MIAMI International director sells 19,500 shares

Q: What did MIAX director Cynthia Schwarzkopf do in this Form 4 filing?

Director Cynthia Schwarzkopf exercised options for 19,500 MIAX shares at $12.00 and sold 19,500 shares at a weighted average price of $41.73. These transactions represent an exercise-and-sell sequence rather than a simple open-market purchase.

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

She sold 19,500 shares of MIAX common stock in an open-market transaction at a weighted average price of $41.73 per share. The trades occurred in multiple lots between $40.86 and $42.75 during the day, according to the disclosure.

Q: What options did Cynthia Schwarzkopf exercise in MIAX stock?

She exercised a fully vested stock option covering 19,500 shares of MIAX common stock at an exercise price of $12.00 per share. Following the exercise, the Form 4 shows zero remaining shares under this specific option award.

MIAMI INTERNATIONAL HOLDINGS director Cynthia Schwarzkopf reported a same-day option exercise and share sale.

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Form Type

Rhea-AI Filing Summary

MIAMI INTERNATIONAL HOLDINGS director Cynthia Schwarzkopf reported a same-day option exercise and share sale. On June 11, 2026 she exercised options to acquire 19,500 shares of common stock at $12.00 per share, then sold 19,500 shares in an open-market transaction at a weighted average price of $41.73 per share. The sale was executed under a previously established Rule 10b5-1 trading plan, indicating the trades were pre-scheduled. After these transactions, she directly holds 81,308 shares of common stock and no remaining options from this grant, which was fully vested.

Insider Trade Summary 10b5-1

Exercise and Sale: 19,500 shares ($580K approx. pre-tax spread)

Exercise and Sale 3 txns

Insider Schwarzkopf Cynthia

Role Director

Sold 19,500 shs ($814K)

Approx. gross sale proceeds $814K

Approx. exercise cost $234K

Approx. pre-tax spread $580K

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy)	19,500	$0.00	$0.00
Exercise	Common Stock	19,500	$12.00	$234K
Sale	Common Stock	19,500	$41.73	$814K

Holdings After Transaction: Stock Option (Right to Buy) — 0 contracts (Direct); Common Stock — 81,308 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 $40.86 to $42.75. 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: 19,500 shares Sale price: $41.73 per share Option exercise price: $12.00 per share +3 more

6 metrics

Shares sold 19,500 shares Open-market sale of common stock

Sale price $41.73 per share Weighted average sale price on June 11, 2026

Option exercise price $12.00 per share Exercise price for 19,500-share stock option

Shares acquired via exercise 19,500 shares Common stock received from option exercise

Post-transaction holdings 81,308 shares Common stock directly owned after transactions

Net shares sold 19,500 shares Net buy/sell direction reported as net-sell

Key Terms

Rule 10b5-1 Plan, weighted average sales price, Stock Option (Right to Buy), 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.

weighted average sales price financial

"The price reported above reflects the weighted average sales price."

Stock Option (Right to Buy) financial

"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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did MIAX director Cynthia Schwarzkopf do in this Form 4 filing?

Director Cynthia Schwarzkopf exercised options for 19,500 MIAX shares at $12.00 and sold 19,500 shares at a weighted average price of $41.73. These transactions represent an exercise-and-sell sequence rather than a simple open-market purchase.

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

She sold 19,500 shares of MIAX common stock in an open-market transaction at a weighted average price of $41.73 per share. The trades occurred in multiple lots between $40.86 and $42.75 during the day, according to the disclosure.

What options did Cynthia Schwarzkopf exercise in MIAX stock?

She exercised a fully vested stock option covering 19,500 shares of MIAX common stock at an exercise price of $12.00 per share. Following the exercise, the Form 4 shows zero remaining shares under this specific option award.

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

After the reported exercise and sale, Cynthia Schwarzkopf directly owns 81,308 shares of MIAX common stock. This figure reflects her position following the open-market sale of 19,500 shares connected to the exercised stock option.

Were Cynthia Schwarzkopf’s MIAX trades under a Rule 10b5-1 plan?

Yes. The filing states the sale was effected under a previously established Rule 10b5-1 Plan adopted on March 12, 2026. Such plans pre-schedule trades, indicating the timing was not chosen in reaction to new company-specific information.

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

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 06/12/2026 - 04:15 PM EDT

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).

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)
06/11/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	06/11/2026		M⁽¹⁾		19,500	A	$12	100,808	D
Common Stock	06/11/2026		S⁽¹⁾		19,500	D	$41.73⁽²⁾	81,308	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option (Right to Buy)	$12	06/11/2026		M⁽¹⁾			19,500	⁽³⁾	06/19/2026	Common Stock	19,500	$0	0	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. This transaction was executed in multiple trades throughout the day at prices ranging from $40.86 to $42.75. 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.

3. The options are fully vested.

Remarks:

	/s/Alessandra Maria Corona Henriques, Attorney-in-Fact	06/12/2026
	** 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)

Source: View Original Filing on SEC EDGAR