MediaAlpha (NYSE: MAX) director sells 43,428 shares in Rule 10b5-1 plan

Rhea-AI Filing Summary

MediaAlpha, Inc. director Eugene Nonko reported open-market sales of 43,428 shares of Class A common stock from July 20–22, 2026. The transactions included shares held directly and indirectly through O.N.E. Holdings, LLC and were executed under a pre-established Rule 10b5-1 trading plan primarily to cover taxes from vesting RSUs. Reported per-share prices are weighted-average prices across multiple trades within disclosed ranges.

Insider Trade Summary 10b5-1

Net Seller: 43,428 shares

Net Sell 6 txns

Insider Nonko Eugene

Role Director

Sold 43,428 shs ($607K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock F1, F4	4,952	$13.8123	$68K
Sale	Class A Common Stock F1, F6	9,524	$13.7127	$131K
Sale	Class A Common Stock F1, F3	4,952	$14.3317	$71K
Sale	Class A Common Stock F1, F5	9,524	$14.3296	$136K
Sale	Class A Common Stock F1, F2	4,952	$13.8701	$69K
Sale	Class A Common Stock F1, F2	9,524	$13.8238	$132K

Holdings After Transaction: Class A Common Stock — 875,718 shares (Direct); Class A Common Stock — 1,061,112 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 $13.61 to $14.07 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 $14.12 to $14.66 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 $13.475 to $14.12 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 $14.13 to $14.68 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 $13.465 to $14.12 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: 43,428 shares Direct sale per day: 4,952 shares Indirect sale per day: 9,524 shares +3 more

6 metrics

Total shares sold 43,428 shares Aggregate Class A common stock sales reported in this Form 4

Direct sale per day 4,952 shares Direct holdings sold on each of July 20, 21, and 22, 2026

Indirect sale per day 9,524 shares Indirect holdings via O.N.E. Holdings, LLC sold on each of July 20, 21, and 22, 2026

Price on July 20 (direct) $13.8701 per share Weighted-average sale price for 4,952 directly held shares on July 20, 2026

Price on July 21 (direct) $14.3317 per share Weighted-average sale price for 4,952 directly held shares on July 21, 2026

Price on July 22 (direct) $13.8123 per share Weighted-average sale price for 4,952 directly held shares on July 22, 2026

Key Terms

Rule 10b5-1 trading plan, 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.

RSUs financial

"primarily to cover taxes resulting from the 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 for shares sold in multiple transactions"

indirect ownership financial

"nature_of_ownership" : "By O.N.E. Holdings,LLC""

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

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/22/2026 - 07:16 PM Accepted by SEC EDGAR 07/22/2026 - 07:16 PM Learn about SEC filing dates

FAQ

What insider transaction did MediaAlpha (MAX) director Eugene Nonko report?

Eugene Nonko reported selling 43,428 shares of MediaAlpha Class A common stock in open-market transactions between July 20 and July 22, 2026. The trades were executed under a Rule 10b5-1 trading plan and involved both directly and indirectly held shares.

How many MediaAlpha (MAX) shares were sold directly vs indirectly?

The filing shows repeated sales of 4,952 shares held directly and 9,524 shares held indirectly, on each of three trading days. Indirect shares were held through O.N.E. Holdings, LLC, which is identified in the nature of ownership field.

Over what dates did the MediaAlpha (MAX) insider sales occur and at what prices?

Sales occurred on July 20, 21, and 22, 2026, at weighted-average prices such as $13.8701, $14.3317, $13.8123, and $13.7127 per share. Footnotes explain that each price reflects multiple trades within specified price ranges.

Were the MediaAlpha (MAX) insider sales made under a Rule 10b5-1 plan?

Yes. A footnote states the sales were effected under a Rule 10b5-1 trading plan previously adopted by the reporting person. The plan was described as being used primarily to cover taxes from vesting RSUs.

What is the stated purpose of Eugene Nonko’s MediaAlpha (MAX) share sales?

According to the footnote, the trading plan under which the sales occurred was adopted primarily to cover tax obligations arising from the vesting of restricted stock units (RSUs), indicating a tax-related motivation rather than a discretionary timing decision.

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)
07/20/2026

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	07/20/2026		S(1)		4,952	D	$13.8701(2)	885,622	D
Class A Common Stock	07/21/2026		S(1)		4,952	D	$14.3317(3)	880,670	D
Class A Common Stock	07/22/2026		S(1)		4,952	D	$13.8123(4)	875,718	D
Class A Common Stock	07/20/2026		S(1)		9,524	D	$13.8238(2)	1,080,160	I	By O.N.E. Holdings,LLC
Class A Common Stock	07/21/2026		S(1)		9,524	D	$14.3296(5)	1,070,636	I	By O.N.E. Holdings,LLC
Class A Common Stock	07/22/2026		S(1)		9,524	D	$13.7127(6)	1,061,112	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 $13.61 to $14.07 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 $14.12 to $14.66 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 $13.475 to $14.12 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 $14.13 to $14.68 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 $13.465 to $14.12 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	07/22/2026
	** 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)