Miami International (MIAX) director exercises options, sells 5,000 shares
Rhea-AI Filing Summary
MIAMI INTERNATIONAL HOLDINGS, INC. (MIAX) director Cynthia Schwarzkopf reported an option exercise-and-sale sequence involving 5,000 shares. She exercised 5,000 stock options at an exercise price of $12.00 per share, then sold 5,000 common shares at a weighted average price of $42.85 per share in trades ranging from $42.54–$43.33. Following the exercise, she held 11,916 stock options directly, and these transactions were effected under a previously established Rule 10b5-1 Plan adopted on March 12, 2026.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and Sale: 5,000 shares ($154K approx. pre-tax spread)
Exercise and Sale
3 txns
Insider
Schwarzkopf Cynthia
Role
Director
Sold
5,000 shs ($214K)
Approx. gross sale proceeds
$214K
Approx. exercise cost
$60K
Approx. pre-tax spread
$154K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (Right to Buy) F1, F3 | 5,000 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 5,000 | $12.00 | $60K |
| Sale | Common Stock F1, F2 | 5,000 | $42.85 | $214K |
Holdings After Transaction:
Stock Option (Right to Buy) — 11,916 shares (Direct);
Common Stock — 88,545 shares (Direct)
Footnotes (3)
- F1. This transaction was effected pursuant to a previously established Rule 10b5-1 Plan adopted by the Reporting Person on March 12, 2026.
- F2. This transaction was executed in multiple trades throughout the day at prices ranging from $42.54 to $43.33. 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
Options Exercised: 5,000 shares
Option Exercise Price: $12.00 per share
Shares Sold: 5,000 shares
+2 more
5 metrics
Options Exercised
5,000 shares
Stock options (right to buy) exercised into common stock on 2026-08-17
Option Exercise Price
$12.00 per share
Exercise or conversion price of stock options exercised on 2026-08-17
Shares Sold
5,000 shares
MIAX common stock sold on 2026-08-17 following option exercise
Weighted Average Sale Price
$42.85 per share
Weighted average for sales executed between $42.54 and $43.33 on 2026-08-17
Remaining Options Held
11,916 shares
Stock options (right to buy) held directly after the reported transactions
Key Terms
Rule 10b5-1 Plan, Stock Option (Right to Buy, 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"
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)"
weighted average sales price financial
"The price reported above reflects the weighted average sales price"
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.
FAQ
What insider transaction did MIAX director Cynthia Schwarzkopf report on this Form 4 for MIAX?
Cynthia Schwarzkopf reported exercising 5,000 stock options and selling 5,000 MIAX common shares. The options were exercised at $12.00 per share, and the resulting shares were sold the same day in open-market transactions under a Rule 10b5-1 Plan.
What was the exercise price and size of the MIAX stock options exercised by Cynthia Schwarzkopf?
She exercised 5,000 stock options for MIAX common stock at an exercise price of $12.00 per share. The options were reported as fully vested, and the exercise converted these derivative securities into an equal number of common shares.
How many MIAX stock options does Cynthia Schwarzkopf hold after the reported transactions?
After the reported option exercise, she directly holds 11,916 stock options linked to MIAX common stock. This figure reflects the number of derivative securities shown as “shares following transaction” for the option position on the Form 4 filing.
Were Cynthia Schwarzkopf’s MIAX transactions made under a Rule 10b5-1 trading plan?
Yes. The Form 4 states the transactions were effected under a previously established Rule 10b5-1 Plan. A footnote specifies that this trading plan was adopted on March 12, 2026, indicating the trades followed a pre-arranged plan.
What types of securities are involved in Cynthia Schwarzkopf’s MIAX Form 4 filing?
The filing reports transactions in stock options (right to buy) and the underlying MIAX common stock. One entry covers the derivative option exercise, while separate entries record acquisition of common shares from the exercise and their subsequent sale.
AI-generated analysis. How Rhea-AI works. Not financial advice.
