MIAX EVP Shelly Brown Surrenders 16,283 Shares for Taxes

What Happened Shelly Brown, Executive Vice President and Chief Strategy Officer of Miami International Holdings (MIAX), had 16,283 shares withheld at $42.54 per share (total value $692,679) on 2026-09-11 to satisfy tax withholding related to the net settlement of restricted stock awards. Although the Form 4 shows the shares as "disposed," the filing's footnote clarifies this was a surrender to the company for taxes—not an open-market sale by the insider.

Key Details

• Transaction date and price: 2026-09-11 at $42.54 per share.
• Shares involved: 16,283; total value indicated ≈ $692,679.
• Transaction code: F (tax withholding/net settlement).
• Footnote: Shares surrendered to the company to satisfy tax withholding in connection with net settlement of restricted stock awards; does not represent a sale by the reporting person.
• Shares owned after transaction: not specified in the filing.
• Timeliness: Reported on 2026-09-11 (no late filing indicated).

Context This was a routine tax-withholding/net-settlement of restricted stock rather than a discretionary sale. Such transactions are common when companies withhold shares to cover taxes and generally do not signal insider trading intent or market sentiment. Purchases or open-market sales by insiders typically carry more informational weight for investors.