Keith Cramer - 15 Feb 2026 Form 4 Insider Report for MediaAlpha, Inc. (MAX)

Role
Chief Revenue Officer
Signature
/s/ Jeffrey B. Coyne
Issuer symbol
MAX
Transactions as of
15 Feb 2026
Net transactions value
-$71,599
Form type
4
Filing time
17 Feb 2026, 21:23:08 UTC
Previous filing
16 Jan 2026
Next filing
17 Mar 2026
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 17 Feb 2026 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 +5,210 +2.9% $0.000000 182,379 15 Feb 2026 Direct F1
transaction MAX Class A Common Stock Options Exercise $0 +5,303 +2.9% $0.000000 187,682 15 Feb 2026 Direct F1
transaction MAX Class A Common Stock Options Exercise $0 +4,472 +2.4% $0.000000 192,154 15 Feb 2026 Direct F1
transaction MAX Class A Common Stock Sale $71,599 -10,000 -5.2% $7.16 182,154 17 Feb 2026 Direct F2, F3

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 -5,210 -100% $0.000000 0 15 Feb 2026 Class A Common Stock 5,210 Direct F4, F5
transaction MAX Restricted Stock Units Options Exercise $0 -5,303 -20% $0.000000 21,213 15 Feb 2026 Class A Common Stock 5,303 Direct F6, F7
transaction MAX Restricted Stock Units Options Exercise $0 -4,472 -11% $0.000000 35,775 15 Feb 2026 Class A Common Stock 4,472 Direct F8, F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

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 The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan previously adopted by the Reporting Person primarily to cover taxes resulting from the vesting of RSUs.
F3 Reflects the weighted-average sale price for shares sold in multiple transactions at prices ranging from $7.09 to $7.29 per share. The Reporting Person undertakes to provide upon request by the Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.
F4 Represents RSUs granted under the Issuer's Omnibus Equity Incentive Plan on March 25, 2022.
F5 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.
F6 Represents RSUs granted under the Issuer's Omnibus Equity Incentive Plan on March 15, 2023.
F7 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.
F8 Represents RSUs granted under the Issuer's Omnibus Equity Incentive Plan on March 15, 2024.
F9 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.