MediaAlpha CTO sells shares, exercises RSUs

MediaAlpha, Inc. Chief Technology Officer Yeh Kuanling Amy reported a mix of stock sales and RSU vesting-related exercises.

Rhea-AI Filing Summary

MediaAlpha, Inc. Chief Technology Officer Yeh Kuanling Amy reported a mix of stock sales and RSU vesting-related exercises. On May 15, 2026, she sold 12,000 shares of Class A Common Stock in open-market transactions at a weighted-average price of $8.0533 per share, executed under a pre-arranged Rule 10b5-1 trading plan primarily to cover taxes from RSU vesting.

On the same date, Restricted Stock Units converted into a total of 10,106 shares of Class A Common Stock for no cash consideration, reflecting routine equity compensation vesting. After these transactions, she directly holds 580,182 shares of Class A Common Stock and 15,910 RSUs, indicating that the sale represents a small portion of her overall equity position.

Insider Trade Summary 10b5-1

Exercise and sale activity reported; no spread calculated

Exercise and Sale 5 txns

Insider Yeh Kuanling Amy

Role Chief Technology Officer

Sold 12,000 shs ($97K)

Approx. gross sale proceeds $97K

Approx. exercise cost $0.00

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	5,303	$0.00	$0.00
Exercise	Restricted Stock Units	4,803	$0.00	$0.00
Exercise	Class A Common Stock	5,303	$0.00	$0.00
Exercise	Class A Common Stock	4,803	$0.00	$0.00
Sale	Class A Common Stock	12,000	$8.0533	$97K

Holdings After Transaction: Restricted Stock Units — 49,532 contracts (Direct); Class A Common Stock — 572,985 shares (Direct)

Footnotes (7)

1. F1. One share of Class A Common Stock was issued upon the vesting of each Restricted Stock Unit ("RSU").
2. F2. 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.
3. F3. Reflects the weighted-average sale price for shares sold in multiple transactions at prices ranging from $7.95 to $8.19 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. Represents RSUs granted under the Issuer's Omnibus Equity Incentive Plan on March 15, 2023.
5. F5. One sixteenth of the RSUs vested on May 15, 2023 and the remainder will vest quarterly over the following four years, in each case subject to continued employment with the Issuer through each vesting date.
6. F6. Represents RSUs granted under the Issuer's Omnibus Equity Incentive Plan on March 15, 2024.
7. F7. One sixteenth of the RSUs vested on May 15, 2024 and the remainder will vest quarterly over the following four years, in each case subject to continued employment with the Issuer through each vesting date.

Key Figures

Shares sold: 12,000 shares Weighted-average sale price: $8.0533 per share Shares from RSU vesting: 10,106 shares +2 more

5 metrics

Shares sold 12,000 shares Class A Common Stock sold on May 15, 2026

Weighted-average sale price $8.0533 per share Open-market sales in range $7.95–$8.19

Shares from RSU vesting 10,106 shares Class A shares issued upon RSU conversion

Shares held after transactions 580,182 shares Direct Class A Common Stock holding post-transaction

RSUs remaining 15,910 RSUs Unvested/undelivered RSUs after May 15, 2026

Key Terms

Rule 10b5-1 trading plan, Restricted Stock Units, Omnibus Equity Incentive Plan, weighted-average sale price

4 terms

Rule 10b5-1 trading plan regulatory

"The sales reported on this Form 4 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.

Restricted Stock Units financial

"One share of Class A Common Stock was issued upon the vesting of each Restricted Stock Unit ("RSU")."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Omnibus Equity Incentive Plan financial

"Represents RSUs granted under the Issuer's Omnibus Equity Incentive Plan on March 15, 2023."

A single, company-wide plan that lets a business grant different kinds of stock-based pay — such as stock options, shares that vest over time, or other equity awards — to employees, directors and consultants. It matters to investors because it determines how much of the company can be paid out in shares, how quickly those shares enter the market, and how well employees are motivated to grow the business; think of it as a toolbox or menu for paying with ownership stakes that can dilute existing holders and affect company performance.

weighted-average sale price financial

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

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

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 05/19/2026 - 04:40 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^*

Yeh Kuanling Amy

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Technology Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/15/2026

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	05/15/2026		M		5,303	A	$0(1)	580,182	D
Class A Common Stock	05/15/2026		M		4,803	A	$0(1)	584,985	D
Class A Common Stock	05/15/2026		S(2)		12,000	D	$8.0533(3)	572,985	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
Restricted Stock Units	(4)	05/15/2026		M			5,303	(5)	(5)	Class A Common Stock	5,303	$0	15,910	D
Restricted Stock Units	(6)	05/15/2026		M			4,803	(7)	(7)	Class A Common Stock	4,803	$0	33,622	D

Explanation of Responses:

1. One share of Class A Common Stock was issued upon the vesting of each Restricted Stock Unit ("RSU").

2. 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.

3. Reflects the weighted-average sale price for shares sold in multiple transactions at prices ranging from $7.95 to $8.19 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. Represents RSUs granted under the Issuer's Omnibus Equity Incentive Plan on March 15, 2023.

5. One sixteenth of the RSUs vested on May 15, 2023 and the remainder will vest quarterly over the following four years, in each case subject to continued employment with the Issuer through each vesting date.

6. Represents RSUs granted under the Issuer's Omnibus Equity Incentive Plan on March 15, 2024.

7. One sixteenth of the RSUs vested on May 15, 2024 and the remainder will vest quarterly over the following four years, in each case subject to continued employment with the Issuer through each vesting date.

Remarks:

	/s/ Jeffrey B. Coyne	05/19/2026
	** 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)