MAXMediaAlpha, Inc. · Insider ownership research

MediaAlpha, Inc. insiders sold $32.5M in the past 12 months. How much of their stake is that?

100.0% was sold under disclosed trading plans. The largest seller, Eugene Nonko (Director), sold $16.3M.Share-of-stake figures for this company are being verified and will be added when that check is finished. Why

Updated Oct 16, 2026 from SEC filings · covers Oct 17, 2025 to Oct 16, 2026

$9K

sold with no plan disclosed, past 12 months

100.0%

of sales were under disclosed trading plans, past 12 months

5 of 13

officers and directors sold shares, past 12 months

Is this normal? More than usual: $32.5M sold, after almost none in the past 4 years. 5 insiders sold; the average is 3 a year. Year by year

Latest filing: Filed Oct 14 for a sale from Oct 12 to Oct 14. Eugene Nonko sold 23K shares ($237K) to cover taxes on vesting stock. Filing

SEC ownership filings: 121 filed in the 12 months to Oct 16, 2026; 459 on record since Oct 28, 2020 · See the evidence

What stands out

Routine activity: 100.0% of sales were under disclosed plans, and no insider sold more than 1% of vested holdings.

A share of stake is shown for 0 of the 5 officers and directors who sold. 13 are left out

i

Left out: Steven Yi, Eugene Nonko, Patrick Thompson, Kuanling Yeh, Jeffrey Coyne, Keith Cramer, Kathy Vrabeck, Venmal Arasu, Lara Sweet, Bradley Hunt, Tigran Sinanyan, Ramon Jones and Lauren StClair (share of stake is being verified).

Disclosed company stock is not an insider's whole wealth.

Who sold, and how much of their stake

Officers and directors, past 12 months. Their share of stake is being verified and is not shown yet; amounts and trading plans are below.

Eugene Nonko

Director

Not confirmed

Share of stake not shown: share of stake is being verified. Why

$16.3M99.9% planned 0.1% no plan disclosed

Steven Yi

Chief Executive Officer, President, and Co-Founder, Director

Not confirmed

Share of stake not shown: share of stake is being verified. Why

$13.8MDisclosed plan

Keith Cramer

Chief Revenue Officer

Not confirmed

Share of stake not shown: share of stake is being verified. Why

$1.2MDisclosed plan

Kuanling Yeh

Chief Technology Officer

Not confirmed

Share of stake not shown: share of stake is being verified. Why

$1.0MDisclosed plan

Jeffrey Coyne

General Counsel and Secretary

Not confirmed

Share of stake not shown: share of stake is being verified. Why

$143KDisclosed plan

Amounts, filings and trading plans for each seller

Selling by month

Officers and directors, Oct 2025 to Oct 2026. Each sale is counted once: under a disclosed plan, else to cover taxes, else no plan disclosed.

Disclosed planNo plan disclosedOne dollar scale for every month; the tallest bar is labeled

Recent activity

Past 30 days, Sep 17, 2026 to Oct 16, 2026

Oct 14, 2026Eugene Nonko sold 7.7K shares ($80K) to cover taxes on vesting stock.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Eugene Nonko Director Also under a disclosed plan	7,734	$10.38	n/a	n/a	Oct 14, 2026	Oct 14, 2026

Oct 13, 2026Eugene Nonko sold 7.7K shares ($78K) to cover taxes on vesting stock.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Eugene Nonko Director Also under a disclosed plan	7,734	$10.11	n/a	n/a	Oct 13, 2026	Oct 14, 2026

Oct 12, 2026Eugene Nonko sold 7.7K shares ($78K) to cover taxes on vesting stock.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Eugene Nonko Director Also under a disclosed plan	7,734	$10.15	n/a	n/a	Oct 12, 2026	Oct 14, 2026

Oct 9, 2026Steven Yi sold 2K shares ($22K) to cover taxes on vesting stock.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Steven Yi Chief Executive Officer, President, and Co-Founder, Director Also under a disclosed plan	2,033	$11.01	n/a	n/a	Oct 9, 2026	Oct 9, 2026

