MediaAlpha (MAX) GC Jeffrey B. Coyne Sells Shares

What Happened
Jeffrey B. Coyne, General Counsel and Secretary of MediaAlpha (MAX), sold 5,000 shares in an open-market transaction on Feb 13, 2026 for a total of $36,523 (weighted average ~$7.30/share). On Feb 15, 2026, 6,544 restricted stock units (RSUs) were reported as converted/vested into shares; the filing also shows multiple share dispositions reported to cover tax obligations (several lots withheld/returned to the issuer or disposed).

Key Details

• Transaction dates and prices:
  • Feb 13, 2026: Open-market sale — 5,000 shares at a weighted-average price of ~$7.30/share for $36,523 (sales ranged $7.24–$7.40 per footnote).
  • Feb 15, 2026: Conversion/vesting of 6,544 RSUs (reported as exercise/conversion of derivative at $0.00).
  • Feb 15, 2026: Shares withheld/disposed to cover tax liabilities in multiple lots (1,994; 2,261; 1,794; 3,233 shares) reported at $7.17/share (amounts shown on the form: $14,297; $16,211; $12,863; $23,181).
  • The form also reports related derivative conversion/disposition entries tied to the RSU settlement.
• Shares owned after the transactions: Not specified in the summary information provided here (check the full Form 4 for post-transaction holdings).
• Notable footnotes:
  • Sales were effected under a Rule 10b5-1 trading plan primarily to cover taxes from RSU vesting (F1).
  • RSUs convert one-for-one into Class A common stock on vesting (F3); some withholdings represent automatic issuer withholding to satisfy tax obligations (F4, F5).
  • RSU grant and vesting schedule referenced (granted Mar 15, 2022; partial vesting May 15, 2022 and quarterly thereafter) (F6, F7).
• Filing timeliness: Form filed Feb 17, 2026. No late filing is indicated in the materials provided.

Context
The Feb 15 entries reflect RSU vesting/settlement rather than a market purchase. Shares were withheld or disposed to meet tax withholding obligations (a common administrative step often called a “cashless” or share-withholding settlement). The Feb 13 sale was carried out under a pre-established 10b5-1 plan and appears intended to help cover tax obligations rather than to indicate a new directional bet on the stock.