# EDGAR Filing Document

**Accession Number:** 0001818383
**File Stem:** 0001818383-25-000084
**Filing Date:** 2025-6
**Character Count:** 18219
**Document Hash:** d9bc7c41e5c048d6a4e81cf9fb6d4869
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001818383-25-000084.hdr.sgml**: 20250630

**ACCESSION NUMBER**: 0001818383-25-000084

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20250630

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250630

**DATE AS OF CHANGE**: 20250630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MediaAlpha, Inc.
- **CENTRAL INDEX KEY:** 0001818383
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-BUSINESS SERVICES, NEC [7389]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 851854133
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39671
- **FILM NUMBER:** 251093215

**BUSINESS ADDRESS:**
- **STREET 1:** 700 SOUTH FLOWER STREET
- **STREET 2:** SUITE 640
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90017
- **BUSINESS PHONE:** 619-393-9368

**MAIL ADDRESS:**
- **STREET 1:** 700 SOUTH FLOWER STREET
- **STREET 2:** SUITE 640
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90017

?xml version='1.0' encoding='ASCII'? max-20250630

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, DC 20549**

**_____________________________**

**FORM 8-K**

**_____________________________**

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

**Date of Report (Date of earliest event reported): June 30, 2025**

**_____________________________**

**MediaAlpha, Inc.**

(Exact Name of Registrant as Specified in Its Charter)

**_____________________________**

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| | | |
|:---|:---|:---|
| **Delaware** | **001-39671** | **85-1854133** |
| **(State or other jurisdiction**<br>**of incorporation)** | **(Commission**<br>**File Number)** | **(IRS Employer**<br>**Identification No.)** |

---

---

| | |
|:---|:---|
| **700 South Flower Street**, **Suite 640**<br>**Los Angeles**, **California** | **90017** |
| **(Address of Principal Executive Offices)** | **(Zip Code)** |

---

**(213) 316-6256**

**(Registrant's telephone number, including area code)**

**(Not Applicable)**

**(Former name or former address, if changed since last report)**

---

| | |
|:---|:---|
|  | Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (*see* General Instruction A.2. below): |
| □ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| □ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| □ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| □ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |

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Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Class A common stock, $0.01 par value | MAX | New York Stock Exchange |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).<br>Emerging growth company □<br>If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. □<br>

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**Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.** 

(e) As previously reported by the Company in its Current Reports on Form 8-K filed with the Securities and Exchange Commission on May 1, 2024 and December 18, 2024, Eugene Nonko, formerly the Chief Technology Officer of MediaAlpha, Inc. (the "Company") resigned from such position effective June 30, 2025. On that date, Mr. Nonko and the Company entered into a Fifth Amendment to Mr. Nonko's Amended and Restated Employment Agreement (the "Amendment"), providing that he would continue to be employed by the Company as Chief Architect, a non-executive individual contributor role.

In connection with the Amendment, the Compensation Committee of the Company's Board of Directors (the "Committee") approved the following compensation for Mr. Nonko for 2025:

*Base Salary.* The Committee determined that Mr. Nonko's base salary would remain unchanged at $550,000 per year for 2025.

*Cash Incentive Bonus.* As Mr. Nonko will continue to be employed by the Company for all of 2025, the Committee has reinstated his annual incentive bonus for the first half of 2025 at his previous target as Chief Technology Officer (100% of base salary), and has approved a target bonus rate of 70% of base salary for the second half of 2025 in his new position as Chief Architect, resulting in a blended target of 85% of Mr. Nonko's base salary for 2025, or $467,500. Such incentive bonus will be based on achievement of the same metrics and goals as for the other senior executives of the Company.

*Restricted Stock Units.* In March 2025, Mr. Nonko was granted a prorated award of restricted stock units ("RSUs") under the Company's 2020 Omnibus Incentive Plan (the "Plan"), reflecting his expected employment for the first half of 2025, with a grant value of $2,750,000 (which reflected 50% of his annual $5,500,000 target opportunity as Chief Technology Officer). The Committee approved an additional RSU award to Mr. Nonko, effective July 15, 2025, with a value of $750,000, representing a prorated grant in his new position for the second half of 2025 (50% of his new annual Chief Architect target opportunity of $1,500,000). The number of RSUs to be granted will be determined by dividing $750,000 by the average closing price of a share of the Company's class A common stock for the 20 trading day period ended on the Friday immediately preceding the effective grant date of such RSUs. The RSUs will vest in 16 equal quarterly installments commencing August 15, 2025, subject to Mr. Nonko's continuous service with the Company through such vesting date.

The foregoing summary does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, which is attached hereto as Exhibit 10.1 and incorporated herein by reference.

