Form 144: MediaAlpha restricted stock lapses; 40,400 shares to be sold via Schwab

Rhea-AI Filing Summary

MediaAlpha, Inc. submitted a Form 144 notice reporting a proposed sale of 40,400 shares of common stock through Charles Schwab, with an aggregate market value of $456,775. The sale is listed as occurring approximately on 08/08/2025 on the NYSE and the filing reports 56,370,303 shares outstanding, which provides scale for the transaction.

All shares to be sold were acquired as restricted stock lapses tied to equity compensation: 14,985 shares vested on 02/15/2025 and 25,415 shares vested on 05/15/2025. The filing notes no securities sold in the past three months for the selling person and includes the required representation that no material nonpublic information is known to the seller.

Positive

• Full disclosure under Rule 144: the filing identifies the broker, share count, aggregate value, and acquisition details.
• Securities were acquired as equity compensation (restricted stock lapses), not purchased in the open market, clarifying the source of shares.

Negative

• Insider proposes to sell 40,400 shares, which could be perceived negatively by some investors despite being small relative to outstanding shares.

Insights

Securities Analyst

TL;DR: This Form 144 reports a small insider sale of 40,400 shares (about 0.072% of outstanding stock), unlikely to materially affect valuation.

The filing documents a proposed sale of 40,400 shares with an aggregate market value of $456,775, executed through Charles Schwab and scheduled on the NYSE. Because the shares derive from recent restricted stock lapses and no prior sales were reported in the past three months, the transaction appears routine for equity-compensated insiders. Relative to 56.37 million shares outstanding, the sale represents roughly 0.07% of the float, which is immaterial to capitalization and liquidity metrics. Investors should note the transaction is disclosed and follows Rule 144 procedures.

Corporate Governance Expert

TL;DR: Insider sale reflects vesting of equity compensation; procedural disclosure is complete and the size is not governance-critical.

The Form 144 shows the securities were acquired via restricted stock lapse on two dates in 2025 and are being offered for sale under Rule 144. The filing includes the seller's representation about no undisclosed material information and reports no sales in the prior three months. From a governance standpoint, the disclosure aligns with standard insider reporting and does not, by itself, indicate broader management change or policy shift. The transaction appears administrative and compliant with insider-sale procedures.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Charles Schwab & Co., Inc. 3000 Schwab Way Westlake TX 76262	40400	456775.00	56370303	08/08/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	02/15/2025	Restricted Stock Lapse	MediaAlpha, Inc.			14985	02/15/2025	Equity Compensation
Common	05/15/2025	Restricted Stock Lapse	MediaAlpha, Inc.			25415	05/15/2025	Equity Compensation

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

How many shares does MediaAlpha (MAX) propose to sell under this Form 144?

The filing reports a proposed sale of 40,400 shares of common stock.

What is the aggregate market value of the shares to be sold?

The aggregate market value is reported as $456,775.

Through which broker will the shares be sold?

The filing names Charles Schwab & Co., Inc. as the broker of record.

When were the shares acquired by the seller?

The shares resulted from restricted stock lapses on 02/15/2025 (14,985 shares) and 05/15/2025 (25,415 shares).

Were there any securities sold by the seller in the past three months?

The filing states "Nothing to Report" for securities sold during the past three months.

What percentage of outstanding shares does this sale represent?

Based on the filing's 56,370,303 shares outstanding, the sale represents roughly 0.07% of outstanding shares.