Beckelman John 4

What Happened

John Beckelman, a director of Miami International Holdings, Inc. (MIAX), exercised vested stock options on 2026-04-09 to acquire 8,667 shares at an exercise price of $12.00 per share, for a total cash cost of $104,004. The same filing also shows a simultaneous disposition of 8,667 derivative shares at $0.00. The primary action was an option exercise (a purchase of shares via conversion of derivatives).

Key Details

• Transaction date: 2026-04-09; Form 4 filed: 2026-04-10 (timely).
• Exercise: 8,667 shares acquired at $12.00 each = $104,004 total.
• Disposition: 8,667 derivative units reported disposed at $0.00 (filing lists this as a derivative disposition).
• Shares owned after transaction: not specified in the filing.
• Footnote: The options exercised were fully vested.
• Filing timeliness: No late filing flag; filed the day after the transaction.

Context

• This was an option exercise (transaction code M). Option exercises convert derivatives into common shares and are not the same as an open-market purchase.
• The simultaneous $0.00 disposition could reflect a net/cashless exercise, share surrender to cover taxes, or an administrative transfer, but the Form 4 does not specify the reason—no additional detail or 10b5-1/tax withholding note was provided.
• Such exercises are common for insiders with vested options and do not by themselves indicate a change in sentiment; they are a way to realize equity built up through compensation.