Miami International officer plans $4.05M share sale

The shares are to come from stock-option exercises over the next three months, and the reported exercise and payment dates coincide with the sale dates.

Rhea-AI Filing Summary

Miami International Holdings, Inc. officer Douglas M. Schafer Jr. reported a planned sale of 120,000 common shares, with an aggregate market value of $4,050,000.00. The shares were and will be received through stock-option exercises over the next three months; acquisition and payment dates were and will be the exercise/sale dates.

During the prior three months, Officer Schafer reported 10b5-1 sales of 48,000 common shares on September 2, 2026, for $1,943,198.94, and 48,000 shares on August 4, 2026, for $2,193,886.40.

Key Figures

Shares proposed for sale: 120,000 common shares Aggregate market value: $4,050,000.00 Shares sold: 48,000 shares +3 more

6 metrics

Shares proposed for sale 120,000 common shares Planned sale

Aggregate market value $4,050,000.00 Planned sale

Shares sold 48,000 shares September 2, 2026

Reported transaction value $1,943,198.94 September 2, 2026

Shares sold 48,000 shares August 4, 2026

Reported transaction value $2,193,886.40 August 4, 2026

Key Terms

Rule 144, 10b5-1 Sales, Exercise of Stock Options

3 terms

Rule 144 regulatory

"See the definition of "person" in paragraph (a) of Rule 144"

Rule 144 is a U.S. securities regulation that sets conditions under which restricted or insider-held shares can be legally resold to the public, such as required holding periods, availability of public information, limits on how much can be sold at once, and certain filing requirements. For investors it matters because it determines when previously locked-up shares can enter the market — like a release valve that can increase supply, affect share price, and signal insider intent.

10b5-1 Sales financial

"10b5-1 Sales for DOUGLAS M. SCHAFER JR."

10b5-1 sales are pre-arranged stock-trading plans that let company insiders automatically buy or sell shares according to a fixed schedule or formula, even if they later learn confidential information. Think of it as setting up an automatic thermostat for trades: it creates a clear, documented path that can protect insiders from insider-trading accusations and gives investors a signal about predictable insider activity—though it can also simply be a way for insiders to diversify or raise cash.

Exercise of Stock Options financial

"Exercise of Stock Options"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many MIAX shares does Douglas M. Schafer Jr. plan to sell?

Officer Douglas M. Schafer Jr.'s notice covers a planned sale of 120,000 common shares with an aggregate market value of $4,050,000.00. The shares are tied to stock-option exercises over the next three months.

How will Douglas M. Schafer Jr. acquire the MIAX shares?

The shares were and will be received through the exercise of stock options over the next three months. The stated acquisition and payment dates were and will be the dates of exercise and sale.

What MIAX shares has Douglas M. Schafer Jr. sold recently?

Officer Douglas M. Schafer Jr. reported 10b5-1 sales of 48,000 shares on September 2, 2026, for $1,943,198.94, and 48,000 shares on August 4, 2026, for $2,193,886.40.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/02/2026 - 04:20 PM Accepted by SEC EDGAR 10/02/2026 - 04:19 PM Learn about SEC filing dates

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK	0002079445
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	Miami International Holdings, Inc.
SEC File Number	001-42805
Address of Issuer	7 Roszel Road, Suite 1A Princeton NEW JERSEY 08540
Phone	6098977300
Name of Person for Whose Account the Securities are To Be Sold	DOUGLAS M. SCHAFER JR.
See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.
Relationship to Issuer	Officer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	120000	4050000.00	99230898	10/02/2026	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	10/02/2026	Exercise of Stock Options	Issuer			120000	10/02/2026	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
10b5-1 Sales for DOUGLAS M. SCHAFER JR. 7 Roszel Road, Suite 1A Princeton NJ 08540	Common	09/02/2026	48000	1943198.94
10b5-1 Sales for DOUGLAS M. SCHAFER JR. 7 Roszel Road, Suite 1A Princeton NJ 08540	Common	08/04/2026	48000	2193886.40

144: Remarks and Signature

Remarks	The securities to be sold were and will be received upon the exercise of stock options over the next three months. The dates of acquisition and payment were and will be the dates of exercise/sale.
Date of Notice	10/02/2026
Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1	12/16/2025
ATTENTION:
The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.
Signature	/s/ Douglas M. Schafer, Jr.
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)