Oct 8, 2026Steven Yi sold 24K shares ($241K) to cover taxes on vesting stock.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Steven Yi Chief Executive Officer, President, and Co-Founder, Director Also under a disclosed plan	24,000	$10.04	n/a	n/a	Oct 8, 2026	Oct 9, 2026

Show all 9 events

Oct 1, 2026Tigran Sinanyan had 1.1K shares ($10K) withheld by the company for taxes (not a market sale). 24K shares came in from vesting or option exercises the same day, so the holding rose by 23K net.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Tigran Sinanyan Chief Financial Officer and Treasurer	1,088	$9.57	n/a	n/a	Oct 1, 2026	Oct 2, 2026

Sep 25, 2026Kuanling Yeh sold 3K shares ($28K) to cover taxes on vesting stock.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Kuanling Yeh Chief Technology Officer Also under a disclosed plan	3,000	$9.40	n/a	n/a	Sep 25, 2026	Sep 25, 2026

Sep 22, 2026Eugene Nonko sold 7.7K shares ($83K) to cover taxes on vesting stock.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Eugene Nonko Director Also under a disclosed plan	7,734	$10.78	n/a	n/a	Sep 22, 2026	Sep 23, 2026

Sep 21, 2026Eugene Nonko sold 7.7K shares ($81K) to cover taxes on vesting stock.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Eugene Nonko Director Also under a disclosed plan	7,734	$10.53	n/a	n/a	Sep 21, 2026	Sep 23, 2026

"% of total stake" is the shares in an event against all the vested shares the person held that day, across every share class and holding entity, after that day's vesting. "n/a" means the person's holdings are not confirmed, or the row is a purchase. "Holdings record incomplete" means more shares were sold than the filings show the person held that day, so a percentage would be wrong.

Common questions

Is the MediaAlpha, Inc. CEO selling stock?

Yes. Steven Yi sold 1.15M shares ($13.8M) in the past 12 months, all of it under a trading plan disclosed in the filings.

Why are MediaAlpha, Inc. insiders selling?

Filings rarely give a reason, and we don't guess at one. What they show is how the sales were made: 100.0% of sales by value ran under 10b5-1 trading plans disclosed in the filings and 0.0% had no disclosed plan. A trading plan schedules sales in advance.

Are any MediaAlpha, Inc. insiders buying?

No. Officers and directors reported no purchases in the past 12 months.

The evidence

Who sold5 officers and directors: amount, % of holdings, trading plan

Who sold	Amount	% of holdings	Trading plan
Eugene Nonko Director	$16.3M 1.39M shares	Not confirmed share of stake is being verified. Why	99.9% under a disclosed plan 0.1% no plan disclosed
Steven Yi Chief Executive Officer, President, and Co-Founder, Director	$13.8M 1.15M shares	Not confirmed share of stake is being verified. Why	Disclosed plan
Keith Cramer Chief Revenue Officer	$1.2M 115K shares	Not confirmed share of stake is being verified. Why	Disclosed plan
Kuanling Yeh Chief Technology Officer	$1.0M 91K shares	Not confirmed share of stake is being verified. Why	Disclosed plan
Jeffrey Coyne General Counsel and Secretary	$143K 15K shares	Not confirmed share of stake is being verified. Why	Disclosed plan

The full ownership picture0 of 13 officers and directors confirmed

Vested shares across all share classes, held directly and through trusts, LLCs and family members, as reported on SEC Forms 3, 4 and 5. Unvested awards and options are never counted as owned shares.

