MediaAlpha (NYSE: MAX) CFO covers taxes with 24K shares

Rhea-AI Filing Summary

MediaAlpha, Inc. executive Thompson Patrick Ryan, Chief Financial Officer and Treasurer, reported four Form 4 transactions in Class A Common Stock on August 15, 2026. A total of 24,209 shares were disposed of at $13.17 per share, all classified as code F transactions representing shares withheld automatically to satisfy tax withholding obligations upon settlement of previously granted restricted stock units, rather than open-market sales.

Insider Trade Summary

Net Seller: 24,209 shares

Net Sell 4 txns

Insider Thompson Patrick Ryan

Role See Remarks

Type	Security	Shares	Price	Value
Tax Withholding	Class A Common Stock F1	5,258	$13.17	$69K
Tax Withholding	Class A Common Stock F1	4,366	$13.17	$58K
Tax Withholding	Class A Common Stock F1	8,333	$13.17	$110K
Tax Withholding	Class A Common Stock F1	6,252	$13.17	$82K

Holdings After Transaction: Class A Common Stock — 1,080,127 shares (Direct)

Footnotes (1)

1. F1. Represents shares withheld automatically by the Issuer to cover required tax withholding obligations due at settlement of restricted stock units previously reported in Table I as Class A Common Stock.

Key Figures

Total shares withheld for taxes: 24,209 shares Per-share value used: $13.17 per share First code F transaction shares: 5,258 shares +2 more

5 metrics

Total shares withheld for taxes 24,209 shares Aggregate code F dispositions to cover tax withholding obligations

Per-share value used $13.17 per share Applied to all Class A Common Stock code F transactions on August 15, 2026

First code F transaction shares 5,258 shares Class A Common Stock withheld for tax obligations on August 15, 2026

Largest single code F transaction 8,333 shares Class A Common Stock withheld for tax obligations on August 15, 2026

Number of tax-withholding transactions 4 ExercisePriceOrTaxLiabilityCount in transaction summary

Key Terms

restricted stock units, tax withholding obligations, withheld automatically, Class A Common Stock

4 terms

restricted stock units financial

"settlement of restricted stock units previously reported in Table I"

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.

tax withholding obligations financial

"to cover required tax withholding obligations due at settlement"

withheld automatically financial

"Represents shares withheld automatically by the Issuer to cover"

Class A Common Stock financial

"Represents shares withheld automatically by the Issuer to cover"

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

FAQ

What insider transaction did MAX (MediaAlpha, Inc.) report for Thompson Patrick Ryan on August 15, 2026?

MediaAlpha’s CFO Thompson Patrick Ryan reported four Form 4 transactions on August 15, 2026 involving Class A Common Stock. These were code F dispositions, reflecting shares withheld to cover tax obligations on restricted stock unit settlements, not open-market purchases or sales.

How many MediaAlpha (MAX) shares were involved in Thompson Patrick Ryan’s latest Form 4 filing?

The Form 4 shows a total of 24,209 shares of MediaAlpha Class A Common Stock involved in code F transactions. These shares were withheld automatically by the issuer to satisfy required tax withholding obligations when restricted stock units settled.

At what price were the MAX shares valued in Thompson Patrick Ryan’s August 15, 2026 Form 4 transactions?

Each of the reported transactions used a value of $13.17 per share for MediaAlpha Class A Common Stock. This price applies to all four code F dispositions that were used to cover tax withholding obligations tied to restricted stock unit settlements.

Were Thompson Patrick Ryan’s MAX Form 4 transactions open-market sales or tax-related withholdings?

The transactions were tax-related withholdings, not open-market sales. All four are coded F and a footnote specifies the shares were withheld automatically by MediaAlpha to cover required tax withholding obligations on vested restricted stock units.

What does transaction code F mean in the MediaAlpha (MAX) Form 4 for Thompson Patrick Ryan?

Transaction code F denotes payment of tax liability or exercise price by delivering or withholding securities. In this case, a footnote clarifies the 24,209 shares were withheld solely to satisfy tax withholding obligations upon settlement of restricted stock units.

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

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 08/17/2026 - 09:54 PM Accepted by SEC EDGAR 08/17/2026 - 09:53 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^*

Thompson Patrick Ryan

(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)
08/15/2026

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	08/15/2026		F		5,258(1)	D	$13.17	1,099,078	D
Class A Common Stock	08/15/2026		F		4,366(1)	D	$13.17	1,094,712	D
Class A Common Stock	08/15/2026		F		8,333(1)	D	$13.17	1,086,379	D
Class A Common Stock	08/15/2026		F		6,252(1)	D	$13.17	1,080,127	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. Represents shares withheld automatically by the Issuer to cover required tax withholding obligations due at settlement of restricted stock units previously reported in Table I as Class A Common Stock.

Remarks:

Chief Financial Officer and Treasurer

	/s/ Jeffrey B. Coyne	08/17/2026
	** 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)