MIAMI INTERNATIONAL (MIAX) EVP Barbara Comly Exercises Options, Sells 28k Shares

What Happened

• Barbara J. Comly, EVP, General Counsel & Corporate Secretary of Miami International Holdings (MIAX), exercised 28,000 stock options at a $12.00 strike (total cost $336,000) on 2026-05-04 and the resulting 28,000 shares were sold in an open‑market transaction at $47.26 each for gross proceeds of $1,323,280. The Form 4 shows the option instrument was settled/removed upon exercise.

Key Details

• Transaction date: 2026-05-04; Filing date: 2026-05-05 (no late filing indicated).
• Exercise: 28,000 options exercised at $12.00 each (total cash paid $336,000).
• Sale: 28,000 shares sold at $47.26 each (gross proceeds $1,323,280).
• Footnotes: Transaction executed pursuant to a previously established Rule 10b5‑1 trading plan adopted Dec 18, 2025 (F1). The options were fully vested (F2).
• Shares owned after transaction: Not specified in this filing.
• Derivative note: The Form 4 reports a derivative security disposition at $0 reflecting settlement of the options upon exercise.

Context

• This sequence (exercise of vested options followed by immediate sale of the shares) is commonly a cashless exercise and sale — it converts option value to cash rather than signaling a new purchase position. The 10b5‑1 plan indicates the sale was pre‑planned according to an established trading program. No inference about future company performance should be drawn from this single, routine insider sale.