Welcome to our dedicated page for Mediaalpha SEC filings (Ticker: MAX), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
This page provides access to MediaAlpha, Inc.’s (NYSE: MAX) U.S. Securities and Exchange Commission (SEC) filings, along with AI‑supported tools that help explain the contents of each document. MediaAlpha files Form 10‑K annual reports, Form 10‑Q quarterly reports, and Form 8‑K current reports, which together offer a detailed view of the company’s financial condition, operating performance, governance, and material events.
In its periodic reports, MediaAlpha presents consolidated financial statements, including balance sheets, statements of operations, and cash flow statements, as well as discussions of non‑GAAP measures such as Adjusted EBITDA, Contribution, and Contribution Margin. The filings also describe key operating metrics like Transaction Value, which management and the board of directors use to evaluate operating performance and efficiency. Our AI tools can highlight how these measures relate to MAX’s reported revenue, costs, and profitability across insurance verticals.
MediaAlpha’s Form 8‑K filings document significant developments, including earnings releases and shareholder letters, amendments to its credit agreement, share repurchase agreements, Board and executive changes, and amendments to its by‑laws. For example, recent 8‑Ks describe a Third Amendment to the company’s senior secured credit facilities through its subsidiaries, a private stock repurchase from entities affiliated with Insignia Capital Group, the authorization of a $50 million share repurchase program, Board transitions as the company ceased to be a controlled company, and the adoption of Amended and Restated By‑Laws.
Other 8‑K filings summarize the FTC settlement relating to the under‑65 health sub‑vertical and outline additional compliance measures, as well as leadership changes such as the appointment of a new Chief Technology Officer and the transition of the former CTO to Chief Architect. Our platform surfaces these items and uses AI to extract key terms, governance changes, and risk‑related disclosures so that readers can quickly understand what each filing means for MAX stock and MediaAlpha’s business.
MediaAlpha, Inc. director and officer Steven Yi reported open-market sales of a total of 12,000 shares of Class A Common Stock over three days. The shares were sold in 4,000-share blocks on March 30, March 31, and April 1 at prices around $9 per share.
The sales were made under a pre-established Rule 10b5-1 trading plan primarily to cover taxes from the vesting of RSUs, indicating they were planned and tax-driven rather than discretionary timing trades. After these transactions, Yi still directly holds 3,031,247 shares.
MediaAlpha, Inc. filed a Form 144 disclosing proposed sales of Common stock by Steven Yi. The notice lists multiple planned or reported transactions across January–March 2026, with individual sales such as 8,000 shares on 01/05/2026 and a larger block of 39,252 shares on 03/02/2026.
The excerpt shows many dated transactions with share counts and dollar figures for each trade; total aggregate proceeds are not stated as a single number in the provided content.
MediaAlpha, Inc., through subsidiaries QuoteLab and QL Holdings, entered into an amended and restated credit agreement. The new facility includes a five-year senior secured term loan of $150 million to refinance existing term debt and support general corporate purposes, plus a five-year senior secured revolving credit facility with $60 million in commitments.
Both facilities are guaranteed by QL Holdings and secured by substantially all assets of the borrower and guarantor. Borrowings accrue interest at Term SOFR, Daily Simple SOFR or an Alternate Base Rate, each plus a margin tied to the borrower’s consolidated total net leverage ratio, ranging from 2.00%–3.00% for SOFR-based loans and 1.00%–2.00% for Alternate Base Rate loans. The loans mature on March 25, 2031 and the term loan amortizes quarterly starting with the quarter ending June 30, 2026.
MediaAlpha, Inc. Chief Technology Officer sells shares under a pre-set plan. CTO Yeh Kuanling Amy sold 3,000 shares of Class A common stock at $9.44 per share in an open-market transaction. The sale was executed under a previously adopted Rule 10b5-1 trading plan primarily to cover taxes from vesting RSUs, and she still directly holds 577,879 shares after the transaction.
MediaAlpha, Inc. director and officer Steven Yi reported selling a total of 12,000 shares of Class A common stock in open-market transactions over three days. He sold 4,000 shares on each of March 23, March 24, and March 25, 2026 at weighted-average prices of $9.67, $9.4763, and $9.4155 per share, respectively, in trades executed across price ranges disclosed in the footnotes. The filing states these sales were made under a pre-arranged Rule 10b5-1 trading plan primarily to cover taxes from vesting RSUs. Following the last sale, Yi directly holds 3,043,247 shares of Class A common stock.
MediaAlpha, Inc. is asking stockholders to vote at its 2026 virtual-only annual meeting on May 5, 2026. The proxy seeks approval to elect two Class III directors, Venmal (Raji) Arasu and Kathy Vrabeck, to serve until the 2029 meeting, and to ratify PricewaterhouseCoopers LLP as auditor for 2026.
Holders of Class A and Class B common stock as of March 11, 2026 may vote, with 55,169,591 Class A shares and 8,288,267 Class B shares outstanding. A stockholders’ agreement covering 46% of shares supports the board’s nominees. The board highlights strong governance: 71% independent directors, 43% women, 43% racially or ethnically diverse, and independent chairs for the board and all committees.
The filing also reviews 2025 performance, noting record results including a 45% year-over-year increase in total Transaction Value to $2.2 billion and an 18% rise in Adjusted EBITDA to $113.7 million. Executive pay is heavily performance-based, with 91% of the CEO’s 2025 target compensation and an average of 84% for other named executives in at-risk incentives.
MediaAlpha, Inc. announced that director Lara Sweet will not stand for reelection at the 2026 annual meeting for personal reasons, so her term will end on May 5, 2026. The board’s Nominating and Corporate Governance Committee has begun searching for a replacement, and Kathy Vrabeck is expected to serve as interim Audit Committee Chair.
The Compensation Committee also changed 2026 long-term incentives for executive officers so that 25% of target value is in performance share units and 75% in time-based restricted share units. The performance units are tied to Adjusted EBITDA goals for fiscal 2026, 2027, and 2028, with payouts ranging from 0% to 200% of target based on preset thresholds.
MediaAlpha, Inc. director and officer Steven Yi reported an open-market sale of Class A common stock. He sold 4,000 shares at a price of $9.59 per share and now holds 3,055,247 shares directly after the transaction. According to a footnote, the sale was made under a pre-arranged Rule 10b5-1 trading plan primarily to cover taxes from vesting restricted stock units (RSUs), indicating this was a planned, tax-related liquidity event rather than a discretionary trade.
MediaAlpha, Inc. director and officer Steven Yi reported a mix of stock sales and equity awards. He sold 9,227 shares of Class A common stock in open-market transactions on March 16, 2026 and March 17, 2026 at weighted-average prices around $9.94 per share, leaving him with 3,059,247 shares held directly. The company notes these sales were made under a pre-arranged Rule 10b5-1 trading plan primarily to cover taxes from restricted stock unit vesting.
On March 15, 2026, Yi received 448,500 restricted stock units under MediaAlpha’s Omnibus Incentive Plan, each representing one future share upon vesting. One sixteenth of these RSUs will vest on May 15, 2026, with the rest vesting quarterly over the following four years, subject to continued employment.
He was also granted 149,550 performance-based restricted stock units tied to Adjusted EBITDA goals for fiscal 2026, 2027, and 2028. One-third of the PRSU target for each year is linked to threshold, target, and maximum performance levels, corresponding to 50%, 100%, and 200% of target shares. Any earned PRSUs remain subject to service-based vesting through the three-year period and, if approved by the Compensation Committee upon achievement of the performance measures, will settle on March 15, 2029.