Earnings Feed
Start Free
MediaAlpha, Inc.·4

Mar 17, 9:17 PM ET

Cramer Keith 4

Research Summary

AI-generated summary

Updated

MediaAlpha (MAX) CRO Keith Cramer Sells 10,000 Shares; Receives Awards

What Happened

  • Keith Cramer, Chief Revenue Officer of MediaAlpha (MAX), sold 10,000 shares in an open-market transaction on March 16, 2026 for a weighted-average price of $9.89 per share, producing proceeds of $98,946.
  • On March 15, 2026 he was granted equity awards: 134,600 restricted stock units (RSUs) and 44,900 performance-based restricted stock units (PRSUs). Both awards were reported as acquisitions at $0.00 (i.e., grants).

Key Details

  • Transaction dates and prices:
    • March 15, 2026: RSU grant — 134,600 RSUs (grant price $0.00).
    • March 15, 2026: PRSU grant — 44,900 PRSUs (grant price $0.00).
    • March 16, 2026: Open-market sale — 10,000 shares at a weighted-average $9.89 (range $9.81–$9.99); total proceeds $98,946.
  • Shares owned after transaction: not specified in the summary data provided; see the Form 4 for total post-transaction holdings.
  • Notable footnotes:
    • RSUs: Vesting schedule — one-sixteenth vests May 15, 2026, then quarterly over the following four years, subject to continued employment.
    • PRSUs: Performance-based, tied to Adjusted EBITDA targets for fiscal 2026–2028; one-third of the PRSUs are measured each year against threshold/target/max goals (50%/100%/200% of target), and any earned PRSUs remain subject to continued service-based vesting; eligible units would settle on March 15, 2029 upon Compensation Committee approval.
    • The March 16 sale was executed under a pre-established Rule 10b5-1 trading plan, primarily to cover taxes resulting from RSU vesting.
  • Filing timeliness: Form 4 filed March 17, 2026 for transactions on March 15–16, 2026 — appears to be filed within the required two business days (not reported as late).

Context

  • The RSU and PRSU entries are awards (contingent rights to receive shares on vesting/meeting performance goals) rather than immediate purchases — they do not represent cash outlay by the insider now.
  • The small open-market sale (10,000 shares, ~$99k) was covered by a 10b5-1 plan and is typically considered routine (e.g., to cover taxes on vesting), not necessarily an expression of long-term confidence or concern.
  • PRSUs depend on future performance targets and additional service-based vesting; their eventual conversion to shares is uncertain until performance is measured and approved.