Patrick Ryan Thompson - 15 Nov 2025 Form 4 Insider Report for MediaAlpha, Inc. (MAX)

Reporting relationship: Chief Financial Officer and Treasurer
Issuer ticker: MAX
Reported as of: 15 Nov 2025
Net transaction value: -$270,793
SEC form: 4
Accepted by SEC: 18 Nov 2025, 18:18:20 UTC
Prior SEC filing: 18 Aug 2025
Next SEC filing: 17 Feb 2026
Source filing: View source filing
Reporting owner signature: /s/ Jeffrey B. Coyne

Key filing fact

Patrick Ryan Thompson filed Form 4 for MediaAlpha, Inc. (MAX) on 18 Nov 2025.

Key facts

This page summarizes Patrick Ryan Thompson's Form 4 filing for MediaAlpha, Inc. (MAX).
6 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 18 Nov 2025, 18:18.

Change

Previous filing in this sequence was filed on 18 Aug 2025.
Current net transaction value: -$270,793.

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 0001897386 Primary reporting owner

Thompson Patrick Ryan

Relationship: Chief Financial Officer and Treasurer
Address: C/O MEDIAALPHA, INC., 700 SOUTH FLOWER STREET, SUITE 640, LOS ANGELES
Signature: /s/ Jeffrey B. Coyne
Signature date: 18 Nov 2025

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: $0
Shares: +9,772
Change %: +1.1%
Price: $0.000000
Shares after: 904,363
Date: 15 Nov 2025
Ownership: Direct
Footnotes: F1

MAX transaction

Class A Common Stock

Tax liability

Transaction value: $47,767
Shares: -3,846
Change %: -0.43%
Price: $12.42
Shares after: 900,517
Date: 15 Nov 2025
Ownership: Direct
Footnotes: F2

MAX transaction

Class A Common Stock

Tax liability

Transaction value: $65,304
Shares: -5,258
Change %: -0.58%
Price: $12.42
Shares after: 895,259
Date: 15 Nov 2025
Ownership: Direct
Footnotes: F3

MAX transaction

Class A Common Stock

Tax liability

Transaction value: $54,226
Shares: -4,366
Change %: -0.49%
Price: $12.42
Shares after: 890,893
Date: 15 Nov 2025
Ownership: Direct
Footnotes: F3

MAX transaction

Class A Common Stock

Tax liability

Transaction value: $103,496
Shares: -8,333
Change %: -0.94%
Price: $12.42
Shares after: 882,560
Date: 15 Nov 2025
Ownership: Direct
Footnotes: 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: $0
Shares: -9,772
Change %: -100%
Price: $0.000000
Shares after: 0
Date: 15 Nov 2025
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 9,772
Exercise price
Footnotes: F4, F5

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

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 5 footnotes

Footnote F1

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

Footnote F2

Represents shares withheld automatically by the Issuer to cover required tax withholding obligations due at settlement of RSUs.

Footnote F3

Represents shares withheld automatically by the Issuer to cover required tax withholding obligations due at settlement of restricted stock units previously reported in Table I as Class A Common Stock.

Footnote F4

Consists of RSUs granted to the Reporting Person on December 6, 2021 pursuant to the Issuer's Omnibus Incentive Plan, each of which represents a contingent right to receive one share of the Issuer's Class A Common Stock, or at the option of the Compensation Committee, cash of equivalent value, upon vesting.

Footnote F5

One quarter of such RSUs vested on November 15, 2022, and the remainder will vest quarterly through November 15, 2025, in each case subject to the Reporting Person's continued employment with the Issuer through the applicable vesting date.

SEC remarks

Chief Financial Officer and Treasurer