Amy Yeh
About Amy Yeh
Amy Yeh is Chief Technology Officer (CTO) of MediaAlpha (MAX), appointed June 30, 2025, after serving as SVP, Technology since 2015; she has led engineering scale, platform reliability, and product innovation across the insurance marketplace platform . Company performance context: 2024 Adjusted EBITDA was $96.1 million and Transaction Value was $1,491.9 million (record year) ; the Company’s 2024 TSR value of a fixed $100 investment was 35.44 vs. 244.01 for the S&P 500 Information Technology Index peer group . In Q3 2025, revenue was $306.5 million (+18.3% YoY), net income $17.6 million, and adjusted EBITDA $29.1 million .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| MediaAlpha | SVP, Technology | 2015–2025 | Scaled engineering organization, drove product innovation, improved platform reliability, enabled operational scale |
| MediaAlpha | CTO | 2025–present | Oversees technology strategy and execution; focus on platform evolution and engineering excellence |
Fixed Compensation
Multi-year disclosed compensation (pre-CTO promotion):
| Metric | 2019 | 2020 | 2021 |
|---|---|---|---|
| Salary ($) | 273,958 | 290,317 | 300,000 |
| Non-Equity Incentive Plan Compensation ($) | 90,000 | 114,750 | 160,000 |
| Stock Awards ($) | 162,945 | 3,619,913 | 1,019,508 |
| All Other Compensation ($) | 33,532 | 8,550 | 30,030 |
| Total ($) | 560,435 | 4,033,530 | 1,509,538 |
Notes:
- 2021 “All Other Compensation” includes reimbursement for self-employment taxes with related tax gross-ups .
Performance Compensation
2021 executive incentive plan (applied company-wide; Amy’s payout reflected this plan):
| Metric | Weighting | Threshold | Target | Maximum | Actual | Payout | Vesting/Settlement |
|---|---|---|---|---|---|---|---|
| Adjusted EBITDA | 100% | — | $68.0m | — | $58.2m | 80% of target | Cash bonus paid Q1 following year; Amy earned $160,000 |
2024 executive incentive plan (context for current program design):
| Metric | Weighting | Threshold | Target | Maximum | Actual | Payout | Vesting/Settlement |
|---|---|---|---|---|---|---|---|
| Transaction Value | 50% | $646.5m | $808.1m | $969.7m | $1,491.9m | 150% of target | NEOs’ payouts determined Q1 2025 |
| Adjusted EBITDA | 50% | $40.1m | $50.1m | $60.1m | $96.1m | 150% of target | NEOs’ payouts determined Q1 2025 |
Design features:
- No stock options; long-term incentives granted as time-based RSUs vesting quarterly; company does not grant options .
- Clawback policy adopted August 2023 covering incentive-based pay tied to financial reporting measures and stock price .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial Ownership (3/24/2022 snapshot) | Class A: 61,969 shares; Class B: 151,913 shares; plus 21,560 RSUs vesting within 60 days |
| Outstanding (12/31/2021) | Unvested RSUs: 184,969 ($2,855,921); QLH Class B-1 units: 39,943 ($616,720) |
| Vesting schedules | 62,450 RSUs granted 12/15/2021 vest in equal quarterly installments over 3 years starting 2/15/2022; 6,250 RSUs vested immediately on grant |
| Stock ownership guidelines | CTO must hold stock valued at ≥6× base salary; executives must retain 75% of net shares from award settlements until guideline met |
| Hedging/pledging | Hedging prohibited; pledging requires Audit Committee approval; none of directors/executives engaged in hedging or pledging |
| Insider selling pressure | Amy Yeh adopted a Rule 10b5-1 plan (9/9/2025) to sell up to 172,000 shares; plan ends earlier of full sale or 12/20/2026; represents ~27% of her total shares (vested+unvested) as of 9/30/2025 |
Employment Terms
Severance Compensation Agreement (Feb 2021):
| Provision | Term |
|---|---|
| Termination without cause / for good reason (no change-of-control) | 12 months base salary; prorated annual bonus (≥ six months minimum); 12 months employer-paid COBRA; standard accrued obligations; subject to release and compliance with non-compete/non-solicit/confidentiality |
| Termination within 3 months pre/12 months post change-of-control | 18 months base salary; prorated bonus (≥ six months minimum); 18 months employer-paid COBRA; full vesting of time-based equity awards; lump-sum payment of base salary and prorated bonus upon change-of-control |
| Equity | Full vesting of time-based RSUs upon qualifying CoC termination; withheld distributions under QL Holdings LLC paid upon qualifying terminations |
| Clawback/Recovery | Incentive-based compensation recovery policy adopted Aug 2023; plus plan-level clawbacks for misconduct contributing to restatements |
| Non-compete/Non-solicit | Required for severance eligibility (agreement includes noncompetition, nonsolicitation, and confidentiality covenants) |
Track Record and Execution Signals
- Recognized for SOX 404(b) implementation: awarded $100,000 vested Class A shares in late 2021 and $1,000,000 RSU grant vesting over 3 years for retention and performance .
- Leadership impact: scaled engineering teams, strengthened reliability, and advanced product innovation enabling operational scale for MediaAlpha’s marketplaces .
Compensation Committee Design and Benchmarking
- 2024 peer group used for benchmarking includes CarGurus, Magnite, PubMatic, Yelp, LendingTree, QuinStreet, ZipRecruiter, NerdWallet, TripAdvisor, and others; target pay positioning evaluated vs. peer percentiles without hard benchmarking .
- Pay-for-performance philosophy; no single-trigger CoC acceleration for NEOs; no excise tax gross-ups .
Investment Implications
- Insider selling overhang: a pre-established 10b5-1 plan to sell up to 172,000 shares (~27% of Amy’s total holdings) through as late as December 20, 2026 may create episodic supply pressure, particularly around scheduled sales windows .
- Alignment safeguards: CTO ownership guideline (≥6× salary), mandatory net-share retention, anti-hedging/controlled pledging, and clawback coverage support pay-performance alignment and reduce governance risk .
- RSU-heavy structure: ongoing quarterly vesting creates predictable supply; absence of options reduces repricing risk; equity acceleration is double-trigger (CoC+termination), limiting windfalls absent a transaction and role displacement .
- Execution credibility: documented engineering leadership and 2021 performance recognition, plus strong 2024 company KPI outperformance (Transaction Value and Adjusted EBITDA) suggest operational rigor; however, 2024 TSR significantly lagged peer group, framing expectations for tech-led improvement under the new CTO .