MIAMI INTERNATIONAL (MIAX) Shelly Brown Exercises Options and Sells Shares

What Happened Shelly Brown, EVP and Chief Strategy Officer of Miami International Holdings (MIAX), exercised 16,000 stock options at $12.00 per share (cost $192,000) on 2026-06-02 and sold 16,000 resulting shares the same day in the open market for a weighted average price of $42.12 per share, generating roughly $673,920 in gross proceeds. The filing also records a derivative disposition entry associated with the exercise/conversion.

Key Details

• Transaction date: June 2, 2026. Form 4 filed June 4, 2026 (appears timely).
• Exercise: 16,000 options exercised at $12.00 each — total exercise cost $192,000. Options are fully vested (F3).
• Sale: 16,000 shares sold at a weighted average price of $42.12; reported proceeds ≈ $673,920. Trades executed in multiple transactions at prices between $42.00 and $45.73 (F2).
• Plan/authorization: Sales effected pursuant to a previously established Rule 10b5-1 trading plan adopted Dec 22, 2025 (F1).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Derivative notation: A separate line shows a derivative disposition at $0.00 reflecting the option-to-share conversion.

Context This was an exercise followed by an immediate sale (effectively a cashless exercise) executed under a pre-established 10b5-1 plan — a common method for insiders to realize option gains without ad hoc timing decisions. The filing is factual and does not indicate insider intent or reflect on company performance.