Jayabalan Harish 4

What Happened
Jayabalan Harish, EVP, CISO and CRO of Miami International Holdings, Inc. (MIAX), exercised 20,000 stock options (reported as three M transactions) at an exercise price of $12.00 per share (total cost $240,000) and sold 20,000 common shares in the open market on July 6, 2026 for aggregate proceeds of $842,400. The sale was executed under a pre-established Rule 10b5-1 trading plan.

Key Details

• Transaction date: 2026-07-06; Form 4 filed 2026-07-07 (appears timely).
• Options exercised: 834 shares ($10,008), 16,667 shares ($200,004), 2,499 shares ($29,988) — total 20,000 shares acquired at $12.00 each (code M).
• Sale: 20,000 shares sold (open market) at a weighted average price of $42.12 for $842,400 (code S). Prices ranged $42.00–$42.32; multiple trades (footnote F2).
• Footnotes: transaction executed pursuant to a Rule 10b5-1 plan adopted March 9, 2026 (F1); options are fully vested (F3).
• The $0.00 “Disposed” entries reflect conversion of the derivative into shares on exercise (accounting reporting), not an additional cash sale.
• Shares owned after the transaction are not specified in the excerpt of the filing — check the full Form 4 for post-transaction holdings.

Context
This is an exercise-and-sell (same-day) transaction: Harish exercised vested options and sold the resulting shares the same day under a 10b5-1 plan, a common approach for liquidity or tax management. The filing is factual and pre-planned under an established trading plan; it should not be read as a statement of his view on the company’s prospects.