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MediaAlpha (MAX) director sells shares under Rule 10b5-1 plan

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

MediaAlpha, Inc. director and officer Steven Yi reported selling a total of 43,721 shares of Class A common stock in open-market transactions. He sold 17,254 shares on July 6, 2026 at a weighted-average price of $14.0131 and 26,467 shares on July 7, 2026 at a weighted-average price of $14.0723. The filing states these sales were made under a pre-arranged Rule 10b5-1 trading plan primarily to cover taxes from vesting RSUs. After these transactions, Yi directly holds 2,715,969 shares of MediaAlpha Class A common stock.

Positive

  • None.

Negative

  • None.
Insider Yi Steven
Role See Remarks
Sold 43,721 shs ($614K)
Type Security Shares Price Value
Sale Class A Common Stock 26,467 $14.0723 $372K
Sale Class A Common Stock 17,254 $14.0131 $242K
Holdings After Transaction: Class A Common Stock — 2,715,969 shares (Direct, null)
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 $14.05 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 $14.29 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.
Shares sold July 6, 2026 17,254 shares Open-market sale of Class A Common Stock at $14.0131
Shares sold July 7, 2026 26,467 shares Open-market sale of Class A Common Stock at $14.0723
Total shares sold 43,721 shares Combined July 6–7, 2026 open-market sales
Holding after transactions 2,715,969 shares Direct ownership of Class A Common Stock following July 7, 2026 sale
Price ranges $14.00–$14.29 per share Weighted-average prices based on multiple trades over two days
Rule 10b5-1 trading plan regulatory
"sales 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"
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.
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Form 4 Insider Transactions: What Each Field Means →

FAQ

What insider transactions did MediaAlpha (MAX) report for Steven Yi?
MediaAlpha reported that director and officer Steven Yi sold 43,721 shares of Class A common stock in two open-market transactions, executed on July 6 and July 7, 2026, at weighted-average prices slightly above $14 per share.

How many MediaAlpha (MAX) shares did Steven Yi sell on each date?
Steven Yi sold 17,254 MediaAlpha Class A shares on July 6, 2026, at a weighted-average price of $14.0131, and 26,467 shares on July 7, 2026, at a weighted-average price of $14.0723, according to the Form 4 insider filing.

Was Steven Yi’s MediaAlpha (MAX) share sale executed under a Rule 10b5-1 plan?
Yes. The Form 4 states that Steven Yi’s sales were executed under a previously adopted Rule 10b5-1 trading plan, put in place primarily to cover taxes arising from the vesting of restricted stock units, indicating the trades were pre-arranged.

What is Steven Yi’s remaining MediaAlpha (MAX) share ownership after these sales?
After the reported transactions, Steven Yi directly owns 2,715,969 shares of MediaAlpha Class A common stock. This post-transaction holding reflects his remaining direct equity position following the combined sale of 43,721 shares in early July 2026.

What price range did Steven Yi’s MediaAlpha (MAX) trades cover?
The filing notes that the reported prices are weighted averages for multiple trades. Transactions on July 6 occurred between $14.00 and $14.05 per share, while trades on July 7 were executed between $14.00 and $14.29 per share, with full details available on request.
SEC Form 4
FORM 4UNITED 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)
XDirector10% Owner
XOfficer (give title below)Other (specify below)
See Remarks
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
07/06/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Class A Common Stock07/06/2026S(1)17,254D$14.0131(2)2,742,436D
Class A Common Stock07/07/2026S(1)26,467D$14.0723(3)2,715,969D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount 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 $14.05 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 $14.29 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. Coyne07/08/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR