Form 4: MediaAlpha Director Sells Shares for Tax Obligations

MediaAlpha Director Eugene Nonko sold 36,300 shares of Class A Common Stock over three days to cover tax liabilities from RSU vesting.

Summary

• Eugene Nonko, a Director of MediaAlpha, Inc. (MAX), reported sales of Class A Common Stock.
• Transactions occurred on November 17, 18, and 19, 2025.
• A total of 36,300 shares were sold across these three days.
• Direct sales by Mr. Nonko totaled 16,200 shares (5,400 shares each day).
• Indirect sales through O.N.E. Holdings, LLC totaled 20,100 shares (6,700 shares each day).
• The sales were executed under a Rule 10b5-1 trading plan to cover taxes resulting from the vesting of Restricted Stock Units (RSUs).
• Weighted-average sale prices ranged from $11.6308 to $12.3279 per share.
• Following these transactions, Mr. Nonko beneficially owns 1,111,648 shares directly and 1,683,420 shares indirectly through O.N.E. Holdings, LLC.

Sentiment

Score: 5

Explanation: The sentiment is neutral. The transactions are routine, pre-planned sales by a director to cover tax liabilities from RSU vesting, which is a common occurrence and not indicative of positive or negative company performance.

Future Outlook

This filing does not contain forward-looking statements or guidance regarding the company's future financial performance or strategic direction.

Management Comments

• The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan previously adopted by the Reporting Person to cover taxes resulting from the vesting of RSUs.

Industry Context

This is a routine insider transaction disclosure, common for executives and directors who receive equity compensation. It reflects personal financial planning rather than a statement on the company's operational performance or industry trends.

Related Party Transactions

• Sales of Class A Common Stock were made indirectly through O.N.E. Holdings, LLC, which is beneficially owned by the reporting person, Eugene Nonko.

Stakeholder Impact

• Shareholders: Minimal impact, as these are routine, pre-planned sales for tax purposes and do not signal a change in the company's fundamentals or management's confidence.

Key Dates

Keywords

MediaAlpha, MAX, Insider Trading, Form 4, Stock Sale, Director, 10b5-1 Plan, RSU Vesting, Equity Compensation