Yi Steven 4

What Happened

• Yi Steven, Chief Executive Officer, President and Co‑Founder of MediaAlpha (MAX), converted 18,294 restricted stock units (RSUs) into 18,294 shares on 2026-02-15 (transaction code M — exercise/conversion of a derivative). The filing also shows an immediate disposition of 18,294 shares on the same date. Both the acquisition and disposition are reported at $0.00, so no cash value is shown in the report.

Key Details

• Transaction date: 2026-02-15; filing date (Form 4): 2026-02-17 (timely — within the Form 4 reporting window).
• Acquired: 18,294 shares @ $0.00 (conversion of RSUs).
• Disposed: 18,294 shares @ $0.00 (derivative disposition reported).
• Shares owned after transaction: Not specified in the provided filing extract.
• Footnotes:
  • F1: One share issued upon vesting of each RSU.
  • F2: Each RSU represents a contingent right to one share or, at the Compensation Committee’s option, cash of equivalent value.
  • F3: RSUs vested in installments through Feb 15, 2026 (one‑sixteenth vested May 15, 2022; remainder vested quarterly through Feb 15, 2026), subject to continued employment.
• The filing does not state the reason for the immediate disposition (the report does not specify whether shares were sold, transferred, or withheld for taxes).

Context

• These entries reflect RSU vesting and conversion rather than an open‑market purchase or sale. When RSUs vest they are typically converted into shares; immediate dispositions sometimes occur for tax withholding or other administrative reasons, but the filing does not specify which occurred here.
• This transaction should be viewed as routine compensation vesting unless additional detail (e.g., a sale price or transfer recipient) is disclosed in other filings.