Form 4: Miami International Holdings Executive Equity Grant

Douglas M. Schafer Jr., EVP and CIO of Miami International Holdings, Inc., received a significant grant of restricted stock units and stock options.

Summary

• Douglas M. Schafer Jr., Executive Vice President and Chief Information Officer of Miami International Holdings, Inc. (MIAX), was granted equity awards on June 16, 2026.
• The grant includes 23,298 restricted stock units (RSUs) with vesting scheduled over three years: 7,766 on June 16, 2027, 7,766 on June 16, 2028, and 7,766 on June 16, 2029.
• