Venmal (Raji) Arasu - May 19, 2022 Form 4 Insider Report for MediaAlpha, Inc. (MAX)

Role: Director
Signature: /s/ Lance Martinez, attorney-in-fact
Stock symbol: MAX
Transactions as of: May 19, 2022
Transactions value $: $0
Form type: 4
Date filed: 5/20/2022, 07:04 PM
Previous filing: May 2, 2022
Next filing: Aug 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	+8.16K	+103.41%	$0.00	16.1K	May 19, 2022	Direct	F1
transaction	MAX	Class A Common Stock	Award	$0	+17.2K	+107.16%	$0.00	33.3K	May 19, 2022	Direct	F2

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	-8.16K	-100%	$0.00^*	0	May 19, 2022	Class A Common Stock	8.16K	$0.00	Direct	F3, 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	Consists of restricted stock units granted to the Reporting Person under the Issuer's Omnibus Incentive Plan, in connection with the Reporting Person's service on the Issuer's board of directors. Each RSU represents a contingent right to receive one share of Class A Common Stock upon vesting. All such restricted stock units will vest on the earlier of the first anniversary of the grant date or the date of the Issuer's 2023 Annual Meeting, subject to the Reporting Person's continued service through the applicable vesting date.
F3	Each such 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, upon vesting.
F4	Represents restricted stock units granted to the Reporting Person under the Issuer's Omnibus Incentive Plan, in connection with the Reporting Person's service on the Issuer's board of directors. The restricted stock units vested on the earlier of the first anniversary of the grant date or the date of the Issuer's 2022 Annual Meeting, subject to the Reporting Person's continued service through the applicable vesting date.