MIAX MIAMI INTERNATIONAL HOLDINGS, INC.
Price Chart
Executive Summary
Five MIAX insiders, including the Chairman & CEO and multiple EVPs, collectively sold $7.58M in open-market shares on June 2, 2026, all at prices between $42.12 and $42.85. The sales were preceded by derivative exercises at $12/share, indicating a coordinated cash-out of vested options. While the dollar amount is modest relative to the $3.8B market cap (~0.2%), the cluster involves the CEO and four senior executives selling on the same day, which is notable.
Key Financial Metrics
Actionable Insight
The simultaneous sale by the CEO and four EVPs on the same day, all following option exercises, suggests a coordinated exit that may signal insider concern about near-term valuation. Monitor for upcoming earnings or material news that could explain the timing. The stock's recent volatility (T+5 moves of +10-15% in prior filings) suggests the market may react sharply to this signal.
Key Facts
- Chairman & CEO Thomas P. Gallagher sold 70,000 shares for $2.97M
- EVP & CIO Douglas M. Schafer Jr. sold 48,000 shares for $2.06M
- EVP, GC & Corporate Secretary Barbara J. Comly sold 28,000 shares for $1.20M
- EVP, Chief Strategy Officer Shelly Brown sold 16,000 shares for $674K
- EVP, CRO, CCO MIAX Exchanges Edward Deitzel sold 11,000 shares for $464K
- Director Kurt M. Eckert sold 5,250 shares for $224K
- All sales occurred on June 2, 2026, with derivative exercises at $12/share
- Total open-market sales: $7.58M, representing ~0.2% of market cap
- No open-market purchases were made by any insider in this cluster
Financial Impact
Insider sales of $7.58M, approximately 0.2% of MIAX's $3.8B market cap
Risk Factors
- Insider sales cluster may indicate management sees limited near-term upside
- All sales were open-market, not 10b5-1 plan-driven, increasing informational content
- CEO selling $2.97M in a single day is a strong negative signal
- No insider buying to offset the selling pressure
Market Snapshot
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-MIAX-1780606376882 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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Jun 4, 2026
2d ago
|
Insider Cluster
| — | awaiting T+20 | — | — |
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Jun 4, 2026
2d ago
|
Insider Cluster
| — | awaiting T+20 | — | — |
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Jun 4, 2026
2d ago
|
Insider Cluster
| — | awaiting T+20 | — | — |
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Jun 4, 2026
2d ago
|
Insider Cluster
| — | awaiting T+20 | — | — |
|
May 6, 2026
4w ago
|
8-K
| $49.77 $40.33 | ▼ −18.97% | ▼ −22.10% | $39.21 (−21.22%) |
|
May 4, 2026
4w ago
|
Insider Cluster
| $47.31 $46.10 | ▼ −2.56% | ▼ −8.20% | $39.21 (−17.12%) |
|
May 4, 2026
4w ago
|
Insider Cluster
| $47.31 $46.10 | ▲ +2.56% | ▲ +8.20% | $39.21 (+17.12%) |
|
May 4, 2026
4w ago
|
Insider Cluster
| $47.31 $46.10 | ▼ −2.56% | ▼ −8.20% | $39.21 (−17.12%) |
|
May 4, 2026
4w ago
|
Insider Cluster
| $47.31 $46.10 | ▼ −2.56% | ▼ −8.20% | $39.21 (−17.12%) |
|
Apr 27, 2026
5w ago
|
DEFA14A
| $46.72 $49.21 | ▲ +5.33% | ▲ +0.37% | $39.21 (−16.07%) |
US Market Status
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