Keith Cramer - Nov 15, 2025 Form 4 Insider Report for MediaAlpha, Inc. (MAX)

Role
Chief Revenue Officer
Signature
/s/ Jeffrey B. Coyne
Stock symbol
MAX
Transactions as of
Nov 15, 2025
Transactions value $
$0
Form type
4
Date filed
11/18/2025, 06:18 PM
Previous filing
Aug 18, 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Cramer Keith Chief Revenue Officer C/O MEDIAALPHA, INC., 700 SOUTH FLOWER STREET, SUITE 640, LOS ANGELES /s/ Jeffrey B. Coyne 2025-11-18 0001829989

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MAX Class A Common Stock Options Exercise $0 +5.21K +2.86% $0.00 187K Nov 15, 2025 Direct F1
transaction MAX Class A Common Stock Options Exercise $0 +5.3K +2.83% $0.00 193K Nov 15, 2025 Direct F1
transaction MAX Class A Common Stock Options Exercise $0 +4.47K +2.32% $0.00 197K Nov 15, 2025 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 -5.21K -50% $0.00 5.21K Nov 15, 2025 Class A Common Stock 5.21K Direct F2, F3
transaction MAX Restricted Stock Units Options Exercise $0 -5.3K -16.67% $0.00 26.5K Nov 15, 2025 Class A Common Stock 5.3K Direct F4, F5
transaction MAX Restricted Stock Units Options Exercise $0 -4.47K -10% $0.00 40.2K Nov 15, 2025 Class A Common Stock 4.47K Direct F6, F7
* 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 Represents RSUs granted under the Issuer's Omnibus Equity Incentive Plan on March 25, 2022.
F3 One sixteenth of the RSUs vested on May 15, 2022 and the remainder will vest quarterly over the following four years, in each case subject to continued employment with the Issuer through each vesting date.
F4 Represents RSUs granted under the Issuer's Omnibus Equity Incentive Plan on March 15, 2023.
F5 One sixteenth of the RSUs vested on May 15, 2023 and the remainder will vest quarterly over the following four years, in each case subject to continued employment with the Issuer through each vesting date.
F6 Represents RSUs granted under the Issuer's Omnibus Equity Incentive Plan on March 15, 2024.
F7 One sixteenth of the RSUs vested on May 15, 2024 and the remainder will vest quarterly over the following four years, in each case subject to continued employment with the Issuer through each vesting date.