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

Reporting relationship: Chief Revenue Officer
Issuer ticker: MAX
Reported as of: 15 May 2026
Net transaction value: -$104,686
SEC form: 4
Accepted by SEC: 19 May 2026, 16:40:49 UTC
Prior SEC filing: 15 Apr 2026
Next SEC filing: 15 Jun 2026
Source filing: View source filing
Reporting owner signature: /s/ Jeffrey B. Coyne

Key filing fact

Keith Cramer filed Form 4 for MediaAlpha, Inc. (MAX) on 19 May 2026.

Key facts

This page summarizes Keith Cramer's Form 4 filing for MediaAlpha, Inc. (MAX).
5 reported transactions and 2 derivative rows are listed below.
Accepted by SEC: 19 May 2026, 16:40.

Change

Previous filing in this sequence was filed on 15 Apr 2026.
Current net transaction value: -$104,686.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001829989 Primary reporting owner

Cramer Keith

Relationship: Chief Revenue Officer
Address: C/O MEDIAALPHA, INC., 700 SOUTH FLOWER STREET, SUITE 640, LOS ANGELES
Signature: /s/ Jeffrey B. Coyne
Signature date: 19 May 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

MAX transaction

Class A Common Stock

Options Exercise

Transaction value
Shares: +5,303
Change %: +1.8%
Price: $0.000000^*
Shares after: 302,057
Date: 15 May 2026
Ownership: Direct
Footnotes: F1

MAX transaction

Class A Common Stock

Options Exercise

Transaction value
Shares: +4,471
Change %: +1.5%
Price: $0.000000^*
Shares after: 306,528
Date: 15 May 2026
Ownership: Direct
Footnotes: F1

MAX transaction

Class A Common Stock

Sale

Transaction value: $104,686
Shares: -13,000
Change %: -4.2%
Price: $8.05
Shares after: 293,528
Date: 15 May 2026
Ownership: Direct
Footnotes: F2, F3

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

MAX transaction Derivative

Restricted Stock Units

Options Exercise

Transaction value
Shares: -5,303
Change %: -25%
Price: $0.000000^*
Shares after: 15,910
Date: 15 May 2026
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 5,303
Exercise price
Footnotes: F4, F5

MAX transaction Derivative

Restricted Stock Units

Options Exercise

Transaction value
Shares: -4,471
Change %: -12%
Price: $0.000000^*
Shares after: 31,304
Date: 15 May 2026
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 4,471
Exercise price
Footnotes: F6, F7

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Rule 10b5-1 trading plan

These transactions were reported as open-market trades under a Rule 10b5-1 plan. The plan lets an insider set trading instructions in advance, which can reduce the risk of trading while in possession of material nonpublic information.

Original filing language: transaction made pursuant to a contract, instruction, or written plan intended to satisfy Rule 10b5-1(c).

Explanation of responses 7 footnotes

Footnote F1

One share of Class A Common Stock was issued upon the vesting of each Restricted Stock Unit ("RSU").

Footnote 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.

Footnote F3

Reflects the weighted-average sale price for shares sold in multiple transactions at prices ranging from $7.95 to $8.195 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.

Footnote F4

Represents RSUs granted under the Issuer's Omnibus Equity Incentive Plan on March 15, 2023.

Footnote 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.

Footnote F6

Represents RSUs granted under the Issuer's Omnibus Equity Incentive Plan on March 15, 2024.

Footnote 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.