Welcome to our dedicated page for Miami Intl Hldg SEC filings (Ticker: MIAX), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The SEC filings of Miami International Holdings, Inc. (NYSE: MIAX) provide detailed information about its capital markets activity, segment reporting and regulatory disclosures as an exchange operator. Through documents such as Form S-1 and Form 8-K, the company describes its business structure, operating segments and equity transactions.
In its Form S-1 registration statement, Miami International Holdings identifies operating segments associated with options, equities, futures and international markets, along with a corporate/non-segment category. The filing references revenue categories including transaction and clearing fees, access fees, market data fees and other products and services, giving investors insight into how the company characterizes its exchange-related activities.
Recent Form 8-K filings highlight specific events. An 8-K dated December 15, 2025 discloses unregistered sales of equity securities, including common stock issued upon conversion of a convertible promissory note and upon warrant exercises, and notes that aggregate unregistered issuances exceeded a threshold relative to shares outstanding as of a prior date. The same filing also describes the completion of a public secondary offering in which existing stockholders sold shares of common stock, with the company stating that it did not sell shares or receive proceeds.
Other 8-K reports address topics such as quarterly financial results, changes in the board of directors and the announcement of an agreement to sell a majority stake in MIAX Derivatives Exchange (MIAXdx) to Robinhood Markets, Inc. in partnership with Susquehanna International Group. These filings illustrate how the company uses current reports to communicate material events, corporate governance changes and strategic transactions.
On Stock Titan’s MIAX filings page, users can review these SEC documents as they are made available through EDGAR. AI-powered tools can help summarize lengthy forms such as S-1 and 8-K, highlight key segment and revenue disclosures, and surface notable equity issuance and offering details, making it easier to understand the regulatory information Miami International Holdings provides.
MIAMI INTERNATIONAL HOLDINGS, INC. executive Barbara J. Comly, EVP, GC & Corporate Secretary, exercised incentive stock options to acquire a total of 33,332 shares of Common Stock at $12.00 per share. Following these option exercises, she directly owns 845,292 shares of Common Stock.
MIAMI INTERNATIONAL HOLDINGS, INC. director Murray Stahl reported an indirect open‑market purchase of 7,200 shares of common stock at $43.08 per share through accounts managed by Horizon Kinetics Asset Management LLC. Those accounts held 4,633,842 shares of the issuer’s common stock after this transaction.
Stahl also reported fully vested option positions held directly, with post‑transaction holdings of 7,500 options, 10,000 options, 14,331 options, and 2,500 options as of March 5, 2026.
Miami International Holdings, Inc. reported an amended insider transaction involving accounts managed by Horizon Kinetics Asset Management LLC. On March 4, 2026, those managed accounts bought 7,200 shares of Common Stock of MIAX at $43.38 per share, recorded as indirect ownership through Horizon Kinetics.
Murray Stahl, a director of the company and Chairman, Chief Executive Officer, and Chief Investment Officer of Horizon Kinetics Asset Management, is associated with these accounts but does not exercise investment discretion over their MIAX securities and disclaims beneficial ownership except for any pecuniary interest. The amendment also updates fully vested option holdings reported directly in his name.
MIAMI INTERNATIONAL HOLDINGS, INC. reported that ten percent owner Horizon Kinetics Asset Management LLC (HKAM) exercised warrants for a total of 112,656 shares of common stock on March 2, 2026. The warrants were exercised on a cashless basis, with the issuer withholding 53,578 shares to cover the exercise price and issuing 59,078 shares to HKAM. The filing also shows HKAM reporting an open-market sale of 53,578 common shares at $40.92 per share, leaving HKAM with 4,619,442 common shares held indirectly. Director Murray Stahl is shown with several fully vested option positions held directly, with updated post‑transaction option balances and no new option exercises disclosed.
Miami International Holdings, Inc. describes how it has evolved into a multi-asset exchange and clearing group spanning U.S. options, equities, futures and international listings. The company’s proprietary technology underpins five SEC‑regulated exchanges, a CFTC‑regulated futures complex and overseas venues in Bermuda and Guernsey.