Insider	Held Oct 16, 2025	Sold	Held Oct 16, 2026	Still held
Steven Yi ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Steven Yi are complete. Chief Executive Officer, President, and Co-Founder, Director	n/a	−1.15M	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Steven Yi Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Steven Yi are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts)
Eugene Nonko ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Eugene Nonko are complete. Director	n/a	−1.39M	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Eugene Nonko Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Eugene Nonko are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts)
Patrick Thompson ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Patrick Thompson are complete. Chief Financial Officer and Treasurer	n/a	0	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Patrick Thompson Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Patrick Thompson are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts) −78Kwithheld by the company for taxes
Kuanling Yeh ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Kuanling Yeh are complete. Chief Technology Officer	n/a	−91K	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Kuanling Yeh Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Kuanling Yeh are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts)
Jeffrey Coyne ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Jeffrey Coyne are complete. General Counsel and Secretary	n/a	−15K	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Jeffrey Coyne Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Jeffrey Coyne are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts) −46Kwithheld by the company for taxes
Keith Cramer ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Keith Cramer are complete. Chief Revenue Officer	n/a	−115K	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Keith Cramer Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Keith Cramer are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts)
Kathy Vrabeck ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Kathy Vrabeck are complete. Director	n/a	0	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Kathy Vrabeck Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Kathy Vrabeck are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts)
Venmal Arasu ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Venmal Arasu are complete. Director	n/a	0	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Venmal Arasu Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Venmal Arasu are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts)
Lara Sweet ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Lara Sweet are complete. Director	n/a	0	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Lara Sweet Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Lara Sweet are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts)
Bradley Hunt ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Bradley Hunt are complete. Director	n/a	0	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Bradley Hunt Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Bradley Hunt are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts)
Tigran Sinanyan ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Tigran Sinanyan are complete. Chief Financial Officer and Treasurer	n/a	0	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Tigran Sinanyan Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Tigran Sinanyan are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts) −1.1Kwithheld by the company for taxes
Ramon Jones ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Ramon Jones are complete. Director	n/a	0	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Ramon Jones Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Ramon Jones are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts)
Lauren StClair ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Lauren StClair are complete. Director	n/a	0	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Lauren StClair Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Lauren StClair are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts)

Holdings and share of stake for MediaAlpha, Inc. are being verified, so no balances, unit counts or percentages are shown. Sales, proceeds, plan and tax status, titles and dates come straight from individual filings.

What explains the selling$32.5M of sales by plan status, purpose, seller and month

Officer and director open-market sales: $32.5M across 2,765,410 shares. Plan status and stated purpose are separate questions, and a sale can have both.

By plan status

Disclosed plan · $32.5M · 100.0%

0.0%

The lighter segment is sales with no plan disclosed in the filing ($9K), including tax-related sales outside a plan.

No plan disclosed · $9K

Sales with no 10b5-1 plan and no tax reference in the filing. $9K of it is Eugene Nonko. No plan disclosed is a statement about the filing, not about why the sale happened. Largest such sale: Eugene Nonko, Mar 16, 2026

Taxes

$32.5M of sales (100.0%) cite tax obligations in their footnotes, $32.5M of them also under a plan. Separately, 125,482 shares ($1.3M) were withheld by the company for taxes, which isn't a market sale. Example: Eugene Nonko, Oct 14, 2026

Seller	Shares sold	Proceeds	Under a disclosed plan	Share of total	Sales dates
Eugene Nonko Director	1.39M	$16.3M	100.0%	50%	Nov 17, 2025 to Oct 14, 2026
Steven Yi Chief Executive Officer, President, and Co-Founder, Director	1.15M	$13.8M	100%	43%	Nov 17, 2025 to Oct 9, 2026
Keith Cramer Chief Revenue Officer	115K	$1.2M	100%	4%	Dec 15, 2025 to Sep 15, 2026
Kuanling Yeh Chief Technology Officer	91K	$1.0M	100%	3%	Dec 10, 2025 to Sep 25, 2026
Jeffrey Coyne General Counsel and Secretary	15K	$143K	100%	0.4%	Dec 12, 2025 to May 15, 2026

Sales by month

Month	Sale proceeds	Disclosed plan	To cover taxes	No plan disclosed
Oct 2025	$0	$0	$0	$0
Nov 2025	$1.5M	$1.5M	$0	$0
Dec 2025	$4.3M	$4.3M	$0	$0
Jan 2026	$2.9M	$2.9M	$0	$0
Feb 2026	$1.3M	$1.3M	$0	$0
Mar 2026	$2.6M	$2.6M	$0	$9K
Apr 2026	$3.8M	$3.8M	$0	$0
May 2026	$350K	$350K	$0	$0
Jun 2026	$1.4M	$1.4M	$0	$0
Jul 2026	$9.0M	$9.0M	$0	$0
Aug 2026	$3.1M	$3.1M	$0	$0
Sep 2026	$1.9M	$1.9M	$0	$0
Oct 2026	$500K	$500K	$0	$0

Is this normal? Selling year by year4 earlier years to compare with

More than usual: $32.5M sold, after almost none in the past 4 years. 5 insiders sold; the average is 3 a year.

