Arasu Venmal (Raji) 4

What Happened

• Raji Arasu, a director of MediaAlpha, was granted 20,750 restricted stock units (RSUs) on May 5, 2026. The Form 4 records the acquisition type as an award (code A) at $0.00 per unit (reported acquisition value $0). Each RSU is a contingent right to one share of Class A common stock upon vesting.

Key Details

• Transaction date: 2026-05-05; Form 4 filed: 2026-05-07 (appears timely)
• Award details: 20,750 RSUs; price reported $0.00; acquisition code A (award/grant)
• Shares owned after transaction: not specified in the filing
• Vesting: all RSUs vest on the earlier of the first anniversary of the grant date or the date of the Issuer’s 2027 Annual Meeting, subject to continued service (per footnote)
• Footnote: RSUs convert to one share each upon vesting; no immediate share issuance — contingent on service and vesting conditions

Context

• This was an equity award (not an open-market purchase or sale). Awards to directors are common as compensation for board service and do not, by themselves, indicate a buy/sell signal. Because these RSUs are subject to time-based vesting, the recipient does not yet have immediately tradable shares.