MediaAlpha CFO receives 24,250-unit stock grant

The remaining RSUs are scheduled to vest quarterly over 14 quarters beginning November 15, 2026, subject to continued employment.

Rhea-AI Filing Summary

MediaAlpha, Inc. (MAX) Chief Financial Officer and Treasurer Tigran Sinanyan was granted 24,250 restricted stock units under the Omnibus Incentive Plan on October 1, 2026. Each RSU represents a contingent right to receive one share of Class A Common Stock upon vesting. Two sixteenths of the RSUs vested on October 1, 2026; the remainder will vest quarterly over the following 14 quarters beginning November 15, 2026, subject to continued employment through each vesting date. At settlement, MediaAlpha automatically withheld 1,088 shares for required tax withholding obligations, at $9.57 per share.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Sinanyan Tigran

Role See Remarks

Type	Security	Shares	Price	Value
Grant/Award	Class A Common Stock F1	24,250	$0.00	$0.00
Tax Withholding	Class A Common Stock F2	1,088	$9.57	$10K

Holdings After Transaction: Class A Common Stock — 254,781 shares (Direct)

Footnotes (2)

1. F1. Consists of restricted stock units ("RSUs") granted to the Reporting Person under the Issuer's Omnibus Incentive Plan. Each RSU represents a contingent right to receive one share of Class A Common Stock upon vesting. Two sixteenths of the RSUs vested on October 1, 2026 and the remainder will vest quarterly over the following fourteen quarters beginning November 15, 2026, in each case subject to continued employment with the Issuer through each vesting date.
2. F2. Represents shares withheld automatically by the Issuer to cover required tax withholding obligations due at settlement of RSUs.

Key Figures

RSUs granted: 24,250 RSUs RSU share entitlement: 1 Class A Common Stock share per RSU RSUs vested: Two sixteenths +3 more

6 metrics

RSUs granted 24,250 RSUs Granted October 1, 2026

RSU share entitlement 1 Class A Common Stock share per RSU Contingent right upon vesting

RSUs vested Two sixteenths October 1, 2026

Remaining vesting period 14 quarters Quarterly vesting beginning November 15, 2026, subject to continued employment

Shares withheld for tax 1,088 shares Withheld automatically at RSU settlement

Withholding price $9.57 per share Shares withheld for required tax obligations

Key Terms

restricted stock units, Omnibus Incentive Plan, vesting, settlement, +1 more

5 terms

restricted stock units financial

"restricted stock units"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Omnibus Incentive Plan financial

"under the Issuer's Omnibus Incentive Plan"

An omnibus incentive plan is a single, flexible program a company uses to give employees and executives different types of pay tied to performance — for example stock options, restricted shares, cash bonuses and other awards — all governed by one set of rules. It matters to investors because it determines how many new shares may be created, how leaders are motivated and how much the company will spend on compensation over time; think of it as a master toolbox that affects both costs and the total share supply.

vesting financial

"upon vesting"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

settlement financial

"due at settlement of RSUs"

Settlement is the process of completing a financial transaction, like buying or selling a stock, by transferring money and ownership between parties. It ensures that both the buyer gets the asset and the seller gets paid, making the deal official. Without settlement, the transaction wouldn't be finalized or legally recognized.

tax withholding obligations financial

"required tax withholding obligations"

FAQ

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

How many MAX RSUs did Tigran Sinanyan receive?

Tigran Sinanyan was granted 24,250 restricted stock units on October 1, 2026. Each RSU represents a contingent right to receive one share of Class A Common Stock upon vesting.

When do Tigran Sinanyan's MAX RSUs vest?

Two sixteenths of the RSUs vested on October 1, 2026. The remainder will vest quarterly over the following 14 quarters beginning November 15, 2026, subject to continued employment through each vesting date.

How many MAX shares were withheld for Tigran Sinanyan's taxes?

MediaAlpha automatically withheld 1,088 shares at $9.57 per share to cover required tax withholding obligations due at settlement of the RSUs.

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

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Available on EDGAR 10/02/2026 - 07:22 PM Accepted by SEC EDGAR 10/02/2026 - 07:21 PM 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).

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^*

Sinanyan Tigran

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2026

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	10/01/2026		A		24,250(1)	A	$0	255,869	D
Class A Common Stock	10/01/2026		F		1,088(2)	D	$9.57	254,781	D

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. Consists of restricted stock units ("RSUs") granted to the Reporting Person under the Issuer's Omnibus Incentive Plan. Each RSU represents a contingent right to receive one share of Class A Common Stock upon vesting. Two sixteenths of the RSUs vested on October 1, 2026 and the remainder will vest quarterly over the following fourteen quarters beginning November 15, 2026, in each case subject to continued employment with the Issuer through each vesting date.

2. Represents shares withheld automatically by the Issuer to cover required tax withholding obligations due at settlement of RSUs.

Remarks:

Chief Financial Officer and Treasurer

	/s/ Jeffrey B. Coyne	10/02/2026
	** 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)