Gallagher Thomas P. 4
4 · MIAMI INTERNATIONAL HOLDINGS, INC. · Filed Jul 7, 2026
Research Summary
AI-generated summary of this filing
MIAX CEO Thomas P. Gallagher Exercises Options, Sells Shares
What Happened
Thomas P. Gallagher, Chairman, CEO and Director of Miami International Holdings, Inc. (MIAX), exercised a total of 70,000 stock options (fully vested) at a $12.00 strike and immediately sold the resulting 70,000 shares in open-market transactions. He exercised 41,772 options on 2026-07-06 (cost $501,264) and sold those shares for a weighted average price of $42.09 (proceeds $1,758,183). He exercised the remaining 28,228 options on 2026-07-07 (cost $338,736) and sold those shares for a weighted average price of $42.27 (proceeds $1,193,198). Total exercise cost = $840,000; total gross sale proceeds ≈ $2,951,381.
Key Details
- Transaction dates: 2026-07-06 (41,772 shares) and 2026-07-07 (28,228 shares).
- Exercise price: $12.00 per share; sale weighted average prices: $42.09 (7/6, range $42.00–$42.32) and $42.27 (7/7, range $42.00–$42.50).
- Total exercised: 70,000 options; total sold: 70,000 shares.
- Total exercise cost: $840,000; total reported sale proceeds: ≈ $2,951,381.
- Footnotes: one of the transactions was effected under a previously established Rule 10b5-1 trading plan (adopted 12/29/2025). The sales were executed in multiple trades (weighted-average prices reported). The options were fully vested. Mr. Gallagher retains beneficial ownership/control of Gallagher Investments, LLC.
- Shares owned after transaction: not specified in the provided filing excerpt.
- Filing timeliness: Form 4 was filed 2026-07-07 for transactions dated 2026-07-06–07; this appears to be timely (not marked late).
Context
- This sequence is a common pattern: exercising vested options and immediately selling the shares (effectively realizing the spread between market price and strike). The derivative "disposals" at $0 reported reflect the conversion of option instruments into common shares upon exercise.
- The presence of a 10b5-1 plan for at least one sale indicates at least part of the selling was preplanned, which is routine for company insiders managing tax or diversification events.
- Facts only — this summary does not infer Mr. Gallagher’s motivations beyond what the filing states.
Insider Transaction Report
Form 4
Gallagher Thomas P.
DirectorChairman & CEO
Transactions
- Exercise/Conversion
Common Stock
[F1][F2]2026-07-06$12.00/sh+41,772$501,264→ 1,765,047 total(indirect: By LLC) - Sale
Common Stock
[F1][F3][F2]2026-07-06$42.09/sh−41,772$1,758,183→ 1,723,275 total(indirect: By LLC) - Exercise/Conversion
Common Stock
[F1][F2]2026-07-07$12.00/sh+28,228$338,736→ 1,751,503 total(indirect: By LLC) - Sale
Common Stock
[F1][F4][F2]2026-07-07$42.27/sh−28,228$1,193,198→ 1,723,275 total(indirect: By LLC) - Exercise/Conversion
Nonqualified Stock Option (Right to Buy)
[F1][F5][F2]2026-07-06−41,772→ 98,228 total(indirect: By LLC)Exercise: $12.00Exp: 2026-08-02→ Common Stock (41,772 underlying) - Exercise/Conversion
Nonqualified Stock Option (Right to Buy)
[F1][F5][F2]2026-07-07−28,228→ 70,000 total(indirect: By LLC)Exercise: $12.00Exp: 2026-08-02→ Common Stock (28,228 underlying)
Footnotes (5)
- [F1]This transaction was effected pursuant to a previously established Rule 10b5-1 Plan adopted by the Reporting Person on December 29, 2025.
- [F2]Mr. Gallagher maintains beneficial ownership, including dispositive and voting control, over Gallagher Investments, LLC.
- [F3]This transaction was executed in multiple trades throughout the day at prices ranging from $42.00 to $42.32. The price reported above reflects the weighted average sales price. The Reporting Person hereby undertakes to provide upon request to the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.
- [F4]This transaction was executed in multiple trades throughout the day at prices ranging from $42.00 to $42.50. The price reported above reflects the weighted average sales price. The Reporting Person hereby undertakes to provide upon request to the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.
- [F5]The options are fully vested.
Signature
/s/Alessandra Maria Corona Henriques, Attorney-in-Fact|2026-07-07