MIAMI International Holdings (MIAX) director sells 5,000 shares after option exercise

Rhea-AI Filing Summary

MIAMI International Holdings director Cynthia Schwarzkopf reported related stock and option transactions. She exercised 5,000 stock options at $12.00 per share to acquire common stock, then sold 5,000 common shares at $42.00 in an open-market trade under a pre-established Rule 10b5-1 Plan adopted on March 12, 2026. After these transactions, she holds 88,545 common shares and 16,916 stock options expiring on 2027-05-31.

Insider Trade Summary 10b5-1

Exercise and Sale: 5,000 shares ($150K approx. pre-tax spread)

Exercise and Sale 3 txns

Insider Schwarzkopf Cynthia

Role Director

Sold 5,000 shs ($210K)

Approx. gross sale proceeds $210K

Approx. exercise cost $60K

Approx. pre-tax spread $150K

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy) F1, F2	5,000	$0.00	$0.00
Exercise	Common Stock F1	5,000	$12.00	$60K
Sale	Common Stock F1	5,000	$42.00	$210K

Holdings After Transaction: Stock Option (Right to Buy) — 16,916 shares (Direct); Common Stock — 88,545 shares (Direct)

Footnotes (2)

1. F1. This transaction was effected pursuant to a previously established Rule 10b5-1 Plan adopted by the Reporting Person on March 12, 2026.
2. F2. The options are fully vested.

Key Figures

Shares sold: 5,000 shares Sale price: $42.00 per share Options exercised: 5,000 shares +4 more

7 metrics

Shares sold 5,000 shares Common Stock sold in open-market transaction on 2026-07-15

Sale price $42.00 per share Price per share for the 5,000-share open-market sale

Options exercised 5,000 shares Common Stock acquired via option exercise on 2026-07-15

Exercise price $12.00 per share Strike price of the exercised stock options

Shares owned after 88,545 shares Direct Common Stock holdings following the reported transactions

Options remaining 16,916 options Stock options outstanding after the option exercise

Option expiration 2027-05-31 Expiration date of the reported stock option award

Key Terms

Rule 10b5-1 Plan, Stock Option (Right to Buy), derivative security, open market or private transaction

4 terms

Rule 10b5-1 Plan financial

"transaction was effected pursuant to a previously established Rule 10b5-1 Plan"

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.

Stock Option (Right to Buy) financial

"security_title": "Stock Option (Right to Buy)""

derivative security financial

"transaction_code_description": "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.

open market or private transaction financial

"transaction_code_description": "Sale in open market or private transaction""

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

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/16/2026 - 04:15 PM Accepted by SEC EDGAR 07/16/2026 - 04:15 PM Learn about SEC filing dates

FAQ

What insider transactions did MIAX director Cynthia Schwarzkopf report?

Cynthia Schwarzkopf reported an exercise of 5,000 stock options and a related sale of 5,000 common shares of MIAMI International Holdings. Both transactions occurred on 2026-07-15, combining an option exercise with an open-market share sale.

How many MIAX shares did Cynthia Schwarzkopf sell, and at what price?

She sold 5,000 common shares of MIAX at $42.00 per share in an open-market transaction. This reported sale was part of a broader transaction sequence that also included exercising stock options for the same number of shares.

What MIAX stock options did Cynthia Schwarzkopf exercise in this report?

She exercised 5,000 stock options with a $12.00 per-share exercise price, receiving an equal number of MIAX common shares. The options were reported as fully vested, and the exercise was recorded on 2026-07-15.

How many MIAX shares and options does Cynthia Schwarzkopf hold after these transactions?

Following the reported transactions, Cynthia Schwarzkopf holds 88,545 common shares of MIAX directly and 16,916 stock options. The remaining options include instruments expiring on 2027-05-31, according to the reported holdings data.

Was Cynthia Schwarzkopf’s MIAX share sale made under a Rule 10b5-1 plan?

Yes. The sale of 5,000 MIAX shares was effected under a previously established Rule 10b5-1 Plan adopted by Cynthia Schwarzkopf on March 12, 2026. Such plans pre-schedule trades, reducing the significance of transaction timing as a discretionary signal.

What is the relationship between the MIAX option exercise and share sale reported?

The transactions form an exercise-and-sell pattern: 5,000 options were exercised at $12.00, and 5,000 shares were sold at $42.00 the same day. This sequence converts an existing option position into cash while maintaining a remaining equity stake.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Schwarzkopf Cynthia

(Last) (First) (Middle)

C/O MIAMI INTERNATIONAL HOLDINGS, INC.

7 ROSZEL ROAD, SUITE 1A

(Street)

PRINCETON NEW JERSEY 08540

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
MIAMI INTERNATIONAL HOLDINGS, INC. [ MIAX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/15/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/15/2026		M(1)		5,000	A	$12	93,545	D
Common Stock	07/15/2026		S(1)		5,000	D	$42	88,545	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	$12	07/15/2026		M(1)			5,000	(2)	05/31/2027	Common Stock	5,000	$0	16,916	D

Explanation of Responses:

1. This transaction was effected pursuant to a previously established Rule 10b5-1 Plan adopted by the Reporting Person on March 12, 2026.

2. The options are fully vested.

Remarks:

	/s/Alessandra Maria Corona Henriques, Attorney-in-Fact	07/16/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)