The proximity of these sales to the $12M TRA termination raises the question of whether insiders were informed of the deal's closing. While the dollar amount is small, the timing and lack of 10b5-1 plans warrant monitoring for additional insider selling in the coming weeks.
Price Chart
Executive Summary
Two MediaAlpha insiders — the Chief Revenue Officer and a Director — sold a combined $233K in open-market shares on September 15, 2026, just six days after the company paid $12M to terminate a Tax Receivable Agreement with certain sellers. The insider sales follow a material corporate transaction and may reflect informed selling, though the dollar amount is modest relative to the company's market cap.
Key Financial Metrics
Key Facts
- CRO Keith Cramer sold 13,000 shares at ~$11.49 for $149K on 2026-09-15
- Director Eugene Nonko sold 7,273 shares at ~$11.49 for $84K on 2026-09-15
- Total insider sales of $233K occurred 6 days after MediaAlpha paid $12M to terminate a Tax Receivable Agreement
- Both sales were open-market (code S) with no 10b5-1 plan indication
- The $12M TRA termination was a material agreement signed on 2026-09-09
Financial Impact
Insider sales of $233K represent approximately 0.07% of the company's market cap — a trivial amount
Risk Factors
- Insider sales may signal lack of confidence in near-term outlook
- The TRA termination could have tax or cash-flow implications not yet fully disclosed
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-MAX-1789598261711 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 4d ago | Insider Cluster | $12.41 | awaiting T+20 | — | $11.85 (−4.47%) |
Oct 13, 2026 13d ago | 144 | $10.47 | awaiting T+20 | — | $11.85 (−13.23%) |
Oct 8, 2026 17d ago | 144 | $10.09 | awaiting T+20 | — | $11.85 (+17.49%) |
Sep 23, 2026 4w ago | Insider Cluster | $9.45 $12.41 | ▲ +31.32% | ▲ +31.74% | $11.85 (+25.45%) |
Sep 16, 2026 5w ago | Insider Cluster | $10.57 $11.68 | ▼ −10.50% | ▼ −9.30% | $11.85 (−12.16%) |
Sep 10, 2026 6w ago | Insider Cluster | $11.65 $10.09 | ▲ +13.39% | ▲ +15.26% | $11.85 (−1.76%) |
Sep 9, 2026 6w ago | Insider Cluster | $11.74 $10.68 | ▼ −9.03% | ▼ −11.15% | $11.85 (+0.98%) |
Sep 3, 2026 7w ago | 8-K / PRESS-RELEASE | $12.22 $9.62 | ▼ −21.28% | ▼ −20.09% | $11.85 (−2.99%) |
Sep 2, 2026 7w ago | Insider Cluster | $12.22 $9.62 | ▼ −21.28% | ▼ −20.09% | $11.85 (−2.99%) |
Aug 26, 2026 8w ago | Insider Cluster | $12.57 $9.33 | ▼ −25.78% | ▼ −25.67% | $11.85 (−5.69%) |
US Market Status
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