MediaAlpha director sells 12,000 shares under plan

MediaAlpha, Inc. director and officer Steven Yi reported selling a total of 12,000 shares of Class A common stock in open-market transactions over three days.

Rhea-AI Filing Summary

MediaAlpha, Inc. director and officer Steven Yi reported selling a total of 12,000 shares of Class A common stock in open-market transactions over three days. The shares were sold at weighted-average prices of about $9.07, $9.47 and $9.68 per share.

According to the filing, these sales were made under a pre-arranged Rule 10b5-1 trading plan primarily to cover taxes from vesting restricted stock units. After these transactions, Yi continues to directly own 3,007,247 shares of MediaAlpha Class A common stock.

Insider Trade Summary 10b5-1

Net Seller: 12,000 shares

Net Sell 3 txns

Insider Yi Steven

Role See Remarks

Sold 12,000 shs ($113K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	4,000	$9.6831	$39K
Sale	Class A Common Stock	4,000	$9.4701	$38K
Sale	Class A Common Stock	4,000	$9.0697	$36K

Holdings After Transaction: Class A Common Stock — 3,007,247 shares (Direct)

Footnotes (4)

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 $9.00 to $9.15 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.
3. F3. Reflects the weighted-average sale price for shares sold in multiple transactions at prices ranging from $9.25 to $9.62 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. F4. Reflects the weighted-average sale price for shares sold in multiple transactions at prices ranging from $9.46 to $9.74 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: 12,000 shares Shares sold per day: 4,000 shares Sale price 2026-04-13: $9.0697 per share +4 more

7 metrics

Total shares sold 12,000 shares Net open-market sales reported in this Form 4

Shares sold per day 4,000 shares Sold on each of April 13, 14, and 15, 2026

Sale price 2026-04-13 $9.0697 per share Weighted-average sale price for 4,000 shares

Sale price 2026-04-14 $9.4701 per share Weighted-average sale price for 4,000 shares

Sale price 2026-04-15 $9.6831 per share Weighted-average sale price for 4,000 shares

Post-transaction holdings 3,007,247 shares Direct Class A common stock held after the sales

Net share direction 12,000 shares sold transactionSummary netBuySellShares and net-sell direction

Key Terms

Rule 10b5-1 trading plan, RSUs, weighted-average sale price, open-market sale, +1 more

5 terms

Rule 10b5-1 trading plan regulatory

"sales reported on this Form 4 were 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.

RSUs financial

"plan previously adopted by the Reporting Person 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"

open-market sale financial

"transaction_action":"open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Class A Common Stock financial

"security_title":"Class A Common Stock""

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

FAQ

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

What insider transaction did Steven Yi report at MediaAlpha (MAX)?

Steven Yi reported selling 12,000 shares of MediaAlpha Class A common stock in three open-market transactions. The sales occurred on separate days at prices around $9 to $9.70 per share, and were executed under a pre-arranged Rule 10b5-1 trading plan.

Over what dates did Steven Yi sell MediaAlpha (MAX) shares and how many each day?

Steven Yi sold 4,000 MediaAlpha Class A shares on each of three days. The reported transaction dates were April 13, April 14, and April 15, 2026, for a cumulative total of 12,000 shares sold through open-market transactions.

What prices did Steven Yi receive for his MediaAlpha (MAX) share sales?

The reported weighted-average sale prices were $9.0697, $9.4701, and $9.6831 per share. Footnotes explain each figure reflects multiple trades within ranges from $9.00 to $9.74 per share, with full price breakdowns available upon request to the company or regulators.

Why were Steven Yi’s MediaAlpha (MAX) share sales executed under a Rule 10b5-1 plan?

The filing states the sales were effected under a previously adopted Rule 10b5-1 trading plan. It explains the plan was primarily intended to cover taxes arising from the vesting of restricted stock units, making these transactions largely tax-related rather than purely discretionary trades.

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

After completing the reported transactions, Steven Yi directly owns 3,007,247 shares of MediaAlpha Class A common stock. This indicates the 12,000 shares sold under the Rule 10b5-1 trading plan represent a small portion of his overall direct shareholdings.

Were Steven Yi’s MediaAlpha (MAX) share sales discretionary or pre-planned?

The Form 4 notes that all reported sales were made pursuant to a previously adopted Rule 10b5-1 trading plan. Such plans are set up in advance, which means the timing of individual trades is pre-planned rather than based on ad hoc, discretionary decisions by the insider.

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

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Accepted by SEC EDGAR 04/15/2026 - 06:02 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)
04/13/2026

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	04/13/2026		S(1)		4,000	D	$9.0697(2)	3,015,247	D
Class A Common Stock	04/14/2026		S(1)		4,000	D	$9.4701(3)	3,011,247	D
Class A Common Stock	04/15/2026		S(1)		4,000	D	$9.6831(4)	3,007,247	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 $9.00 to $9.15 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.

3. Reflects the weighted-average sale price for shares sold in multiple transactions at prices ranging from $9.25 to $9.62 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 $9.46 to $9.74 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	04/15/2026
	** 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)