White Mountains Insurance Group Ltd - Jun 30, 2023 Form 4 Insider Report for MediaAlpha, Inc. (MAX)

Role: Director, 10%+ Owner
Signature: White Mountains Insurance Group, Ltd., by Robert L. Seelig, its EVP and General Counsel
Stock symbol: MAX
Transactions as of: Jun 30, 2023
Transactions value $: $59,168,160
Form type: 4
Date filed: 6/30/2023, 08:13 AM
Next filing: May 9, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MAX	Class A Common Stock	Purchase	$59.2M	+5.92M	+34.93%	$10.00	22.9M	Jun 30, 2023	See footnote	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On June 30, 2023, White Mountains Insurance Group, Ltd. ("WMIG"), through its wholly-owned, direct subsidiary, WM Hinson (Bermuda) Ltd. ("WM Hinson"), accepted for purchase shares of the class A common stock of MediaAlpha, Inc. ("Shares") through a fixed-price tender offer.
F2	WMIG owns 900,000 Shares directly and owns 21,956,814 Shares indirectly. Of the Shares owned indirectly by WMIG, 5,916,816 Shares are owned directly by WMIG's direct subsidiary, WM Hinson, and 16,039,998 Shares are held directly by White Mountains Investments (Luxembourg) S.a' r.l., a direct subsidiary of WM Birkdale, Ltd., a direct subsidiary of WMIG.