MIAX EVP Barbara Comly Exercises Options and Sells 28,000 Shares

What Happened

• Barbara J. Comly, EVP, General Counsel & Corporate Secretary of Miami International Holdings (MIAX), exercised 28,000 stock options at $12.00 per share and sold the 28,000 resulting shares in the open market on June 2, 2026. The exercise cost was $336,000; the weighted-average sale price was $42.85 for gross proceeds of $1,199,800, implying approximate net proceeds of $863,800 before fees and taxes.
• The filing shows the derivative (the options) was converted/exercised and the shares were then disposed (sold) the same day.

Key Details

• Transaction date: 2026-06-02; Form 4 filed: 2026-06-04 (timely filing within the two-business-day window).
• Exercise: 28,000 shares @ $12.00 = $336,000 (reported as "M" — option exercise/conversion, options fully vested per footnote).
• Sale: 28,000 shares @ weighted avg $42.85 = $1,199,800; execution occurred in multiple trades at prices from $41.31 to $45.73 (footnote).
• Footnotes: transaction executed pursuant to a previously established Rule 10b5-1 trading plan adopted Dec 18, 2025; options were fully vested.
• Shares owned after the transaction: not disclosed in the provided filing excerpt.

Context

• This was effectively a cashless exercise (exercised options and immediately sold the shares), which is common for insiders monetizing vested option holdings and does not necessarily signal a change in view on the company.
• The sale was conducted under a pre-established 10b5-1 plan, indicating the trades were pre-planned and automated rather than ad hoc insider-driven sales.