12 months ending	Shares sold	Insiders who sold	Proceeds
Oct 16, 2026 Latest 12 months	2.77M	5	$32.5M
Oct 16, 2025 1 year earlier	180K	4	$3.3M
Oct 16, 2024 2 years earlier	0	0	$0
Oct 17, 2023 3 years earlier	150K	2	$2.4M
Oct 17, 2022 4 years earlier	183K	6	$2.9M
Oct 17, 2021 5 years earlier · filings don't cover the whole year	5.16M	11	$106M

Open-market sales (Form 4 code S) by people who were officers or directors, in split-adjusted shares. Earlier years include people who have since left. A sale that an outside holder also reports (a family trust, a fund) is counted with outside holders in every year. Shares, not dollars, are compared, so a change in the stock price doesn't look like a change in selling. Years the filings don't fully cover are shown but left out of the average.

Known gaps and uncertainty13 officers and directors not confirmed

Holdings and share of stake are being verified. Balances, unit counts and every share-of-stake figure for MediaAlpha, Inc. are held back until that check is finished. Sales, proceeds, plan and tax status, titles and dates come straight from individual filings and are complete.

External context: we only cite outside events when a documented connection exists. None is shown for this period.

Sources and methodology459 filings on record, 121 filed in the 12-month period, and how we read them

All 459 Forms 3, 4 and 5 on record for MediaAlpha, Inc. (SEC CIK 1818383), filed from Oct 28, 2020 to Oct 14, 2026; 121 of them were filed in the 12 months this page covers, retrieved from SEC EDGAR on Oct 16, 2026. Prices are the ones reported in each filing, often weighted averages.

Holdings. Each holding line (a share class plus an owner, such as a trust or LLC) carries its last reported balance forward. Entities first reported during the period start at zero, so transfers between an insider's own trusts don't count as selling. Lines not reported for three years or more are listed separately and left out of totals.

Sales. A sale counts as under a 10b5-1 plan if its footnote cites one or the filing's Rule 10b5-1 box is checked, and as tax-related if its footnote cites tax obligations or sell-to-cover. Shares withheld by the company for taxes are listed separately. Sales with neither attribute are labeled "no plan disclosed".

Full methodology

Former or inactive filers (17)No filing in 18 months; last reported balances, not in any total

Name	Last filed	Last reported balance
INSIGNIA CAPITAL PARTNERS GP, L.L.C.	May 13, 2024	No balance on record
WHITE MOUNTAINS INSURANCE GROUP LTD	May 9, 2024	61,245,630 shares, last reported balance as of May 7, 2024
Catherine Cunningham	Feb 17, 2023	14,081 shares, last reported balance as of Feb 15, 2023
WM International Holdings Ltd	Dec 23, 2022	No balance on record
WM Birkdale, Ltd.	Dec 23, 2022	16,039,998 shares, last reported balance as of Dec 22, 2022
Bridge Holdings (Bermuda) Ltd.	Aug 26, 2022	No balance on record
Cort Carlson	Nov 24, 2021	41,441 shares, last reported balance as of Nov 15, 2021
Brian Mikalis	Nov 3, 2021	320,659 shares, last reported balance as of Nov 2, 2021
Jeff Sweetser	Nov 3, 2021	287,478 shares, last reported balance as of Nov 1, 2021
Robert Perine	Nov 3, 2021	237,670 shares, last reported balance as of Oct 30, 2021
Serge Topjian	Nov 3, 2021	302,874 shares, last reported balance as of Nov 2, 2021
Ambrose Wang	Aug 3, 2021	9,508,676 shares, last reported balance as of Jul 30, 2021
Lance Martinez	May 4, 2021	295,161 shares, last reported balance as of Apr 30, 2021
Jennifer Moyer		No balance on record
David Lowe		No balance on record
Christopher Delehanty		No balance on record
Anthony Broglio		No balance on record

Spotted something wrong on this page? Report an error. We check every report against the SEC filing and list what we fix in the corrections log.