HORIZON KINETICS ASSET MANAGEMENT LLC 4
4 · MIAMI INTERNATIONAL HOLDINGS, INC. · Filed Mar 4, 2026
Insider Transaction Report
Form 4
STAHL MURRAY
Director
Transactions
- Exercise of In-Money
Common Stock
[F1]2026-03-02$15.00/sh+21,290$319,350→ 4,581,654 total(indirect: By LLC) - Exercise of In-Money
Common Stock
[F1]2026-03-02$20.50/sh+91,366$1,873,003→ 4,673,020 total(indirect: By LLC) - Exercise of In-Money
Common Stock
[F1]2026-03-02$20.00/sh+137,500$2,750,000→ 4,810,520 total(indirect: By LLC) - Sale
Common Stock
[F1]2026-03-02$40.92/sh−121,054$4,953,530→ 4,689,466 total(indirect: By LLC) - Exercise of In-Money
Warrant (right to buy)
2026-03-02−21,290→ 0 total(indirect: By LLC)Exercise: $15.00From: 2025-08-13Exp: 2026-04-08→ Common Stock (21,290 underlying) - Exercise of In-Money
Warrant (right to buy)
2026-03-02−24,878→ 0 total(indirect: By LLC)Exercise: $20.50From: 2025-08-13Exp: 2026-11-15→ Common Stock (24,878 underlying) - Exercise of In-Money
Warrant (right to buy)
2026-03-02−27,561→ 0 total(indirect: By LLC)Exercise: $20.50From: 2025-08-13Exp: 2027-02-05→ Common Stock (27,561 underlying) - Exercise of In-Money
Warrant (right to buy)
2026-03-02−38,927→ 0 total(indirect: By LLC)Exercise: $20.50From: 2025-08-13Exp: 2026-10-17→ Common Stock (38,927 underlying) - Exercise of In-Money
Warrant (right to buy)
2026-03-02−137,500→ 0 total(indirect: By LLC)Exercise: $20.00From: 2025-08-13Exp: 2027-08-09→ Common Stock (137,500 underlying)
Holdings
- 7,500
Options
[F2]Exercise: $16.14From: 2025-08-13Exp: 2031-07-31→ Miami International Holdings Inc (7,500 underlying) - 10,000
Options
[F2]Exercise: $25.98From: 2025-08-13Exp: 2032-06-30→ Miami International Holdings Inc (10,000 underlying) - 14,331
Options
[F2]Exercise: $19.84From: 2025-08-13Exp: 2033-03-26→ Miami International Holdings Inc (14,331 underlying) - 2,500
Options
[F2]Exercise: $16.14From: 2025-08-13Exp: 2031-05-31→ Miami International Holdings Inc (2,500 underlying)
Footnotes (2)
- [F1]Horizon Kinetics Asset Management LLC (HKAM) exercised warrants to purchase 341,522 shares of common stock at the exercise prices noted. HKAM paid the exercise price on a cashless basis, resulting in the Issuer withholding 121,054 of the warrant shares to pay the exercise price and issuing to HKAM the remaining 129,102 shares.
- [F2]The Options given to Mr. Stahl are fully vested.
Signature
/s/Jay Kesslen, attorney-in-fact|2026-03-03