Insider at Miami International Holdings (MIAX) exercises options, sells 48K
Rhea-AI Filing Summary
Miami International Holdings EVP and CIO Douglas M. Schafer Jr exercised 48,000 nonqualified stock options at $12.0000 per share into 48,000 shares of common stock, then sold 48,000 shares at a weighted average price of $45.7100 per share pursuant to a previously established Rule 10b5-1 Plan adopted on December 16, 2025. The options were fully vested, and he continues to hold 43,334 stock options following this exercise.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and Sale: 48,000 shares ($1.62M approx. pre-tax spread)
Exercise and Sale
3 txns
Insider
Schafer Douglas M. JR
Role
EVP and CIO
Sold
48,000 shs ($2.19M)
Approx. gross sale proceeds
$2.19M
Approx. exercise cost
$576K
Approx. pre-tax spread
$1.62M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Nonqualified Stock Option (Right to Buy) F1, F3 | 48,000 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 48,000 | $12.00 | $576K |
| Sale | Common Stock F1, F2 | 48,000 | $45.71 | $2.19M |
Holdings After Transaction:
Nonqualified Stock Option (Right to Buy) — 43,334 shares (Direct);
Common Stock — 387,414 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 16, 2025.
- F2. This transaction was executed in multiple trades throughout the day at prices ranging from $45.09 to $46.78. 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: 48000.0000 shares
Option exercise price: $12.0000 per share
Shares sold: 48000.0000 shares
+4 more
7 metrics
Options exercised
48000.0000 shares
Nonqualified stock options exercised by EVP and CIO on 2026-08-04
Option exercise price
$12.0000 per share
Exercise price for Nonqualified Stock Option (Right to Buy)
Shares sold
48000.0000 shares
Common stock sold by the reporting person on 2026-08-04
Weighted average sale price
$45.7100 per share
Weighted average price for shares sold in multiple trades between $45.09 and $46.78
Sale price range
$45.09–$46.78 per share
Range of individual trade prices for the 48,000 shares sold
Options remaining
43334.0000 shares
Nonqualified stock options held following the reported exercise
10b5-1 plan adoption date
December 16, 2025
Date the reporting person adopted the Rule 10b5-1 Plan governing these trades
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"
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
"security title "Nonqualified 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.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transaction did MIAX executive Douglas M. Schafer Jr report?
Douglas M. Schafer Jr reported exercising 48,000 nonqualified stock options at $12.0000 and receiving 48,000 common shares, followed by selling 48,000 shares at a weighted average price of $45.7100 per share on August 4, 2026.
Was the MIAX Form 4 transaction by Douglas Schafer under a Rule 10b5-1 plan?
Yes. The filing states the trades were effected pursuant to a previously established Rule 10b5-1 Plan adopted by the reporting person on December 16, 2025, indicating the transactions followed a pre-arranged trading schedule.
How many MIAX stock options does Douglas Schafer hold after this Form 4?
After exercising 48,000 options, Schafer is reported to hold 43,334 nonqualified stock options. The filing notes these options are fully vested, giving him the right to buy additional shares before their May 17, 2028 expiration.
What is the nature of the MIAX securities involved in Douglas Schafer’s Form 4?
The transactions involve Nonqualified Stock Options (Right to Buy) with an exercise price of $12.0000 per share, converting into common stock, and a subsequent sale of 48,000 shares of common stock at a weighted average of $45.7100 per share.