Nonko Eugene 4

What Happened

• Eugene Nonko, a director of MediaAlpha, sold a total of 36,300 shares of MAX in a series of open-market transactions on Jan 26–28, 2026. Individual reported trades:
  • 2026-01-26: 5,400 shares @ $10.87 = $58,691
  • 2026-01-27: 5,400 shares @ $10.52 = $56,830
  • 2026-01-28: 5,400 shares @ $10.58 = $57,146
  • 2026-01-26: 6,700 shares @ $10.85 = $72,700
  • 2026-01-27: 6,700 shares @ $10.51 = $70,434
  • 2026-01-28: 6,700 shares @ $10.57 = $70,811
• Aggregate proceeds across these sales were about $386,612. These are sales (not purchases) and are typically viewed as routine liquidity or tax-related transactions rather than explicit bullish signals.

Key Details

• Transaction dates: January 26–28, 2026. Prices ranged roughly from $10.51 to $10.87 on the reported lines; filing footnotes disclose weighted‑average ranges across multiple executions (approx. $10.40–$10.985).
• Shares owned after transaction: Not specified in the provided summary (the Form 4 excerpt did not state post-transaction beneficial ownership).
• Notable footnotes: Footnote F1 states the sales were effected under a Rule 10b5‑1 trading plan previously adopted by the reporting person, primarily to cover taxes from RSU vesting. Other footnotes (F2–F7) note the weighted‑average price ranges and that the reporter will provide per‑price breakdowns on request.
• Filing: Report filed with accession 0001818383-26-000021 on 2026-01-28 covering transactions from 2026-01-26 to 2026-01-28.

Context

• 10b5‑1 trading plans allow insiders to sell according to preset rules even if they later possess material nonpublic information; such sales are commonly used for tax withholding when RSUs vest. These trades therefore often reflect routine obligations, not necessarily a change in the director’s view of the company.
• For retail investors, purchases are generally taken as a stronger positive signal than routine sales. This filing is informational; avoid inferring motive beyond the stated 10b5‑1/tax purpose.