Form 4: Insider Transaction: Barbara Comly Exercises MIAX Options

EVP and General Counsel Barbara Comly exercised 28,000 stock options and sold the resulting shares under a 10b5-1 trading plan.

Summary

• Barbara J. Comly, EVP, GC & Corporate Secretary of Miami International Holdings, Inc., exercised 28,000 nonqualified stock options at a strike price of $12.00.
• Following the exercise, the reporting person sold 28,000 shares of common stock at a weighted average price of $42.85 per share.
• The transactions were executed on June 2, 2026, pursuant to a Rule 10b5-1 trading plan adopted on December 18, 2025.
• The reporting person retains beneficial ownership of 843,844 shares of common stock following these transactions.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, as the sale was conducted under a pre-established 10b5-1 plan and represents a small portion of the executive's total holdings.

Positives

• The transaction was pre-planned under a Rule 10b5-1 plan, indicating the sale was not based on sudden non-public information.
• The reporting person maintains a significant equity stake of 843,844 shares in the company.

Negatives

• The transaction represents a divestment of 28,000 shares by a key executive.

Risks

• Market volatility could impact the value of the remaining 843,844 shares held by the executive.

Future Outlook

No forward-looking guidance provided in this filing.

Industry Context

StockSavvy.ai notes that insider selling via 10b5-1 plans is a standard practice for executives to manage personal liquidity and diversify portfolios, and is generally viewed as neutral by the market when pre-planned.

Comparison to Industry Standards

• The use of Rule 10b5-1 plans is the industry standard for corporate insiders to avoid allegations of insider trading.
• The volume of shares sold relative to the total holdings (approx. 3.2% of the reported 871,844 shares) is consistent with typical executive diversification strategies.

Stakeholder Impact

• Minimal impact expected as the transaction was pre-planned and represents a standard executive liquidity event.

Next Steps

• No future actions or milestones were disclosed in this filing.

Key Dates

Keywords

MIAX, Insider Trading, Form 4, Miami International Holdings, Stock Options, Rule 10b5-1