MediaAlpha (NYSE: MAX) director sells 46,417 shares under 10b5-1 plan

Rhea-AI Filing Summary

MediaAlpha, Inc. director Eugene Nonko reported open-market sales of 46,417 shares of Class A common stock between July 13 and 15, 2026, through both direct holdings and O.N.E. Holdings, LLC. The sales, executed at prices around $14, were made under a previously adopted Rule 10b5-1 trading plan primarily to cover taxes from RSU vesting. Following these trades, Nonko holds 1,089,684 shares indirectly and 890,574 shares directly.

Insider Trade Summary 10b5-1

Net Seller: 46,417 shares ($645,776)

Net Sell 6 txns

Insider Nonko Eugene

Role Director

Sold 46,417 shs ($646K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	4,952	$14.0259	$69K
Sale	Class A Common Stock	9,524	$14.1406	$135K
Sale	Class A Common Stock	4,952	$13.8528	$69K
Sale	Class A Common Stock	9,524	$13.9028	$132K
Sale	Class A Common Stock	6,622	$13.8066	$91K
Sale	Class A Common Stock	10,843	$13.7608	$149K

Holdings After Transaction: Class A Common Stock — 890,574 shares (Direct); Class A Common Stock — 1,089,684 shares (Indirect, By O.N.E. Holdings,LLC)

Footnotes (1)

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. Reflects the weighted-average sale price for shares sold in multiple transactions at prices ranging from $13.41 to $14.04 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. Reflects the weighted-average sale price for shares sold in multiple transactions at prices ranging from $13.67 to $14.00 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. Reflects the weighted-average sale price for shares sold in multiple transactions at prices ranging from $13.87 to $14.305 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. Reflects the weighted-average sale price for shares sold in multiple transactions at prices ranging from $13.445 to $14.055 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. Reflects the weighted-average sale price for shares sold in multiple transactions at prices ranging from $13.69 to $14.055 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. Reflects the weighted-average sale price for shares sold in multiple transactions at prices ranging from $13.88 to $14.31 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

Total shares sold: 46,417 shares Price per share (July 15 indirect sale): $14.1406 per share Price per share (July 15 direct sale): $14.0259 per share +3 more

6 metrics

Total shares sold 46,417 shares Aggregate net shares sold across six open-market transactions

Price per share (July 15 indirect sale) $14.1406 per share Weighted-average sale price for 9,524 indirectly held shares on 2026-07-15

Price per share (July 15 direct sale) $14.0259 per share Weighted-average sale price for 4,952 directly held shares on 2026-07-15

Indirect holdings after trades 1,089,684 shares Class A shares held indirectly via O.N.E. Holdings, LLC after reported sales

Direct holdings after trades 890,574 shares Class A shares held directly by Eugene Nonko after reported sales

Price per share (July 13 direct sale) $13.8066 per share Weighted-average sale price for 6,622 directly held shares on 2026-07-13

Key Terms

Rule 10b5-1 trading plan, restricted stock units (RSUs), weighted-average sale price, indirect ownership

4 terms

Rule 10b5-1 trading plan regulatory

"sales were effected pursuant to a Rule 10b5-1 trading plan previously adopted"

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.

restricted stock units (RSUs) financial

"primarily to cover taxes resulting from the vesting of RSUs"

Restricted stock units (RSUs) are a type of company promise to give employees shares of stock in the future, usually after certain conditions like working for a set time. They are like a gift promised today that you receive later, which can become valuable if the company's stock price goes up. RSUs matter because they are a way companies reward employees and can be a significant part of compensation.

weighted-average sale price financial

"Reflects the weighted-average sale price for shares sold in multiple transactions"

indirect ownership financial

"total_shares_following_transaction reported as indirect, By O.N.E. Holdings, LLC"

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/15/2026 - 07:10 PM Accepted by SEC EDGAR 07/15/2026 - 07:09 PM Learn about SEC filing dates

FAQ

What did MediaAlpha (MAX) director Eugene Nonko report in this Form 4?

Eugene Nonko reported open-market sales of 46,417 Class A shares of MediaAlpha, Inc. These trades occurred over three days in July 2026 through both direct and indirect ownership accounts.

Over what period were the MAX shares sold and in what type of transactions?

The shares were sold on July 13, 14, and 15, 2026 in open-market transactions. Each transaction is coded "S" and described as a sale in open market or private transactions.

At what prices were MediaAlpha (MAX) shares sold by Eugene Nonko?

The reported weighted-average sale prices were around $13.76 to $14.14 per share. Each line reflects a weighted-average price for multiple trades within specified price ranges detailed in the footnotes.

Were the MAX share sales by Eugene Nonko made under a Rule 10b5-1 plan?

Yes. A footnote states the sales were effected under a previously adopted Rule 10b5-1 trading plan. This plan was adopted primarily to cover taxes resulting from the vesting of restricted stock units (RSUs).

How many MediaAlpha (MAX) shares does Eugene Nonko hold after these sales?

After the reported transactions, Nonko holds 1,089,684 shares indirectly through O.N.E. Holdings, LLC and 890,574 shares directly. These figures are shown as the share balances following the respective transactions.

What portion of Eugene Nonko’s MAX holdings were sold in this Form 4?

He sold 46,417 shares in total, according to the transaction summary. The filing does not state MediaAlpha’s total shares outstanding, so the percentage of the company or of his overall holdings is not quantified there.

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)
07/13/2026

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	07/13/2026		S(1)		6,622	D	$13.8066(2)	900,478	D
Class A Common Stock	07/14/2026		S(1)		4,952	D	$13.8528(3)	895,526	D
Class A Common Stock	07/15/2026		S(1)		4,952	D	$14.0259(4)	890,574	D
Class A Common Stock	07/13/2026		S(1)		10,843	D	$13.7608(5)	1,108,732	I	By O.N.E. Holdings,LLC
Class A Common Stock	07/14/2026		S(1)		9,524	D	$13.9028(6)	1,099,208	I	By O.N.E. Holdings,LLC
Class A Common Stock	07/15/2026		S(1)		9,524	D	$14.1406(7)	1,089,684	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 $13.41 to $14.04 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 $13.67 to $14.00 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 $13.87 to $14.305 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 $13.445 to $14.055 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 $13.69 to $14.055 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.

7. Reflects the weighted-average sale price for shares sold in multiple transactions at prices ranging from $13.88 to $14.31 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	07/15/2026
	** 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)