Miami International CIO exercises options, sells 48K shares
MIAMI INTERNATIONAL HOLDINGS, INC.
Rhea-AI Filing Summary
MIAMI INTERNATIONAL HOLDINGS, INC. (MIAX) reported that executive vice president and chief information officer Douglas M. Schafer Jr. exercised options for a total of 48,000 shares of common stock at an exercise price of $12.00 per share on September 2, 2026, and sold 48,000 shares the same day at a weighted average price of $40.48 per share. The sales were executed in multiple trades between $39.69 and $41.80 and were made pursuant to a previously established Rule 10b5-1 trading plan adopted on December 16, 2025; the options exercised were fully vested.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and Sale: 48,000 shares ($1.37M approx. pre-tax spread)
Exercise and Sale
5 txns
Insider
Schafer Douglas M. JR
Role
EVP and CIO
Sold
48,000 shs ($1.94M)
Approx. gross sale proceeds
$1.94M
Approx. exercise cost
$576K
Approx. pre-tax spread
$1.37M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Nonqualified Stock Option (Right to Buy) F1, F3 | 43,334 | $0.00 | $0.00 |
| Exercise | Nonqualified Stock Option (Right to Buy) F1, F3 | 4,666 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 43,334 | $12.00 | $520K |
| Exercise | Common Stock F1 | 4,666 | $12.00 | $56K |
| Sale | Common Stock F1, F2 | 48,000 | $40.48 | $1.94M |
Holdings After Transaction:
Nonqualified Stock Option (Right to Buy) — 195,334 contracts (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 $39.69 to $41.80. 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: 48,000 shares
Weighted average sale price: $40.48 per share
Sale price range: $39.69–$41.80 per share
+5 more
8 metrics
Shares sold
48,000 shares
Common stock sold by the executive on September 2, 2026
Weighted average sale price
$40.48 per share
Weighted average price for 48,000 shares sold on September 2, 2026
Sale price range
$39.69–$41.80 per share
Price range of multiple trades for the 48,000 shares sold
Options exercised
48,000 shares
Nonqualified stock options converted into common stock on September 2, 2026
Option exercise price
$12.00 per share
Exercise price for the 48,000 options converted into common stock
Option tranche 1 size
43,334 shares
Portion of nonqualified stock options expiring May 17, 2028
Option tranche 2 size
4,666 shares
Portion of nonqualified stock options expiring July 31, 2029
Rule 10b5-1 plan adoption date
December 16, 2025
Date the executive’s trading plan governing these transactions was adopted
Key Terms
Rule 10b5-1 Plan, weighted average sales price, Nonqualified Stock Option
3 terms
Rule 10b5-1 Plan regulatory
"This transaction was effected pursuant to a previously established Rule 10b5-1 Plan adopted by the Reporting Person on December 16, 2025"
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"
Nonqualified Stock Option financial
"Nonqualified Stock Option (Right to Buy)"
A nonqualified stock option (NQSO) is a company grant that gives an individual the right to buy shares at a set price but does not meet special tax rules for incentive stock options; when exercised the difference between the market price and the exercise price is treated as ordinary income for the recipient and as a tax-deductible expense for the company. It matters to investors because NQSOs affect an employee’s after-tax proceeds, the company’s reported expenses, and potential share dilution—think of it like a cash bonus that converts into stock but is taxed as regular pay when you take it.
FAQ
What insider transaction did MIAX report for Douglas M. Schafer Jr.?
MIAX reported that Douglas M. Schafer Jr. exercised options for 48,000 shares of common stock at $12.00 per share on September 2, 2026, and sold 48,000 shares the same day at a weighted average price of $40.48 per share.
What was the exercise price of the options exercised by the MIAX executive?
Douglas M. Schafer Jr. exercised options for 48,000 shares of MIAX common stock at an exercise price of $12.00 per share on September 2, 2026, using nonqualified stock options that were fully vested.
Were the MIAX insider transactions made under a Rule 10b5-1 plan?
Yes. The reported option exercises and related sale of 48,000 shares of MIAX common stock were effected pursuant to a previously established Rule 10b5-1 trading plan adopted by the reporting person on December 16, 2025.
How many MIAX options did the executive exercise on September 2, 2026?
On September 2, 2026, the executive exercised nonqualified stock options covering 43,334 shares of MIAX common stock that expire on May 17, 2028, and 4,666 shares that expire on July 31, 2029, for a total of 48,000 shares at $12.00 per share.
Were the MIAX options exercised by the executive fully vested?
Yes. The filing states that the nonqualified stock options exercised for 48,000 shares of MIAX common stock were fully vested at the time of exercise on September 2, 2026.
AI-generated analysis. How Rhea-AI works. Not financial advice.
