Emmons Lance 4

What Happened

• Lance Emmons, EVP and Chief Financial Officer of Miami International Holdings, Inc. (MIAX), reported an open‑market/private sale of 35,000 shares on 2026-05-15. The filing reports an average sale price of $56.36 per share for a total of $1,972,600.
• The sale was effected under a previously established Rule 10b5-1 trading plan (adopted December 17, 2025), which indicates the trades were pre‑arranged rather than ad hoc.

Key Details

• Transaction date: 2026-05-15; Filing date: 2026-05-18 (filed on time).
• Reported total: 35,000 shares sold at an average price of $56.36 ($1,972,600).
• Execution details: Trades occurred in multiple transactions during the day at prices between $55.19 and $57.02; the filing lists the average price. The reporting person offers to provide detailed per‑trade prices and quantities on request (per footnote).
• Footnotes: F1 = sale pursuant to a 10b5‑1 plan (Dec 17, 2025). F2 = multiple trades/price range; average price reported.
• Shares owned after transaction: not disclosed in the provided filing.

Context

• This was a sale (S) under a pre‑arranged 10b5‑1 plan. Such plans allow insiders to sell shares according to preset instructions and are common for liquidity or diversification needs; they do not necessarily signal a change in the insider’s view of the company.
• For retail investors, purchases tend to carry more direct signals of insider confidence than routine, pre‑planned sales. This report documents the disposition of shares rather than any option exercise, grant, or gift.