Steven Yi - 15 Mar 2026 Form 4 Insider Report for MediaAlpha, Inc. (MAX)

Reporting relationship: Officer, Director
Issuer ticker: MAX
Reported as of: 15 Mar 2026
Net transaction value: -$91,684
SEC form: 4
Accepted by SEC: 17 Mar 2026, 21:18:41 UTC
Prior SEC filing: 11 Mar 2026
Next SEC filing: 18 Mar 2026
Source filing: View source filing
Reporting owner signature: /s/ Jeffrey B. Coyne

Key filing fact

Steven Yi filed Form 4 for MediaAlpha, Inc. (MAX) on 17 Mar 2026.

Key facts

This page summarizes Steven Yi's Form 4 filing for MediaAlpha, Inc. (MAX).
4 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 17 Mar 2026, 21:18.

Change

Previous filing in this sequence was filed on 11 Mar 2026.
Current net transaction value: -$91,684.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001829946 Primary reporting owner

Yi Steven

Relationship: Officer, Director
Address: C/O MEDIAALPHA, INC., 700 SOUTH FLOWER STREET, SUITE 640, LOS ANGELES
Signature: /s/ Jeffrey B. Coyne
Signature date: 17 Mar 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

MAX transaction

Class A Common Stock

Award

Transaction value
Shares: +448,500
Change %: +17%
Price: $0.000000^*
Shares after: 3,068,474
Date: 15 Mar 2026
Ownership: Direct
Footnotes: F1

MAX transaction

Class A Common Stock

Sale

Transaction value: $39,727
Shares: -4,000
Change %: -0.13%
Price: $9.93
Shares after: 3,064,474
Date: 16 Mar 2026
Ownership: Direct
Footnotes: F2, F3

MAX transaction

Class A Common Stock

Sale

Transaction value: $51,957
Shares: -5,227
Change %: -0.17%
Price: $9.94
Shares after: 3,059,247
Date: 17 Mar 2026
Ownership: Direct
Footnotes: F2, F4

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

MAX transaction Derivative

Performance Restricted Stock Units (2026 PRSUs)

Award

Transaction value
Shares: +149,550
Change %
Price: $0.000000^*
Shares after: 149,550
Date: 15 Mar 2026
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 149,550
Exercise price
Footnotes: F5, F6, F7

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 7 footnotes

Footnote F1

Consists of restricted stock units ("RSUs") granted to the Reporting Person under the Issuer's Omnibus Incentive Plan. Each RSU represents a contingent right to receive one share of Class A Common Stock upon vesting. One sixteenth of the RSUs will vest on May 15, 2026 and the remainder will vest quarterly over the following four years, in each case subject to continued employment with the Issuer through each vesting date.

Footnote F2

The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan previously adopted by the Reporting Person primarily to cover taxes resulting from the vesting of RSUs.

Footnote F3

Reflects the weighted-average sale price for shares sold in multiple transactions at prices ranging from $9.84 to $9.99 per share. The Reporting Person undertakes to provide upon request by the Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.

Footnote F4

Reflects the weighted-average sale price for shares sold in multiple transactions at prices ranging from $9.63 to $10.04 per share. The Reporting Person undertakes to provide upon request by the Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.

Footnote F5

Represents Performance Based Restricted Stock Units (PRSUs) granted to the Reporting Person on March 15, 2026, pursuant to the Issuer's Omnibus Equity Incentive Plan. Each PRSU represents a contingent right to receive shares of Issuer's Class A Common Stock.

Footnote F6

The PRSUs will be earned subject to achievement of Adjusted EBITDA goals for fiscal 2026, fiscal 2027, and fiscal 2028, with each fiscal year measured separately for purposes of determining PRSU vesting. One-third of the PRSU grants are tied to Adjusted EBITDA performance against pre-established threshold, target, and maximum Adjusted EBITDA goals for each fiscal year, corresponding to vesting of 50%, 100% and 200% of the target shares, respectively. Following the completion of each performance period, any earned PRSUs for that performance period will remain subject to continued service-based vesting through the end of the three-year period."

Footnote F7

If PRSUs become eligible to vest after approval from the Compensation Committee of the Board of Directors of the Issuer on the achievement of the performance measures, the eligible units will settle on March 15, 2029.