Deitzel Edward 4

What Happened
Edward Deitzel, EVP, Chief Risk Officer and Chief Compliance Officer of Miami International Holdings (MIAX), exercised 11,000 stock options at $12.00 per share (cost $132,000) on 2026-05-04 and sold the resulting 11,000 shares the same day in the open market for a weighted average price of $47.28, generating gross proceeds of $520,080. The derivative instrument (the option) was reported disposed at $0 because it was converted into shares. The filing shows the options were fully vested.

Key Details

• Transaction date: 2026-05-04 (Form 4 filed 2026-05-05) — filing appears timely.
• Exercise: 11,000 options exercised at $12.00 each = $132,000 (code M).
• Sale: 11,000 shares sold in open market at weighted avg $47.28 = $520,080 (code S); trade prices ranged $46.92–$47.65 (footnote F2).
• Derivative disposition: 11,000 option units reported disposed at $0 as part of the exercise/conversion (footnote F3 notes options were fully vested).
• Plan: Sale was effected pursuant to a previously established Rule 10b5‑1 trading plan adopted 12/30/2025 (footnote F1).
• Shares owned after transaction: not specified in the filing.

Context
Because the options were exercised and the resulting shares were sold the same day, this is effectively a cashless/near‑immediate sale of exercised shares rather than a long‑term purchase. The 10b5‑1 plan indicates the sale was preplanned and executed under an automated trading arrangement. This record is factual trading activity by an executive and does not, by itself, indicate the insider’s future views of the company.