MediaAlpha director Nonko sells 27,639 shares

The plan was previously adopted primarily to cover taxes resulting from RSU vesting.

Rhea-AI Filing Summary

MediaAlpha, Inc. (MAX) director Eugene Nonko reported sales totaling 27,639 Class A common shares from October 19 through October 21, 2026. On each date, 1,940 shares were sold directly and 7,273 shares through O.N.E. Holdings, LLC. The weighted-average prices for direct and LLC sales, respectively, were $11.3871 and $11.3881 on October 19, $11.6178 and $11.7238 on October 20, and $11.6343 and $11.6272 on October 21. All sales were made under a previously adopted Rule 10b5-1 plan primarily to cover taxes resulting from RSU vesting.

Insider Trade Summary 10b5-1

Net Seller: 27,639 shares

Net Sell 6 txns

Insider Nonko Eugene

Role Director

Sold 27,639 shs ($320K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock F1, F4	1,940	$11.6343	$23K
Sale	Class A Common Stock F1, F4	7,273	$11.6272	$85K
Sale	Class A Common Stock F1, F3	1,940	$11.6178	$23K
Sale	Class A Common Stock F1, F6	7,273	$11.7238	$85K
Sale	Class A Common Stock F1, F2	1,940	$11.3871	$22K
Sale	Class A Common Stock F1, F5	7,273	$11.3881	$83K

Holdings After Transaction: Class A Common Stock — 791,800 shares (Direct); Class A Common Stock — 812,730 shares (Indirect, By O.N.E. Holdings,LLC)

Footnotes (6)

1. F1. 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.
2. F2. Reflects the weighted-average sale price for shares sold in multiple transactions at prices ranging from $11.23 to $11.58 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.
3. F3. Reflects the weighted-average sale price for shares sold in multiple transactions at prices ranging from $11.445 to $11.91 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.
4. F4. Reflects the weighted-average sale price for shares sold in multiple transactions at prices ranging from $11.59 to $11.72 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.
5. F5. Reflects the weighted-average sale price for shares sold in multiple transactions at prices ranging from $11.23 to $11.59 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.
6. F6. Reflects the weighted-average sale price for shares sold in multiple transactions at prices ranging from $11.40 to $11.91 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.

Key Figures

Direct shares sold; weighted-average price: 1,940 shares at $11.3871 per share O.N.E. Holdings, LLC shares sold; weighted-average price: 7,273 shares at $11.3881 per share Direct shares sold; weighted-average price: 1,940 shares at $11.6178 per share +3 more

6 metrics

Direct shares sold; weighted-average price 1,940 shares at $11.3871 per share October 19, 2026

O.N.E. Holdings, LLC shares sold; weighted-average price 7,273 shares at $11.3881 per share October 19, 2026

Direct shares sold; weighted-average price 1,940 shares at $11.6178 per share October 20, 2026

O.N.E. Holdings, LLC shares sold; weighted-average price 7,273 shares at $11.7238 per share October 20, 2026

Direct shares sold; weighted-average price 1,940 shares at $11.6343 per share October 21, 2026

O.N.E. Holdings, LLC shares sold; weighted-average price 7,273 shares at $11.6272 per share October 21, 2026

Key Terms

Rule 10b5-1 trading plan, RSUs, weighted-average sale price

3 terms

Rule 10b5-1 trading plan regulatory

"pursuant to a Rule 10b5-1 trading plan"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

RSUs financial

"vesting of RSUs"

RSUs, or restricted stock units, are a form of company shares given to employees as part of their compensation. They are typically awarded with certain restrictions, such as a waiting period before they can be fully owned or sold, similar to earning a gift that becomes fully yours over time. For investors, RSUs can impact a company's stock offerings and reflect how much the company relies on stock-based incentives to attract and retain talent.

weighted-average sale price financial

"Reflects the weighted-average sale price"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many MAX shares did director Eugene Nonko sell?

The reported sales totaled 27,639 Class A common shares from October 19 through October 21, 2026: 1,940 shares directly and 7,273 shares through O.N.E. Holdings, LLC on each of the three dates.

What prices were reported for Eugene Nonko’s MAX share sales?

The weighted-average prices for direct and O.N.E. Holdings, LLC sales, respectively, were $11.3871 and $11.3881 on October 19, $11.6178 and $11.7238 on October 20, and $11.6343 and $11.6272 on October 21, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/21/2026 - 09:41 PM EDT Accepted by SEC EDGAR 10/21/2026 - 09:40 PM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Nonko Eugene

(Last) (First) (Middle)

C/O MEDIAALPHA, INC.

700 SOUTH FLOWER STREET, SUITE 640

(Street)

LOS ANGELES CALIFORNIA 90017

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
MediaAlpha, Inc. [ MAX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/19/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	10/19/2026		S(1)		1,940	D	$11.3871(2)	795,680	D
Class A Common Stock	10/20/2026		S(1)		1,940	D	$11.6178(3)	793,740	D
Class A Common Stock	10/21/2026		S(1)		1,940	D	$11.6343(4)	791,800	D
Class A Common Stock	10/19/2026		S(1)		7,273	D	$11.3881(5)	827,276	I	By O.N.E. Holdings,LLC
Class A Common Stock	10/20/2026		S(1)		7,273	D	$11.7238(6)	820,003	I	By O.N.E. Holdings,LLC
Class A Common Stock	10/21/2026		S(1)		7,273	D	$11.6272(4)	812,730	I	By O.N.E. Holdings,LLC

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. 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.

2. Reflects the weighted-average sale price for shares sold in multiple transactions at prices ranging from $11.23 to $11.58 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.

3. Reflects the weighted-average sale price for shares sold in multiple transactions at prices ranging from $11.445 to $11.91 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.

4. Reflects the weighted-average sale price for shares sold in multiple transactions at prices ranging from $11.59 to $11.72 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.

5. Reflects the weighted-average sale price for shares sold in multiple transactions at prices ranging from $11.23 to $11.59 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.

6. Reflects the weighted-average sale price for shares sold in multiple transactions at prices ranging from $11.40 to $11.91 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.

Remarks:

	/s/ Jeffrey B. Coyne	10/21/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)