Yi Steven 4
4 · MediaAlpha, Inc. · Filed Mar 17, 2026
Research Summary
AI-generated summary of this filing
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).
Insider Transaction Report
- Award
Class A Common Stock
[F1]2026-03-15+448,500→ 3,068,474 total - Sale
Class A Common Stock
[F2][F3]2026-03-16$9.93/sh−4,000$39,727→ 3,064,474 total - Sale
Class A Common Stock
[F2][F4]2026-03-17$9.94/sh−5,227$51,957→ 3,059,247 total - Award
Performance Restricted Stock Units (2026 PRSUs)
[F5][F6][F7]2026-03-15+149,550→ 149,550 total→ Class A Common Stock (149,550 underlying)
Footnotes (7)
- [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.
- [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.
- [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.
- [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.
- [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.
- [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."
- [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.