MIAX Director Kurt M. Eckert Exercises Options, Sells 1,063 Shares

What Happened

• Kurt M. Eckert, a director of Miami International Holdings, Inc. (MIAX), exercised 1,063 fully vested options at $12.00 per share (cost $12,756) and sold the 1,063 shares the same day in an open-market transaction for a weighted average price of $45.80, generating proceeds of approximately $48,685. The derivative position associated with the options was also recorded as disposed in the filing.

Key Details

• Transaction date: August 4, 2026.
• Exercise: 1,063 shares acquired @ $12.00 each; total exercise cost $12,756.
• Sale: 1,063 shares sold @ weighted avg $45.80; total proceeds ≈ $48,685. Sales executed in multiple trades at $45.14–$46.57 (weighted avg reported).
• Footnotes: Trade executed pursuant to a pre-established Rule 10b5-1 plan adopted Dec 18, 2025 (F1). Options were fully vested (F3). The filer can provide the exact trade-by-trade prices on request (F2).
• Shares owned after the transaction: not specified in the provided excerpt — see the Form 4 for post-transaction holdings.
• Filing timeliness: Report filed Aug 6, 2026 for an Aug 4, 2026 transaction; appears timely under standard reporting rules.

Context

• This was an exercise of options followed by an immediate sale (effectively a cashless exercise). Such same-day exercises and sales are commonly executed for liquidity or tax purposes and do not, by themselves, indicate a change in the insider’s view of the company’s prospects.
• The sale was executed under a 10b5-1 plan, which pre-establishes sale terms and timing to avoid questions about trading on nonpublic information.