MediaAlpha (NYSE: MAX) director sells 4,107 shares under 10b5-1 plan

Rhea-AI Filing Summary

MediaAlpha, Inc. director Eugene Nonko reported open-market sales of 4,107 shares of Class A Common Stock at $10.00 per share on March 9, 2026. The transactions included 1,992 shares sold from his direct holdings and 2,115 shares sold indirectly through O.N.E. Holdings, LLC.

These sales were made under a previously adopted Rule 10b5-1 trading plan primarily to cover taxes from vesting restricted stock units. After the trades, Nonko continues to hold 884,950 shares directly and 1,379,805 shares indirectly through O.N.E. Holdings, LLC.

Insider Trade Summary 10b5-1

Net Seller: 4,107 shares ($41,070)

Net Sell 2 txns

Insider Nonko Eugene

Role Director

Sold 4,107 shs ($41K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	1,992	$10.00	$20K
Sale	Class A Common Stock	2,115	$10.00	$21K

Holdings After Transaction: Class A Common Stock — 884,950 shares (Direct); Class A Common Stock — 1,379,805 shares (Indirect, By O.N.E. Holdings,LLC)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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 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)
03/09/2026

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	03/09/2026		S(1)		1,992	D	$10	884,950	D
Class A Common Stock	03/09/2026		S(1)		2,115	D	$10	1,379,805	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.

Remarks:

	/s/ Jeffrey B. Coyne	03/11/2026
	** 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.

FAQ

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

Director Eugene Nonko reported selling a total of 4,107 MediaAlpha Class A shares at $10.00 per share on March 9, 2026. The trades were open-market sales and involved both his direct and indirect holdings.

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

Yes. The Form 4 footnote states the sales were effected under a previously adopted Rule 10b5-1 trading plan. The plan was used primarily to cover taxes arising from the vesting of restricted stock units (RSUs), indicating a pre-planned, tax-driven transaction.

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

After the March 9, 2026 transactions, Eugene Nonko holds 884,950 shares directly of MediaAlpha Class A Common Stock and 1,379,805 shares indirectly through O.N.E. Holdings, LLC. These post-transaction balances are reported in the Form 4 for each respective holding.

Why did Eugene Nonko sell MediaAlpha (MAX) shares in this Form 4 filing?

According to the Form 4 footnote, the sales were primarily to cover taxes from the vesting of RSUs. The transactions were executed under a pre-established Rule 10b5-1 trading plan, suggesting a tax and liquidity management purpose rather than an opportunistic market-timing trade.

Did the MediaAlpha (MAX) Form 4 involve both direct and indirect holdings?

Yes. The filing shows 1,992 shares sold from Nonko’s direct holdings and 2,115 shares sold from indirect holdings reported as “By O.N.E. Holdings, LLC”. Both transactions involved MediaAlpha Class A Common Stock at a reported price of $10.00 per share.

What type of security was traded in this MediaAlpha (MAX) Form 4?

All reported transactions involved MediaAlpha, Inc. Class A Common Stock. The Form 4 lists two open-market sale transactions on March 9, 2026, each referencing Class A Common Stock as the security title with a transaction price of $10.00 per share.