 shares of MediaAlpha Class A Common Stock. This figure reflects his position following the final sale on July 15, 2026, as reported in the Form 4 filing’s post-transaction holdings data.

What were the individual trade sizes and prices in the MediaAlpha (MAX) Form 4?

The Form 4 shows Yi sold 9,496 shares at $14.0477 on July 13, 37,701 shares at $14.0581 on July 14, and 114,292 shares at $14.1665 on July 15, all as open-market sales of Class A Common Stock.

Why does the MediaAlpha (MAX) filing mention RSUs and taxes in relation to Steven Yi’s sales?

The filing explains the trades were made primarily to cover taxes arising from the vesting of RSUs. This indicates the sales were linked to equity compensation tax obligations rather than solely to reduce Yi’s economic exposure to MediaAlpha shares.

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)
07/13/2026

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	07/13/2026		S(1)		9,496	D	$14.0477(2)	2,706,473	D
Class A Common Stock	07/14/2026		S(1)		37,701	D	$14.0581(3)	2,668,772	D
Class A Common Stock	07/15/2026		S(1)		114,292	D	$14.1665(4)	2,554,480	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 $14.00 to $14.09 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 $14.15 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.

4. Reflects the weighted-average sale price for shares sold in multiple transactions at prices ranging from $14.00 to $14.37 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	07/15/2026
	** 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)