MIAX EVP Jayabalan Harish Exercises 8,333 Options

What Happened
Jayabalan Harish, EVP, CISO and CRO of Miami International Holdings, Inc. (MIAX), exercised 8,333 stock options on 2026-09-25 by paying $12.00 per share ($99,996 total) to acquire 8,333 shares. The filing also shows a matching disposition entry for 8,333 derivative units at $0, consistent with canceling the option instrument upon exercise. There is no sale of the acquired shares reported in this filing.

Key Details

• Transaction date: 2026-09-25 (reported on Form 4 filed 2026-09-29)
• Acquired: 8,333 shares via option exercise at $12.00/share — total cash paid $99,996
• Disposed: 8,333 derivative units at $0.00 (reflects cancellation/surrender of the exercised options)
• Footnote: F1 — the options were fully vested at time of exercise
• Shares owned after the transaction: Not specified in the provided filing

Context
This was an option exercise (transaction code M). The filing does not show an immediate sale of the newly acquired shares (not a cashless exercise or open-market sale). Option exercises are routine for executives to convert vested equity into common shares; they are not, by themselves, a directional buy or sell signal.