Form 4: Insignia Capital Partners Exchanges Class B-1 Units for Class A Common Stock in MediaAlpha

Insignia Capital Partners converted 3,000,000 Class B-1 Units of QL Holdings, LLC into an equal number of shares of MediaAlpha's Class A Common Stock on March 1, 2024.

Summary

• On March 1, 2024, Insignia Capital Partners exchanged 3,000,000 Class B-1 Units of QL Holdings, LLC for 3,000,000 shares of MediaAlpha's Class A Common Stock.
• The exchange was made pursuant to the Exchange Agreement dated October 27, 2020.
• In connection with the exchange, the Reporting Persons forfeited an equal number of Class B Shares of the Issuer for no consideration.
• Following the transaction, Insignia Capital Partners continues to beneficially own a significant number of Class B Shares and Class B-1 Units through various entities.
• The reporting entities include Insignia Capital Partners GP, L.L.C., Insignia Capital Partners, L.P., Insignia Capital Partners (AIV), L.P., Insignia Capital Partners (Parallel A), L.P., Insignia QL Holdings, LLC, and Insignia A QL Holdings, LLC.

Sentiment

Score: 6

Explanation: The document is a standard SEC filing detailing a pre-planned transaction. It doesn't inherently indicate positive or negative sentiment, but rather a procedural change in ownership structure.

Industry Context

This transaction reflects ongoing adjustments in the ownership structure of MediaAlpha, potentially influencing the company's stock performance and strategic direction within the insurance and advertising technology sectors.

Stakeholder Impact

• The exchange of shares may have a minor impact on shareholders due to the change in the number of Class A shares outstanding.
• The transaction does not appear to directly impact employees, customers, suppliers, or creditors.

Key Dates