Horizon Kinetics (MIAX) exercises warrants and reports share sale
Rhea-AI Filing Summary
MIAMI INTERNATIONAL HOLDINGS, INC. reported that ten percent owner Horizon Kinetics Asset Management LLC (HKAM) exercised warrants for a total of 112,656 shares of common stock on March 2, 2026. The warrants were exercised on a cashless basis, with the issuer withholding 53,578 shares to cover the exercise price and issuing 59,078 shares to HKAM. The filing also shows HKAM reporting an open-market sale of 53,578 common shares at $40.92 per share, leaving HKAM with 4,619,442 common shares held indirectly. Director Murray Stahl is shown with several fully vested option positions held directly, with updated post‑transaction option balances and no new option exercises disclosed.
Positive
- None.
Negative
- None.
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
11 txns
Insider
STAHL MURRAY, HORIZON KINETICS ASSET MANAGEMENT LLC
Role
Director | 10% Owner
Sold
53,578 shs ($2.19M)
Approx. gross sale proceeds
$2.19M
Approx. exercise cost
$2.19M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| In-the-Money Exercise | Warrant (right to buy) | 21,290 | $0.00 | $0.00 |
| In-the-Money Exercise | Warrant (right to buy) | 24,878 | $0.00 | $0.00 |
| In-the-Money Exercise | Warrant (right to buy) | 27,561 | $0.00 | $0.00 |
| In-the-Money Exercise | Warrant (right to buy) | 38,927 | $0.00 | $0.00 |
| In-the-Money Exercise | Common Stock | 21,290 | $15.00 | $319K |
| In-the-Money Exercise | Common Stock | 91,366 | $20.50 | $1.87M |
| Sale | Common Stock | 53,578 | $40.92 | $2.19M |
| holding | Options | -- | -- | -- |
| holding | Options | -- | -- | -- |
| holding | Options | -- | -- | -- |
| holding | Options | -- | -- | -- |
Holdings After Transaction:
Warrant (right to buy) — 0 shares (Indirect, Horizon Kinetics Asset Management LLC);
Common Stock — 4,619,442 shares (Indirect, Horizon Kinetics Asset Management LLC);
Options — 34,331 shares (Direct)
Footnotes (2)
- F1. This amendment corrects a previous filing that inadvertently included shares that are not subject to reporting and also corrects the share totals. Horizon Kinetics Asset Management LLC (HKAM) exercised warrants to purchase 112,656 shares of common stock at the exercise prices noted. HKAM paid the exercise price on a cashless basis, resulting in the Issuer withholding 53,578 of the warrant shares to pay the exercise price and issuing to HKAM the remaining 59,078 shares.
- F2. The Options given to Mr. Stahl are fully vested.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transactions were reported for MIAX in this Form 4/A?
The filing shows Horizon Kinetics Asset Management LLC exercising warrants for 112,656 MIAX shares on a cashless basis and reporting an open-market sale of 53,578 common shares at $40.92 per share, along with updated option holdings for director Murray Stahl.
What does cashless warrant exercise mean in the MIAX Horizon Kinetics filing?
HKAM exercised warrants to buy 112,656 MIAX shares and paid the exercise price in shares rather than cash. The issuer withheld 53,578 warrant shares to cover the cost and issued the remaining 59,078 shares to HKAM as stated in the footnote.
What sale of MIAX stock did Horizon Kinetics report in this Form 4/A?
Horizon Kinetics Asset Management LLC reported selling 53,578 MIAX common shares in an open-market or private transaction at $40.92 per share. This sale is disclosed alongside the warrant exercises and contributes to the updated indirect ownership total.
What is Murray Stahl’s position and what options does he hold in MIAX?
Murray Stahl is a director of MIAMI INTERNATIONAL HOLDINGS, INC. The filing lists several directly held option positions with post-transaction balances of 7,500, 10,000, 14,331, and 2,500 options, and notes that these options are fully vested per the provided footnote.
Why was this MIAX Form 4/A filed as an amendment?
The amendment corrects an earlier report that mistakenly included shares not subject to reporting and incorrect share totals. It clarifies that HKAM exercised warrants for 112,656 shares and explains the cashless exercise structure and resulting share issuance and withholding.