Steven Yi - 15 May 2025 Form 4 Insider Report for MediaAlpha, Inc. (MAX)

Role: CHIEF EXECUTIVE OFFICER, PRESIDENT AND CO-FOUNDER, Director
Signature: /s/ Jeffrey B. Coyne
Issuer symbol: MAX
Transactions as of: 15 May 2025
Transactions value $: $0
Form type: 4
Filing time: 16 May 2025, 16:40:30 UTC
Previous filing: 18 Mar 2025
Next filing: 23 May 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Yi Steven	CHIEF EXECUTIVE OFFICER, PRESIDENT AND CO-FOUNDER, Director	C/O MEDIAALPHA, INC., 700 SOUTH FLOWER STREET, SUITE 640, LOS ANGELES	/s/ Jeffrey B. Coyne	16 May 2025	0001829946

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MAX	Class A Common Stock	Options Exercise	$0	+18.3K	+0.62%	$0.00	2.96M	15 May 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	-18.3K	-25%	$0.00	54.9K	15 May 2025	Class A Common Stock	18.3K		Direct	F2, F3

* 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	Each RSU represents a contingent right to receive one share of Class A Common Stock, or at the option of the Compensation Committee, cash of equivalent value.
F3	One sixteenth of the RSUs vested on May 15, 2022 and the remainder will vest in equal quarterly installments through February 15, 2026, in each case subject to continued employment with the Issuer through each vesting date.

Remarks:

CHIEF EXECUTIVE OFFICER, PRESIDENT AND CO-FOUNDER