Yi Steven 4

What Happened Yi Steven, MediaAlpha's Chief Executive Officer, President and co‑founder, sold a total of 24,000 shares of MediaAlpha (MAX) common stock in three open-market transactions between Jan 20–22, 2026. The sales were: 8,000 shares on 2026-01-20 at $11.20 (≈ $89,634), 8,000 shares on 2026-01-21 at $11.02 (≈ $88,182), and 8,000 shares on 2026-01-22 at $11.20 (≈ $89,616), totaling about $267,432. These were outright sales (transaction code S), not purchases or option exercises.

Key Details

• Transaction dates and prices:
  • 2026-01-20: 8,000 shares @ $11.20 — $89,634
  • 2026-01-21: 8,000 shares @ $11.02 — $88,182
  • 2026-01-22: 8,000 shares @ $11.20 — $89,616
• Total shares sold: 24,000; total proceeds: ≈ $267,432.
• Reported as effected under a Rule 10b5-1 trading plan, primarily to cover taxes from the vesting of RSUs (footnote F1).
• Footnotes indicate the reported per‑day prices are weighted averages across multiple executions and provide price ranges (F2–F4); the filer can provide per‑trade breakdowns on request.
• Shares owned after the transactions were not included in the excerpt provided.
• Filing date: 2026-01-22; filing appears timely relative to the trade dates (Form 4 is typically due within two business days).

Context

• These sales were made under a pre-established 10b5-1 plan and are described as primarily for tax coverage related to RSU vesting — a common, non‑informational reason for insider sales. Sales under 10b5-1 plans are generally considered routine and do not necessarily indicate a change in the insider’s view of the company.
• For retail investors: purchases are often seen as stronger signals of insider confidence than routine sales; this filing documents routine monetization rather than a purchase or exercise.