**Item 7.01 Regulation FD Disclosure**

On June 30, 2025, the Company issued a press release announcing the appointment of Amy Yeh as the Company's Chief Technology Officer. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

The information in this Item 7.01 and Exhibit 99.1 attached hereto is intended to be furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference to such filing.

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**ITEM 9.01 – Financial Statements and Exhibits.**

**(d) Exhibits**

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| | |
|:---|:---|
| **<u>Exhibit</u>**<br>**<u>No.</u>** | **<u>Description</u>** |
| 10.1 | <u>[Fifth Amendment to Amended and Restated Employment Agreement among MediaAlpha, QuoteLab, LLC and Eugene Nonko, dated June 30, 2025](exhibit101-fifthamendmentt.htm)</u> |
| 99.1 | <u>[Press release dated June 30, 2025](exhibit991-pressreleaserey.htm)</u> |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
| | **MediaAlpha, Inc.** | **MediaAlpha, Inc.** | **MediaAlpha, Inc.** |
| Date: June 30, 2025 | By: | /s/ Jeffrey B. Coyne | /s/ Jeffrey B. Coyne |
|  |  | Name: | Jeffrey B. Coyne |
|  |  | Title: | General Counsel & Secretary |

---

## Exhibit 10.1

Exhibit 10.1

**FIFTH AMENDMENT TO<br>AMENDED AND RESTATED EMPLOYMENT AGREEMENT**

This Fifth Amendment to Amended and Restated Employment Agreement (this "<u>Amendment</u>"), is made as of June 30, 2025, among MEDIAALPHA, INC., a Delaware corporation ("<u>Parent</u>"), QUOTELAB, LLC, a Delaware limited liability company (the "<u>Company</u>"), and EUGENE NONKO (the "<u>Executive</u>"). Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Employment Agreement (as defined below).

**RECITALS**

&nbsp;&nbsp;&nbsp;&nbsp;A.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, Parent, the Company and the Executive are parties to that certain Amended and Restated Employment Agreement dated as of October 27, 2020, as amended by that certain First Amendment to Amended and Restated Employment Agreement dated as of March 22, 2022, that certain Second Amendment to Amended and Restated Employment Agreement dated as of August 1, 2023, that certain Third Amendment to Amended and Restated Employment Agreement dated as of May 20, 2024, and that certain Fourth Amendment to Amended and Restated Employment Agreement dated as of February 4, 2025 (as so amended, the "<u>Employment Agreement</u>"); and

&nbsp;&nbsp;&nbsp;&nbsp;B.&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the parties desire to amend certain provisions of the Employment Agreement, as more particularly set forth herein.

**AGREEMENT**

&nbsp;&nbsp;&nbsp;&nbsp;In consideration of the foregoing and the mutual covenants and agreements herein contained, and intending to be legally bound hereby, the parties agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendments to Section 3</u>. The references to "Chief Technology Officer" in Section 3 of the Employment Agreement are hereby replaced with "Chief Architect."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendment of Section 4(c)</u>. Section 4(c) of the Employment Agreement is hereby amended and restated in its entirety to read as follows:

&nbsp;&nbsp;&nbsp;&nbsp;"(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Annual Bonus</u>. During the Term, the Executive shall be eligible to receive an annual cash incentive payment under the Company's annual bonus plan as may be in effect from time to time (the "Annual Bonus") based on a target bonus opportunity of 70% of the Executive's Base Salary (the "Target Bonus"), upon the attainment of one or more pre-established performance goals established by the Board or the Committee in good faith in consultation with the Executive. For fiscal 2025, the Target Bonus shall be 85% of the Executive's Base Salary, reflecting a blend between his prior target bonus opportunity of 100% and the new target bonus opportunity of 70%. The Annual Bonus, if any, shall be paid in a single lump sum during the calendar year following the calendar year with respect to which it is earned and as soon as reasonably practicable (but in any event, within thirty (30) days) following completion of the annual audit of the Company's

