MIAX EVP Shelly Brown sells 16,000 shares
MIAMI INTERNATIONAL HOLDINGS, INC. executive Shelly Brown, EVP and Chief Strategy Officer, reported an exercise-and-sale transaction in company common stock.
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Form Type
4
Rhea-AI Filing Summary
MIAMI INTERNATIONAL HOLDINGS, INC. executive Shelly Brown, EVP and Chief Strategy Officer, reported an exercise-and-sale transaction in company common stock. Brown exercised options to acquire 16,000 shares at $12.00 per share and sold 16,000 shares at a weighted average price of $42.12 per share.
The sale was executed in multiple trades on June 2, 2026 under a previously established Rule 10b5-1 trading plan adopted on December 22, 2025. Following these transactions, Brown directly holds 325,047 shares of MIAX common stock.
Insider Trade Summary 10b5-1
Exercise and Sale: 16,000 shares ($482K approx. pre-tax spread)
Exercise and Sale
3 txns
Insider
Brown Shelly
Role
EVP, Chief Strategy Officer
Sold
16,000 shs ($674K)
Approx. gross sale proceeds
$674K
Approx. exercise cost
$192K
Approx. pre-tax spread
$482K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Nonqualified Stock Option (Right to Buy) | 16,000 | $0.00 | $0.00 |
| Exercise | Common Stock | 16,000 | $12.00 | $192K |
| Sale | Common Stock | 16,000 | $42.12 | $674K |
Holdings After Transaction:
Nonqualified Stock Option (Right to Buy) — 16,000 contracts (Direct);
Common Stock — 325,047 shares (Direct)
Footnotes (3)
- F1. This transaction was effected pursuant to a previously established Rule 10b5-1 Plan adopted by the Reporting Person on December 22, 2025.
- F2. This transaction was executed in multiple trades throughout the day at prices ranging from $42.00 to $45.73. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.
- F3. The options are fully vested.
Key Figures
Shares sold: 16,000 shares
Weighted average sale price: $42.12 per share
Option exercise price: $12.00 per share
+3 more
6 metrics
Shares sold
16,000 shares
Open-market sale of common stock on June 2, 2026
Weighted average sale price
$42.12 per share
Common stock sale on June 2, 2026
Option exercise price
$12.00 per share
Nonqualified stock option exercise for 16,000 shares
Options exercised
16,000 shares
Nonqualified stock option (right to buy) exercised
Post-transaction holdings
325,047 shares
Common stock directly held after transactions
Sale price range
$42.00–$45.73 per share
Price range for multiple trades on June 2, 2026
Key Terms
Rule 10b5-1 Plan, Nonqualified Stock Option, weighted average sales price, derivative security
4 terms
Rule 10b5-1 Plan regulatory
"This transaction was effected pursuant to a previously established Rule 10b5-1 Plan adopted by the Reporting Person"
A Rule 10b5-1 plan is a prearranged, written schedule that lets corporate insiders buy or sell company stock at set times or amounts, even if they later learn material nonpublic information. Think of it like setting an automatic thermostat for trades: it creates a clear record that trades were planned in advance, reducing the risk of insider-trading accusations and helping investors trust that insider transactions are routine rather than based on secret information.
Nonqualified Stock Option financial
"Nonqualified Stock Option (Right to Buy)"
A nonqualified stock option (NQSO) is a company grant that gives an individual the right to buy shares at a set price but does not meet special tax rules for incentive stock options; when exercised the difference between the market price and the exercise price is treated as ordinary income for the recipient and as a tax-deductible expense for the company. It matters to investors because NQSOs affect an employee’s after-tax proceeds, the company’s reported expenses, and potential share dilution—think of it like a cash bonus that converts into stock but is taxed as regular pay when you take it.
weighted average sales price financial
"The price reported above reflects the weighted average sales price."
derivative security financial
"Exercise or conversion of derivative security"
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did MIAX executive Shelly Brown report on Form 4?
Shelly Brown reported exercising options for 16,000 MIAX shares at $12.00 and selling 16,000 shares at a weighted average of $42.12. These trades occurred on June 2, 2026 and involved MIAMI INTERNATIONAL HOLDINGS, INC. common stock.
What stock options did Shelly Brown exercise in this MIAX Form 4 filing?
Brown exercised a nonqualified stock option for 16,000 shares of MIAX common stock at an exercise price of $12.00 per share. The options were fully vested and were exercised on June 2, 2026, ahead of their stated expiration on August 2, 2026.
Were Shelly Brown’s MIAX stock sales made under a Rule 10b5-1 plan?
Yes. The Form 4 footnotes state that the sale was executed under a previously established Rule 10b5-1 trading plan adopted on December 22, 2025. Such plans pre-schedule trades, indicating the timing was pre-arranged rather than discretionary.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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