Form 4: Director Sells MIAX Shares Under 10b5-1 Plan
Insider Transaction Report
Judson Gray Teekell, a Director at Miami International Holdings, Inc. (MIAX), reported the sale of 3,000 common shares under a pre-established Rule 10b5-1 trading plan.
Summary
- Judson Gray Teekell, a Director of Miami International Holdings, Inc. (MIAX), sold 3,000 shares of common stock on May 4, 2026.
- The sale was executed as part of a Rule 10b5-1 trading plan adopted on December 17, 2025.
- The weighted average sale price was $47.30 per share, with individual trades ranging from $47.14 to $47.55.
- Following this transaction, Teekell beneficially owns 56,338 shares of common stock.
Sentiment
Score: 4
Explanation: StockSavvy.ai views this as a slightly negative sentiment due to the director's sale of shares, despite it being executed under a pre-planned trading strategy.
Negatives
- Director Judson Gray Teekell sold a significant number of shares (3,000) which could be perceived negatively by the market.
Risks
- The sale was conducted under a Rule 10b5-1 plan, which is designed to mitigate insider trading concerns, but the act of selling by a director can still be interpreted as a lack of confidence in future stock performance.
Future Outlook
The filing does not contain forward-looking statements or guidance regarding the company's future performance. It solely reports a transaction by a director.
Industry Context
StockSavvy.ai notes that insider selling, even under a Rule 10b5-1 plan, can sometimes lead to increased investor scrutiny, particularly in the financial services sector where transparency and confidence are paramount.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Rule 10b5-1 Plan | Transaction executed under a pre-established Rule 10b5-1 trading plan adopted by the Reporting Person. | 12/17/2025 | This plan allows for the sale of securities at times when the reporting person might otherwise be restricted from trading due to possession of material non-public information, thereby providing an affirmative defense against allegations of insider trading. |
Stakeholder Impact
- Shareholders: May view the director's sale as a potential negative signal, although the Rule 10b5-1 plan mitigates insider trading concerns.
- Management: The transaction is a routine disclosure and does not directly impact other management members.
- Creditors/Suppliers: No direct impact expected from this insider transaction.
Next Steps
- The reporting person will continue to hold 56,338 shares of common stock.
- The Rule 10b5-1 plan may continue to execute trades in the future, subject to its terms.
Key Dates
| Date | Description |
|---|---|
| 12/17/2025 | Date Rule 10b5-1 Plan was adopted by the Reporting Person. |
| 05/04/2026 | Date of the reported transaction (sale of common stock). |
| 05/05/2026 | Date the Form 4 was signed by the Reporting Person's Attorney-in-Fact. |
Keywords
Form 4, Insider Trading, Rule 10b5-1, Miami International Holdings, MIAX, Stock Sale, Director Transaction, Beneficial Ownership
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