---
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"
generated_at: "2026-06-29T20:33:12.873931+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# MediaAlpha buys out Insignia TRA interest for $31M cash, cutting liability by 55%

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: other_material
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001818383-26-000173
- JSON: https://secwatch.observer/filing/0001818383-26-000173.json
- Plain text: https://secwatch.observer/filing/0001818383-26-000173.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.