{"schema_version":"secwatch.filing_event.v1","accession":"0001818383-26-000173","form_type":"8-K","ticker":"MAX","cik":"0001818383","company_name":"MediaAlpha, Inc.","filed_at":"2026-06-29T20:31:54+00:00","discovered_at":"2026-06-29T20:33:00.216424+00:00","generated_at":"2026-06-29T20:33:12.873931+00:00","sec_items":["1.01","9.01"],"event_type":"other_material","sentiment":"positive","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"MediaAlpha buys out Insignia TRA interest for $31M cash, cutting liability by 55%","bullets":["Paid $31M cash to purchase Insignia's TRA interest at 55% discount to its $68.7M estimated value as of March 31, 2026.","Total TRA liability estimated to fall from $123.4M to ~$55M after transaction.","Funded from cash on hand and revolver borrowings; QLH made pro rata distribution to members including directors and officers.","Remaining TRA obligations to other counterparties continue; deal approved by independent board directors."],"urls":{"canonical":"https://secwatch.observer/filing/0001818383-26-000173","json":"https://secwatch.observer/filing/0001818383-26-000173.json","markdown":"https://secwatch.observer/filing/0001818383-26-000173.md","text":"https://secwatch.observer/filing/0001818383-26-000173.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1818383/000181838326000173/0001818383-26-000173-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1818383/000181838326000173/max-20260625.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-29T20:33:12.873931+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}