Jayabalan Harish 4

What Happened

• Jayabalan Harish, EVP, CISO and CRO of Miami International Holdings (MIAX), exercised a total of 20,000 stock options (fully vested) at an exercise price of $12.00 per share and immediately sold those 20,000 shares in the open market.
  • 2026-06-08: exercised 10,217 options for $122,604 and sold 10,217 shares at a weighted-average $40.12 for $409,906.
  • 2026-06-09: exercised 9,783 options for $117,396 and sold 9,783 shares at a weighted-average $40.04 for $391,711.
• Combined exercise cost was $240,000; gross sale proceeds were approximately $801,617, implying an approximate pre-tax gain of $561,617.

Key Details

• Transaction dates: June 8, 2026 and June 9, 2026.
• Exercise price: $12.00 per share; sale weighted-average prices: $40.12 (6/8) and $40.04 (6/9). Per-trade ranges: $40.00–$40.40 (6/8) and $40.00–$40.14 (6/9); filing provides weighted averages (filing offers to provide per-trade detail on request).
• Options status: fully vested (footnote F4).
• Plan/authorization: Sales were effected pursuant to a pre-established Rule 10b5-1 trading plan adopted March 9, 2026 (footnote F1).
• Derivative lines reported at $0 reflect conversion/exercise of the options into shares (cashless exercise followed by sale).
• Shares owned after the transactions are not specified in the provided filing.
• Filing timeliness: Report filed June 10, 2026 for trades on June 8–9 — within standard Form 4 timing (not marked late).

Context

• This was an exercise-plus-immediate-sale (cashless) sequence — the insider converted vested options into shares and sold them the same days. Such transactions often reflect routine option monetization under pre-set plans; they are factual records of insider selling rather than explicit statements about company prospects.