In 2025, MIAX exchanges handled 2.4 billion U.S. options contracts, up 41.1% from 2024 and representing 17.1% market share, while futures volume at MIAX Futures reached 3.3 million contracts, a 2.2% increase. MIAX Pearl Equities traded 45.8 billion shares, down 8.2% year over year with 1.0% market share.
The company highlights major strategic steps, including acquiring The International Stock Exchange Group, expanding BSX’s role in insurance‑linked securities, signing a 10‑year exclusive index license with Bloomberg for new futures and options, and selling 90% of MIAXdx while retaining a 10% stake. As of December 31, 2025, non‑affiliate equity market value was $2.98 billion based on a $44.38 NYSE share price, with 91,651,482 common shares outstanding at February 20, 2026.
MIAMI INTERNATIONAL HOLDINGS, INC. director Murray Stahl reported an indirect open‑market purchase of 7,200 shares of Common Stock of MIAX on March 4, 2026 at $43.38 per share. The shares are held in managed accounts of Horizon Kinetics Asset Management LLC, which now report 4,696,666 shares following the transaction.
The filing also lists fully vested options held directly by Mr. Stahl, with post‑transaction holdings of 7,500, 10,000, 14,331, and 2,500 options across several grants. The footnotes state that Mr. Stahl does not exercise investment discretion over the managed accounts and disclaims beneficial ownership except for any pecuniary interest.
MIAMI INTERNATIONAL HOLDINGS, INC. insider activity centers on Horizon Kinetics Asset Management LLC (HKAM), a ten percent owner associated with director Murray Stahl. HKAM exercised warrants to purchase 341,522 shares of common stock at the exercise prices noted.
According to the disclosure, HKAM used a cashless exercise structure, with the issuer withholding 121,054 warrant shares to pay the exercise price and issuing 129,102 shares of common stock to HKAM. After these transactions, HKAM’s indirect common stock holdings stood at 4,689,466 shares. Separately, Mr. Stahl holds fully vested options as reported.
Miami International Holdings, Inc. reported unregistered sales of equity securities related to warrant exercises. Between February 18 and February 25, 2026, the company issued 1,033,166 shares of common stock through cashless exercises of pre-funded warrants and warrants held by two warrant holders, in exchange for the surrender of 29,404 existing common shares.
On February 25, 2026, 842,531 shares were issued for the surrender of 44 shares upon exercise of pre-funded warrants, and 190,635 shares were issued for the surrender of 29,360 shares upon exercise of warrants with a $5.50 exercise price. These issuances relied on the Securities Act Section 4(a)(2) registration exemption.
Miami International Holdings reported strong growth for Q4 and full year 2025 while remaining GAAP unprofitable for the year. Q4 net revenue rose 52% to $124.5 million, with GAAP diluted EPS of $0.27 and adjusted EBITDA of $62.2 million, up 112% year over year and producing a 50% adjusted EBITDA margin.
For 2025, net revenue grew 56% to $430.5 million, but GAAP diluted EPS was a loss of ($1.00) due mainly to non-operating items, while adjusted EBITDA increased 143% to $199.1 million and adjusted diluted EPS reached $1.82. Options remained the core driver, with options net revenue up 46% and MIAX options market share at 18.2% in Q4. The company closed a secondary offering, completed its IPO earlier in the year, acquired TISE, and sold 90% of MIAXdx. As of December 31, 2025, it held $433.6 million in cash and cash equivalents and $1.5 million in total debt, and issued 2026 guidance for adjusted operating expenses of $265–$275 million, along with targets for share-based compensation, capex, depreciation, and an adjusted effective tax rate of 27–29%.
Miami International Holdings, Inc. reported issuing 2,150,894 shares of common stock between February 9 and February 18, 2026 in an unregistered equity transaction. The shares were issued upon the partial cashless exercise of a pre-funded warrant by a warrant holder.
As consideration, the holder surrendered 106 existing common shares instead of paying cash, so the transaction increased the total number of shares outstanding without bringing in cash proceeds. The newly issued shares have a par value of $0.001 per share and trade on the New York Stock Exchange under the symbol MIAX.