MediaAlpha (MAX): Director Bought 31,000 Shares at $9.60 — Form 4

Kathy P. Vrabeck, identified as a director of MediaAlpha, Inc. (MAX), acquired 31,000 shares of Class A common stock on 08/12/2025 at a weighted-average price of $9.5992 per share.

Rhea-AI Filing Summary

Kathy P. Vrabeck, identified as a director of MediaAlpha, Inc. (MAX), acquired 31,000 shares of Class A common stock on 08/12/2025 at a weighted-average price of $9.5992 per share. After the purchase she directly beneficially owned 129,657 shares.

The filing notes the purchases occurred at prices ranging from $9.3795 to $9.78 per share and states the reporting person will provide a breakdown of the number of shares bought at each separate price upon request. The transaction is reported on a Form 4 as an acquisition.

Positive

• Director purchase: Kathy P. Vrabeck acquired 31,000 Class A shares, showing insider buying activity.
• Increased direct ownership: Direct beneficial ownership rose to 129,657 shares following the transaction.
• Price transparency: Filing discloses a weighted-average price of $9.5992 and a purchase price range of $9.3795 to $9.78.

Negative

• None.

Insights

Financial Analyst

TL;DR: Director purchased 31,000 Class A shares at a weighted-average $9.5992, raising direct holdings to 129,657 shares.

This Form 4 documents a straightforward insider purchase by a company director. The filing lists a weighted-average purchase price and a price range of individual trades, but does not include the per-trade breakdown in the text; that detail is available on request. Without context on the director's historical buying or the company's outstanding share count, the market impact cannot be determined from this filing alone.

Corporate Governance Expert

TL;DR: Routine reporting of a director's direct acquisition of company stock; disclosure includes aggregate amounts and a price range.

The disclosure meets standard Section 16 reporting: it identifies the reporting person, role (director), transaction type (acquisition), aggregate shares bought, weighted-average price, and resulting direct beneficial ownership. The note that the reporter will provide a per-price breakdown on request addresses transparency but the filing itself omits per-lot details.

Insider Trade Summary

Net Buyer: 31,000 shares

Net Buy 1 txn

Insider VRABECK KATHY P

Role Director

Bought 31,000 shs ($298K)

Type	Security	Shares	Price	Value
Purchase	Class A Common Stock	31,000	$9.5992	$298K

Holdings After Transaction: Class A Common Stock — 129,657 shares (Direct)

Footnotes (1)

1. F1. Reflects the weighted-average purchase price for shares bought in multiple transactions at prices ranging from $9.3795 to $9.78 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 purchased at each separate price.

FAQ

What transaction did Kathy P. Vrabeck report for MediaAlpha (MAX)?

The Form 4 reports that Kathy P. Vrabeck (a director) acquired 31,000 Class A shares of MediaAlpha (MAX).

When was the reported transaction for MAX executed?

The earliest transaction date reported is 08/12/2025.

At what price did the insider buy MAX shares?

The filing shows a weighted-average purchase price of $9.5992 and a reported price range of $9.3795 to $9.78 per share.

How many MAX shares does the reporting person own after the purchase?

After the reported transactions the reporting person directly beneficially owned 129,657 shares.

Does the Form 4 provide a per-trade breakdown of the purchase prices?

The filing states the purchases were at multiple prices and that the reporting person will provide a full breakdown on request; the per-trade breakdown is not included in the Form 4 itself.

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

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Accepted by SEC EDGAR 08/13/2025 - 09:20 AM 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^*

VRABECK KATHY P

(Last) (First) (Middle)

C/O MEDIAALPHA, INC.

700 SOUTH FLOWER STREET, SUITE 640

(Street)

LOS ANGELES CA 90017

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
08/12/2025

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

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

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

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	08/12/2025		P		31,000	A	$9.5992(1)	129,657	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. Reflects the weighted-average purchase price for shares bought in multiple transactions at prices ranging from $9.3795 to $9.78 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 purchased at each separate price.

Remarks:

	/s/ Jeffrey B. Coyne	08/13/2025
	** 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.