Miami International Holdings (MIAX) CFO sells 35,000 pre-planned shares

Rhea-AI Filing Summary

Miami International Holdings EVP and CFO Lance Emmons sold 35,000 shares of Common Stock in an open-market transaction at an average price of $56.36 per share. After the sale, he directly holds 84,262 shares. The transaction was executed under a previously established Rule 10b5-1 trading plan adopted on December 17, 2025, indicating it was pre-planned rather than a discretionary trade.

Insights

Equity capital markets analyst

CFO’s 35,000-share sale is sizable but pre-planned under a Rule 10b5-1 plan.

The EVP and CFO of Miami International Holdings, Lance Emmons, executed an open-market sale of 35,000 Common Stock shares at an average price of $56.36 on May 15, 2026. Following this transaction, he continues to directly hold 84,262 shares, so this represents a partial reduction of his equity position.

The filing states the sale occurred under a previously established Rule 10b5-1 Plan adopted on December 17, 2025. Such plans pre-schedule trades, which generally makes the timing less informative about management’s current view of the stock. There are no derivative exercises or tax-withholding events reported alongside this sale in the filing excerpt.

From an investor perspective, this looks like a planned liquidity event rather than an abrupt change in insider sentiment. Subsequent company filings may provide additional context if Emmons undertakes further transactions or alters his remaining 84,262-share position.

Insider Trade Summary 10b5-1

Net Seller: 35,000 shares ($1,972,600)

Net Sell 1 txn

Insider Emmons Lance

Role EVP and CFO

Sold 35,000 shs ($1.97M)

Type	Security	Shares	Price	Value
Sale	Common Stock	35,000	$56.36	$1.97M

Holdings After Transaction: Common Stock — 84,262 shares (Direct, null)

Footnotes (1)

1. This transaction was effected pursuant to a previously established Rule 10b5-1 Plan adopted by the Reporting Person on December 17, 2025. This transaction was executed in multiple trades throughout the day at prices ranging from $55.19 to $57.02. The price reported above reflects the average sale 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.

Key Figures

Shares sold: 35,000 shares Average sale price: $56.36 per share Post-transaction holdings: 84,262 shares +3 more

6 metrics

Shares sold 35,000 shares Open-market sale of Common Stock on May 15, 2026

Average sale price $56.36 per share Weighted average price across multiple trades

Post-transaction holdings 84,262 shares Direct ownership after the reported sale

Trade plan adoption date December 17, 2025 Date Rule 10b5-1 Plan was adopted

Price range of trades $55.19 to $57.02 Execution range for individual trades in the sale

Net share direction -35,000 shares Net-sell direction from transaction summary

Key Terms

Rule 10b5-1 Plan, open-market sale, Common Stock, non-derivative, +1 more

5 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.

open-market sale financial

"transaction_action: "open-market sale" for the 35,000 Common Stock shares"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Common Stock financial

"security_title: "Common Stock" for the reported non-derivative transaction"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

non-derivative financial

"transaction_type: "non-derivative" indicating this was not an option or other derivative"

net-sell financial

"transactionSummary lists netBuySellDirection as "net-sell" based on 35,000 shares sold"

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Form 4 Insider Transactions: What Each Field Means →

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^*

Emmons Lance

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/15/2026

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	05/15/2026		S(1)		35,000	D	$56.36(2)	84,262	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

Explanation of Responses:

1. This transaction was effected pursuant to a previously established Rule 10b5-1 Plan adopted by the Reporting Person on December 17, 2025.

2. This transaction was executed in multiple trades throughout the day at prices ranging from $55.19 to $57.02. The price reported above reflects the average sale 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.

Remarks:

	/s/Alessandra Maria Corona Henriques, Attorney-in-Fact	05/18/2026
	** 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)

FAQ

What insider transaction did MIAX EVP and CFO Lance Emmons report?

Lance Emmons reported selling 35,000 shares of Miami International Holdings Common Stock in an open-market transaction. The shares were sold at an average price of $56.36 per share, and the filing classifies this as a non-derivative, open-market sale rather than an option exercise.

At what price did MIAX’s CFO sell his 35,000 shares of Common Stock?

The EVP and CFO sold 35,000 Common Stock shares at an average price of $56.36. A footnote explains the sale was executed in multiple trades between $55.19 and $57.02, with the reported price reflecting the weighted average across all those individual transactions.

How many MIAX shares does Lance Emmons hold after this Form 4 sale?

After the reported transaction, Lance Emmons directly holds 84,262 shares of Miami International Holdings Common Stock. This means he reduced, but did not eliminate, his equity stake, retaining a substantial remaining position according to the post-transaction ownership figure disclosed in the Form 4 filing.

Was the MIAX CFO’s 35,000-share sale under a Rule 10b5-1 trading plan?

Yes. A footnote states the transaction was effected under a previously established Rule 10b5-1 plan adopted on December 17, 2025. Such plans pre-arrange trades, which generally make the timing appear more routine and less indicative of short-term views on the company’s prospects.

Did the MIAX Form 4 include any option exercises or derivative transactions?

No derivative transactions are shown in the provided data. The filing excerpt reports only a non-derivative sale of 35,000 Common Stock shares and lists zero derivative transactions in the summary, indicating no option exercises or conversions tied to this particular Form 4 event.

Was the MIAX CFO’s sale classified as a direct or indirect ownership transaction?

The sale is classified as a direct ownership transaction. The filing lists the ownership code as “D” and the ownership type as direct, with no footnotes indicating that the shares were held through a trust, LLC, or other indirect entity on behalf of the reporting person.