Brown Shelly 4

What Happened
Shelly Brown, Executive Vice President and Chief Strategy Officer of Miami International Holdings, sold a total of 3,257 shares in open-market transactions. On 2026-04-06 she disposed of 2,357 shares at a weighted average price of $41.33 for proceeds of $97,415; on 2026-04-07 she sold 900 shares at $42.00 for $37,800. These were sales (not purchases) and were executed pursuant to a pre-established Rule 10b5-1 trading plan, indicating the trades were planned in advance rather than discretionary moves.

Key Details

• Transaction dates and prices:
  • 2026-04-06: 2,357 shares, weighted average $41.33 (range $40.10–$41.79 reported), proceeds $97,415. (Footnote reports multiple trades that day; weighted avg shown.)
  • 2026-04-07: 900 shares at $42.00, proceeds $37,800.
• Total disposed: 3,257 shares for total proceeds of approximately $135,215.
• Shares owned after the transactions: not specified in the Form 4 filing.
• Notable footnotes:
  • Transactions were executed under a Rule 10b5-1 plan adopted by the reporting person on December 22, 2025 (pre-arranged sales).
  • The Apr 6 sale was executed in multiple trades; the filer offers to provide detailed trade-by-trade prices/quantities on request.
• Filing timeliness: Form 4 filed on 2026-04-08 reporting transactions on 2026-04-06; this appears to be a timely filing (within the normal two-business-day reporting window).

Context
Sales executed under 10b5-1 plans are pre-scheduled and are generally treated as routine liquidity events rather than direct signals of insider sentiment. For retail investors, purchases are typically more informative about insider confidence; in this case the filing documents planned sales by a senior executive.