MIAX MIAMI INTERNATIONAL HOLDINGS, INC.
Price Chart
Executive Summary
Three top executives (CEO, EVP/CIO, EVP/CSO) sold a combined $5.70M in open-market shares on June 2, 2026, following derivative exercises at $0 and $12 strike prices. The sales represent ~0.15% of MIAX's $3.8B market cap — a modest but notable cluster involving the entire C-suite, all on the same day, suggesting coordinated post-vesting liquidity rather than a bearish signal.
Key Financial Metrics
Actionable Insight
The cluster is modest in size relative to market cap and follows a textbook cashless-exercise pattern — not a strong bearish signal. However, the simultaneous C-suite selling warrants monitoring for any upcoming negative news (earnings miss, regulatory action). The cross-filing amplifiers suggest that if an earnings or offering filing appears soon, this cluster becomes more informative. For now, treat as routine post-vesting liquidity.
Key Facts
- Chairman & CEO Thomas Gallagher sold 70,000 shares for $2.97M at $42.36
- EVP & CIO Douglas Schafer sold 48,000 shares for $2.06M at $42.84
- EVP & CSO Shelly Brown sold 16,000 shares for $674K at $42.12
- All three insiders exercised options at $0 or $12 strike before selling — typical cashless exercise pattern
- Total cluster value of $5.70M equals ~0.15% of MIAX's $3.8B market cap
- All sales occurred on the same day (June 2, 2026), consistent with a shared blackout-window opening or vesting schedule
Financial Impact
$5.70M in open-market sales by three top executives, representing ~0.15% of market cap
Risk Factors
- All three top executives selling on the same day could indicate coordinated insider concern ahead of undisclosed negative news
- If an earnings miss or dilutive offering follows within 30 days, the cluster's significance would be amplified per historical calibration
Market Snapshot
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-MIAX-1780605728917 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 12, 2026
2d ago
|
Insider Cluster
| $43.34 awaiting T+20 | awaiting T+20 | — | $43.29 (−0.12%) |
|
Jun 11, 2026
3d ago
|
Institutional Cluster
| $40.78 awaiting T+20 | awaiting T+20 | — | $43.29 (+6.15%) |
|
Jun 11, 2026
3d ago
|
Institutional Cluster
| $40.78 awaiting T+20 | awaiting T+20 | — | $43.29 (+6.15%) |
|
Jun 4, 2026
10d ago
|
Insider Cluster
| $39.80 awaiting T+20 | awaiting T+20 | — | $43.29 (+8.77%) |
|
Jun 4, 2026
10d ago
|
Insider Cluster
| $39.80 awaiting T+20 | awaiting T+20 | — | $43.29 (−8.77%) |
|
Jun 4, 2026
10d ago
|
Insider Cluster
| $39.80 awaiting T+20 | awaiting T+20 | — | $43.29 (+8.77%) |
|
Jun 4, 2026
10d ago
|
Insider Cluster
| $39.80 awaiting T+20 | awaiting T+20 | — | $43.29 (+8.77%) |
|
May 6, 2026
5w ago
|
8-K
| $49.77 $40.33 | ▼ −18.97% | ▼ −22.10% | $43.29 (−13.02%) |
|
May 4, 2026
6w ago
|
Insider Cluster
| $47.31 $46.10 | ▼ −2.56% | ▼ −8.20% | $43.29 (−8.50%) |
|
May 4, 2026
6w ago
|
Insider Cluster
| $47.31 $46.10 | ▲ +2.56% | ▲ +8.20% | $43.29 (+8.50%) |
US Market Status
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