MediaAlpha, Inc. — Director's Dealing 2021

May 4, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MediaAlpha, Inc. (MAX)
CIK: 0001818383
Period of Report: 2021-04-30

Reporting Person: Arasu Venmal (Raji) (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-04-30	Class A Common Stock	M	1316	$0.00	Acquired	2631	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-04-30	Restricted Stock Units	$0.00	M	1316	Disposed		Class A Common Stock (1316)	Direct

Footnotes

F1: One share of Class A Common Stock was issued upon the vesting of each Restricted Stock Unit ("RSU").

F2: Each RSU represents a contingent right to receive one share of Class A Common Stock, or at the option of the Compensation Committee, cash of equivalent value.

F3: On October 30, 2020, the Reporting Person was granted 15,790 RSUs in connection with the Reporting Person's appointment to the Issuer's board of directors, which have vested or will vest quarterly over the first three years following the date of grant, subject to continued service through the applicable vesting date.