MIAX (NYSE): Broker lists 144,000-share Form 144 after option exercise

Rhea-AI Filing Summary

Morgan Stanley Smith Barney LLC reported a Rule 144 notice covering 144,000 shares of Common Stock associated with an exercise of stock options on 07/02/2026. The filing lists $5,623,200.00 alongside the 144,000 shares and shows prior 10b5-1 sales of 48,000 shares on 06/02/2026 and 48,000 shares on 05/04/2026.

Insights

Securities Transactions Analyst

Rule 144 notice lists option exercise and scheduled resale activity.

The filing records an exercise of stock options resulting in 144,000 shares noted for sale on 07/02/2026. The entry pairs the share count with $5,623,200.00, which appears as a transaction value in the same row.

Prior automated dispositions under a 10b5-1 plan are shown: 48,000 shares sold on 06/02/2026 and 48,000 shares sold on 05/04/2026. Subsequent filings would show actual resale timing and purchasers.

Key Figures

Form 144 reported shares: 144,000 shares Associated amount listed: $5,623,200.00 Prior 10b5-1 sale: 48,000 shares +2 more

5 metrics

Form 144 reported shares 144,000 shares Exercise of Stock Options on 07/02/2026

Associated amount listed $5,623,200.00 Row value shown with 144,000 shares (07/02/2026)

Prior 10b5-1 sale 48,000 shares Sold 06/02/2026 for $2,056,401.60

Prior 10b5-1 sale 48,000 shares Sold 05/04/2026 for $2,268,052.80

Header numeric field 94,907,086 Number appearing in header row (07/02/2026)

Key Terms

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

3 terms

Rule 144 regulatory

"144 notice covering 144,000 shares of Common Stock"

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 regulatory

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

A 10b5-1 plan is a pre-set schedule that lets company insiders buy or sell shares according to written instructions made when they do not possess material, nonpublic information. Think of it as a timed automatic payment for stock trades: it helps insiders avoid accusations of trading on secret information and gives outside investors a clearer signal about whether sales are routine or potentially informative about the company’s prospects.

Exercise of Stock Options financial

"Common | 07/02/2026 | Exercise of Stock Options | Issuer"

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

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 07/02/2026 - 04:32 PM Accepted by SEC EDGAR 07/02/2026 - 04:31 PM Learn about SEC filing dates

FAQ

What does the MIAX Form 144 report show?

It reports a Rule 144 notice for 144,000 shares tied to an exercise of stock options dated 07/02/2026. The row pairs the share count with $5,623,200.00 in the same line of the filing.

Were there prior share sales disclosed in the MIAX filing?

Yes. The filing lists two prior 10b5-1 sales: 48,000 shares on 06/02/2026 ($2,056,401.60) and 48,000 shares on 05/04/2026 ($2,268,052.80), as shown in the excerpt.

Who is the filer named on the Form 144 for MIAX?

The filer is listed as Morgan Stanley Smith Barney LLC with an address at 1 New York Plaza, 8th Floor, New York, NY 10004, per the filing excerpt provided.

Does the filing indicate how the shares will be sold?

The excerpt labels the transaction as resulting from an exercise of stock options and lists Cash in the method column; detailed distribution methods are not further described in the provided excerpt.

Is there an outstanding share count shown in the excerpt?

The excerpt includes the number 94,907,086 adjacent to other fields in the header row; the filing text provided does not explicitly label that number within the excerpt, so its role is recorded but not defined here.

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

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

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

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	144000	5623200.00	94907086	07/02/2026	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	07/02/2026	Exercise of Stock Options	Issuer			144000	07/02/2026	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	06/02/2026	48000	2056401.60
10b5-1 Sales for DOUGLAS M. SCHAFER JR. 7 Roszel Road, Suite 1A Princeton NJ 08540	Common	05/04/2026	48000	2268052.80

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

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

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)