Jeffrey B. Coyne - 13 Feb 2026 Form 4 Insider Report for MediaAlpha, Inc. (MAX)

Reporting relationship: GENERAL COUNSEL AND SECRETARY
Issuer ticker: MAX
Reported as of: 13 Feb 2026
Net transaction value: -$103,074
SEC form: 4
Accepted by SEC: 17 Feb 2026, 21:23:20 UTC
Prior SEC filing: 12 Dec 2025
Next SEC filing: 17 Mar 2026
Source filing: View source filing
Reporting owner signature: /s/ Jeffrey B. Coyne

Key filing fact

Jeffrey B. Coyne filed Form 4 for MediaAlpha, Inc. (MAX) on 17 Feb 2026.

Key facts

This page summarizes Jeffrey B. Coyne's Form 4 filing for MediaAlpha, Inc. (MAX).
7 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 17 Feb 2026, 21:23.

Change

Previous filing in this sequence was filed on 12 Dec 2025.
Current net transaction value: -$103,074.

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 0001213184 Primary reporting owner

COYNE JEFFREY B

Relationship: GENERAL COUNSEL AND SECRETARY
Address: C/O MEDIAALPHA, INC., 700 SOUTH FLOWER STREET, SUITE 640, LOS ANGELES
Signature: /s/ Jeffrey B. Coyne
Signature date: 17 Feb 2026

Reported non-derivative transactions

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

MAX transaction

Class A Common Stock

Sale

Transaction value: $36,522
Shares: -5,000
Change %: -1.1%
Price: $7.30
Shares after: 436,783
Date: 13 Feb 2026
Ownership: Direct
Footnotes: F1, F2

MAX transaction

Class A Common Stock

Options Exercise

Transaction value: $0
Shares: +6,544
Change %: +1.5%
Price: $0.000000
Shares after: 443,327
Date: 15 Feb 2026
Ownership: Direct
Footnotes: F3

MAX transaction

Class A Common Stock

Tax liability

Transaction value: $14,297
Shares: -1,994
Change %: -0.45%
Price: $7.17
Shares after: 441,333
Date: 15 Feb 2026
Ownership: Direct
Footnotes: F4

MAX transaction

Class A Common Stock

Tax liability

Transaction value: $16,211
Shares: -2,261
Change %: -0.51%
Price: $7.17
Shares after: 439,072
Date: 15 Feb 2026
Ownership: Direct
Footnotes: F5

MAX transaction

Class A Common Stock

Tax liability

Transaction value: $12,863
Shares: -1,794
Change %: -0.41%
Price: $7.17
Shares after: 437,278
Date: 15 Feb 2026
Ownership: Direct
Footnotes: F5

MAX transaction

Class A Common Stock

Tax liability

Transaction value: $23,181
Shares: -3,233
Change %: -0.74%
Price: $7.17
Shares after: 434,045
Date: 15 Feb 2026
Ownership: Direct
Footnotes: F5

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: -6,544
Change %: -100%
Price: $0.000000
Shares after: 0
Date: 15 Feb 2026
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 6,544
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

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 F2

Reflects the weighted-average sale price for shares sold in multiple transactions at prices ranging from $7.24 to $7.40 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 F3

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

Footnote F4

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

Footnote F5

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 F6

Represents grant of RSUs under the Issuer's Omnibus Equity Incentive Plan granted March 15, 2022.

Footnote F7

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.