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financial statements (on a consolidated basis) for the year to which the bonus relates, or such earlier date as is approved by the Board or the Committee, and any earned annual bonus shall not be subject to further vesting or, except as may be elected by the Executive in compliance with Code Section 409A (defined below), deferral."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendment and Ratification</u>. Except as specifically amended hereby, all terms, conditions, covenants, representations, and warranties contained in the Employment Agreement shall remain in full force and effect and shall be binding upon the parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Entire Agreement</u>. The Employment Agreement (including the Schedules thereto), in each case as amended hereby, together with the Executive's Confidential Information and Inventions Agreement, constitute the entire agreement, and supersede all prior written agreements, arrangements, communications and understandings and all prior and contemporaneous oral agreements, arrangements, communications and understandings between the parties with respect to the subject matter hereof and thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;<u>Governing Law</u>. This Amendment and all disputes or controversies arising out of or relating to this Amendment or the transactions contemplated hereby shall be governed by, and construed in accordance with, the internal laws of the State of Delaware, without regard to the laws of any other jurisdiction that might be applied because of the conflicts of laws principles of the State of Delaware.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;<u>Counterparts</u>. This Amendment may be executed in two or more counterparts, all of which shall be considered one and the same instrument and shall become effective when one or more counterparts have been signed by each of the parties and delivered to the other party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;<u>Facsimile or .pdf Signature</u>. This Amendment may be executed by facsimile or .pdf signature and a facsimile or .pdf signature shall constitute an original for all purposes.

[*Signature page follows*]

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IN WITNESS WHEREOF, the parties have caused this Amendment to be executed as of the date first written above.

**MEDIAALPHA, INC.**<br>By: <u>/s/ Jeffrey B. Coyne&nbsp;&nbsp;&nbsp;&nbsp;</u> <br> Name: Jeffrey B. Coyne<br> Title: General Counsel

**QUOTELAB, LLC**<br>By: <u>/s/ Jeffrey B. Coyne&nbsp;&nbsp;&nbsp;&nbsp;</u> <br> Name: Jeffrey B. Coyne<br> Title: General Counsel

**EXECUTIVE**

<u>/s/ Eugene Nonko&nbsp;&nbsp;&nbsp;&nbsp;</u>

&nbsp;&nbsp;&nbsp;&nbsp;Eugene Nonko

[SIGNATURE PAGE TO FIFTH AMENDMENT TO EMPLOYMENT AGREEMENT]

## Exhibit 99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE<br>

**MediaAlpha Appoints Amy Yeh as Chief Technology Officer**

LOS ANGELES, CA, June 30, 2025 (GLOBE NEWSWIRE) — MediaAlpha, Inc. (NYSE: MAX) ("MediaAlpha" or the "Company") the leading marketing technology platform powering real-time customer acquisition for the insurance industry, today announced the promotion of Amy Yeh to Chief Technology Officer (CTO), effective immediately. Amy's promotion is part of a previously announced leadership transition whereby Eugene Nonko, MediaAlpha's Co-founder and CTO, is taking on a new role while continuing to serve on the Company's Board of Directors.

Amy joined MediaAlpha in 2015 and most recently served as SVP, Technology. Over the past decade, she has played a pivotal role in scaling the Company's engineering organization and technology infrastructure while championing a strong culture rooted in transparency, collaboration, and excellence. Her leadership has been instrumental in driving product innovation, improving platform reliability, and enabling operational scale across MediaAlpha's insurance marketplace.

As CTO, Amy will oversee all aspects of technology strategy and execution, with a continued focus on accelerating platform evolution, strengthening engineering practices, and empowering high-performing teams.

"Amy has been a force multiplier across every dimension of our engineering team," said Steve Yi, MediaAlpha Co-Founder and CEO. "She brings deep technical expertise, operational rigor, and a genuine passion for developing teams that thrive. We expect a seamless transition as Amy steps into the CTO role and continues advancing our technology platform with confidence and purpose."

Eugene Nonko, who co-founded MediaAlpha in 2011 and has served as its CTO since inception, will take on the newly created role of Chief Architect. In this capacity, he will focus on long-range technical vision, key architectural initiatives, and the Company's innovation roadmap.

"I'm incredibly proud of the foundation we've built, both technically and culturally," said Eugene. "In my next chapter at MediaAlpha, I'm excited to focus on long-term architecture and innovation and I have every confidence that, under Amy's leadership, our technology teams will continue to deliver for our partners."

"It's a tremendous honor to step into the CTO role at MediaAlpha," said Amy Yeh. "I'm deeply grateful for Eugene's mentorship and the strong engineering foundation he's built. My priority is to carry forward our culture of openness, technical excellence, and

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Exhibit 99.1

continuous learning while delivering scalable solutions that move our business and clients forward."

About MediaAlpha

We believe we are the insurance industry's leading programmatic customer acquisition platform. With more than 1,200 active partners, excluding our agent partners, we connect insurance carriers with online shoppers and generated nearly 119 million Consumer Referrals in 2024. Our programmatic advertising technology powered $1.5 billion in spend for 2024 on brand, comparison, and metasearch sites across property & casualty insurance, health insurance, life insurance, and other industries. For more information, please visit www.mediaalpha.com.

Media Relations Contact:

<u>PR@mediaalpha.com</u>

Investor Contact:

<u>Investors@mediaalpha.com</u>

<br>