COYNE JEFFREY B 4

What Happened

• Jeffrey B. Coyne, General Counsel and Secretary of MediaAlpha (MAX), disposed of a total of 14,231 shares on May 15, 2026 for aggregate proceeds of $114,787. Transactions included four issuer-withheld amounts to cover tax withholding on vested RSUs (9,231 shares at $8.05 each) and an open-market sale of 5,000 shares at an average price of $8.10 ($40,477).

Key Details

• Transaction breakdown:
  • 1,808 shares withheld @ $8.05 = $14,554 (tax withholding)
  • 1,573 shares withheld @ $8.05 = $12,663 (tax withholding)
  • 3,233 shares withheld @ $8.05 = $26,026 (tax withholding)
  • 2,617 shares withheld @ $8.05 = $21,067 (tax withholding)
  • 5,000 shares sold open market @ $8.10 = $40,477 (disposed)
• Total shares disposed: 14,231; total proceeds: $114,787.
• Footnotes: issuer withheld shares to cover tax obligations on previously reported RSUs (F1); the open-market sale was effected under a Rule 10b5-1 trading plan primarily to cover taxes (F2); weighted-average sale prices for multiple trades ranged $8.025–$8.195 and the filer will provide per-price details on request (F3).
• Filing timeliness: Transaction dated May 15, 2026; Form 4 filed May 19, 2026 — appears to be timely (filed within the two business-day SEC window).

Context

• These were dispositions, not purchases. The majority (9,231 shares) were shares withheld by the issuer to satisfy tax-withholding obligations when RSUs vested (a routine administrative step). The 5,000-share sale was carried out under a pre-established Rule 10b5-1 plan, which typically indicates the trades were scheduled in advance and are not necessarily a contemporaneous signal of the insider’s view. Shares owned after the transactions were not provided in the excerpt of the filing.