Venmal (Raji) Arasu - Jan 30, 2022 Form 4 Insider Report for MediaAlpha, Inc. (MAX)

Role: Director
Signature: /s/ Lance Martinez, attorney-in-fact
Stock symbol: MAX
Transactions as of: Jan 30, 2022
Transactions value $: $0
Form type: 4
Date filed: 2/14/2022, 08:30 PM
Previous filing: Nov 3, 2021
Next filing: May 2, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MAX	Class A Common Stock	Options Exercise	$0	+1.32K	+25%	$0.00	6.58K	Jan 30, 2022	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	MAX	Restricted Stock Units	Options Exercise	$0	-1.32K	-12.5%	$0.00	9.21K	Jan 30, 2022	Class A Common Stock	1.32K	$0.00	Direct	F2, F3
holding	MAX	Restricted Stock Units						8.16K	Jan 30, 2022	Class A Common Stock	8.16K	$0.00	Direct	F2, F4

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

Explanation of Responses:

Id	Content
F1	One share of Class A Common Stock was issued upon the vesting of each Restricted Stock Unit ("RSU").
F2	Each RSU represents a contingent right to receive one share of Class A Common Stock, or at the option of the Compensation Committee, cash of equivalent value.
F3	On October 30, 2020, the Reporting Person was granted 15,790 RSUs in connection with the Reporting Person's appointment to the Issuer's board of directors, which have vested or will vest quarterly over the first three years following the date of grant, subject to continued service through the applicable vesting date.
F4	On October 14, 2021, the Reporting Person was granted 8,163 RSUs which shall vest in full on the earlier of (x) the one year anniversary of the date of grant and (y) the date of the Company's 2022 Annual Meeting of Stockholders.