---
schema_version: "secwatch.filing_event.v1"
accession: "0001818383-26-000231"
form_type: "8-K"
ticker: "MAX"
cik: "0001818383"
company_name: "MediaAlpha, Inc."
filed_at: "2026-09-09T13:02:26+00:00"
generated_at: "2026-09-09T13:03:04.566074+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# MediaAlpha buys out PLX's TRA interest for $12M, cutting liability by $10.7M (47% discount)

## Summary
- Purchased PLX's interest in Tax Receivables Agreement for $12.0M cash, a 47% discount to $22.7M estimated value.
- Estimated total TRA liability drops from $54.7M (June 30, 2026) to ~$32M after deal (Sept 30, 2026).
- Transaction approved by independent directors; funded from subsidiary cash via pro rata QLH distribution.
- Remaining TRA payments continue with other counterparties; no change of control or early termination.

## SEC filing metadata
- accession: 0001818383-26-000231
- form_type: 8-K
- ticker: MAX
- cik: 0001818383
- company_name: MediaAlpha, Inc.
- filed_at: 2026-09-09T13:02:26+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1818383/000181838326000231/0001818383-26-000231-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1818383/000181838326000231/max-20260909.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001818383-26-000231
- JSON: https://secwatch.observer/filing/0001818383-26-000231.json
- Plain text: https://secwatch.observer/filing/0001818383-26-000231.txt

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