MediaAlpha, Inc. Appoints New CFO; Updates Q3 2026 Guidance

What Happened
MediaAlpha, Inc. (MAX) filed an 8-K reporting that its Board approved the appointment of Tigran Sinanyan as Chief Financial Officer and Treasurer, principal financial officer and principal accounting officer effective October 1, 2026. Sinanyan (age 44) has been SVP, Finance & Corporate Development since July 2025 and previously served as the company’s CFO (2015–2021). Current CFO Patrick Thompson notified the company on September 2, 2026 that he will step down; his last day of employment is October 30, 2026 and he will serve as a consultant through February 26, 2027. Thompson confirmed his departure is not due to any disagreement with the company on accounting or other matters. The company also furnished a press release updating that it now expects third-quarter 2026 Revenue, Contribution, and Adjusted EBITDA to be at or above the top end of its previously disclosed guidance ranges.

Key Details

• Tigran Sinanyan’s employment: effective Oct 1, 2026; annual base salary $475,000; 2026 target bonus set at $293,200 (weighted for role change); 2027 target bonus = 70% of base salary.
• Equity: Sinanyan to receive RSUs with a grant-date value of $252,100, vesting over four years (shares determined by 10-day average stock price before appointment).
• Severance/termination protections: for a qualifying termination (not for Cause or resignation for Good Reason), Sinanyan is entitled to 12 months of salary continuation, prorated target bonus (minimum six months), accelerated vesting for awards scheduled to vest in the following 12 months, and 12 months of company health contributions; additional benefits apply around a change of control (extra 6 months pay, further accelerated vesting, extra 6 months health contributions).
• Transition: Patrick Thompson will assist with handover through Oct 1, remain employed until Oct 30, 2026, and then consult through Feb 26, 2027 while continuing to vest RSUs scheduled through that date.

Why It Matters
A planned internal CFO transition with an overlap and consulting arrangement aims to provide continuity in financial leadership and reporting during the handoff. The employment terms (salary, bonus targets, RSUs and severance/COC protections) set clear compensation and potential severance obligations that investors should note for near-term expense and equity-vesting considerations. Separately, the company’s update that Q3 2026 Revenue, Contribution and Adjusted EBITDA are at or above the top end of prior guidance is a positive operational signal for the quarter and is material information for shareholders assessing near-term performance.