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MediaAlpha, Inc.·4

Mar 17, 9:18 PM ET

Yi Steven 4

Research Summary

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MediaAlpha (MAX) Director Yi Steven Receives Awards, Sells Shares

What Happened Yi Steven, a director of MediaAlpha, was granted equity awards on March 15, 2026 and also sold a small number of shares in open-market trades. The filing shows: 448,500 restricted stock units (RSUs) and 149,550 performance-based RSUs (PRSUs) were reported as acquired (both recorded at $0.00). Separately, Yi sold 4,000 shares on March 16, 2026 at about $9.93/share ($39,727) and 5,227 shares on March 17, 2026 at about $9.94/share ($51,957), for total proceeds of approximately $91,684. The sales were effected under a Rule 10b5-1 trading plan primarily to cover taxes associated with RSU vesting.

Key Details

  • Transaction dates: awards reported 2026-03-15; sales on 2026-03-16 (4,000 @ $9.93) and 2026-03-17 (5,227 @ $9.94).
  • Total awards: 598,050 units (448,500 RSUs + 149,550 PRSUs) granted on 3/15/2026, recorded at $0.00.
  • Sale proceeds: ~$91,684 (reported as $39,727 and $51,957). Sales price ranges: reported ranges of $9.84–$9.99 and $9.63–$10.04 across transactions (weighted averages disclosed).
  • Filing: Form 4 filed 2026-03-17 for period of report 2026-03-15 — appears timely.
  • Shares owned after transaction: not specified in the summary data here — see the full Form 4 for post-transaction beneficial ownership.
  • Notable footnotes: sales were under a pre-established Rule 10b5-1 plan (F2). RSUs vesting schedule: one-sixteenth vests 5/15/2026, remainder quarterly over four years (F1). PRSUs are performance-based tied to Adjusted EBITDA for FY2026–2028, with potential vesting 50%–200% of target and settlement (if earned) on 3/15/2029, subject to continued service (F5–F7).

Context RSUs and PRSUs are contingent awards — RSUs convert to shares as they vest (service-based schedule) while PRSUs are earned only if performance goals are met and may still require continued service to settle. The small open-market sales here were executed under a 10b5-1 plan to cover taxes from vesting, which is a common administrative transaction and not necessarily a directional signal about the insider’s view of the company. For exact current holdings and the full transaction breakdown, consult the complete Form 4 (Accession No. 0001818383-26-000075).