MediaAlpha director sells 43,428 shares in trading plan

MediaAlpha, Inc. director Eugene Nonko reported selling 43,428 shares of Class A Common Stock in six sale transactions from July 27–29, 2026.

Rhea-AI Filing Summary

MediaAlpha, Inc. director Eugene Nonko reported selling 43,428 shares of Class A Common Stock in six sale transactions from July 27–29, 2026. The sales, some made directly and others through O.N.E. Holdings, LLC, were executed at weighted-average prices between $13.225 and $14.255 per share.

According to the disclosure, all transactions were effected under a previously adopted Rule 10b5-1 trading plan primarily to cover taxes arising from the vesting of RSUs.

Insider Trade Summary 10b5-1

Net Seller: 43,428 shares

Net Sell 6 txns

Insider Nonko Eugene

Role Director

Sold 43,428 shs ($597K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock F1, F4	4,952	$14.0491	$70K
Sale	Class A Common Stock F1, F6	9,524	$14.0466	$134K
Sale	Class A Common Stock F1, F3	6,622	$13.8592	$92K
Sale	Class A Common Stock F1, F5	10,843	$13.7762	$149K
Sale	Class A Common Stock F1, F2	3,282	$13.2761	$44K
Sale	Class A Common Stock F1, F2	8,205	$13.2764	$109K

Holdings After Transaction: Class A Common Stock — 860,862 shares (Direct); Class A Common Stock — 1,032,540 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 $13.225 to $13.345 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 $13.62 to $14.01 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 $13.89 to $14.225 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 $13.505 to $14.01 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 $13.89 to $14.255 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 2026-07-27 direct sale: 3,282 shares 2026-07-27 indirect sale: 8,205 shares +4 more

7 metrics

Total shares sold 43,428 shares Aggregate MediaAlpha Class A Common Stock sold by Eugene Nonko across six transactions

2026-07-27 direct sale 3,282 shares Class A sold directly at a weighted-average price of $13.2761 per share

2026-07-27 indirect sale 8,205 shares Class A sold indirectly via O.N.E. Holdings, LLC at $13.2764 per share

2026-07-28 direct sale 6,622 shares Class A sold directly at a weighted-average price of $13.8592 per share

2026-07-28 indirect sale 10,843 shares Class A sold indirectly via O.N.E. Holdings, LLC at $13.7762 per share

2026-07-29 direct sale 4,952 shares Class A sold directly at a weighted-average price of $14.0491 per share

2026-07-29 indirect sale 9,524 shares Class A sold indirectly via O.N.E. Holdings, LLC at $14.0466 per share

Key Terms

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

3 terms

Rule 10b5-1 trading plan regulatory

"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"

FAQ

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

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

MediaAlpha director Eugene Nonko disclosed six sales totaling 43,428 shares of Class A Common Stock on July 27–29, 2026. The transactions were made under a previously adopted Rule 10b5-1 trading plan primarily to cover taxes from vesting RSUs.

How many MediaAlpha (MAX) shares did Eugene Nonko sell, and at what price range?

Eugene Nonko sold 43,428 shares of MediaAlpha Class A Common Stock across six transactions. Footnotes state the weighted-average sale prices came from trades executed between $13.225 and $14.255 per share, depending on the specific transaction date and block.

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

Yes. The filing’s checkbox and footnotes state the sales were effected under a previously adopted Rule 10b5-1 trading plan. This indicates the transactions followed a pre-arranged schedule rather than discretionary timing by the reporting person.

Why were Eugene Nonko’s MediaAlpha (MAX) shares sold according to the filing?

A footnote explains the trading plan was adopted primarily to cover taxes resulting from the vesting of restricted stock units (RSUs). This links the sales to equity-compensation tax obligations rather than a stated change in long-term investment view.

Did Eugene Nonko sell MediaAlpha (MAX) shares directly or through an entity?

The reported sales include both direct holdings and indirect holdings. Some shares were sold in Nonko’s own name, while others were sold through an entity identified as O.N.E. Holdings, LLC, as noted in the nature-of-ownership field.

Over what dates did the MediaAlpha (MAX) insider sales by Eugene Nonko occur?

The reported transactions occurred on July 27, 2026, July 28, 2026, and July 29, 2026. Each date includes both direct and indirect sales of MediaAlpha Class A Common Stock at different weighted-average prices within the disclosed $13.225–$14.255 range.

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

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Available on EDGAR 07/29/2026 - 06:36 PM Accepted by SEC EDGAR 07/29/2026 - 06:36 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).

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)
07/27/2026

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	07/27/2026		S(1)		3,282	D	$13.2761(2)	872,436	D
Class A Common Stock	07/28/2026		S(1)		6,622	D	$13.8592(3)	865,814	D
Class A Common Stock	07/29/2026		S(1)		4,952	D	$14.0491(4)	860,862	D
Class A Common Stock	07/27/2026		S(1)		8,205	D	$13.2764(2)	1,052,907	I	By O.N.E. Holdings,LLC
Class A Common Stock	07/28/2026		S(1)		10,843	D	$13.7762(5)	1,042,064	I	By O.N.E. Holdings,LLC
Class A Common Stock	07/29/2026		S(1)		9,524	D	$14.0466(6)	1,032,540	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 $13.225 to $13.345 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 $13.62 to $14.01 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 $13.89 to $14.225 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 $13.505 to $14.01 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 $13.89 to $14.255 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	07/29/2026
	** 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)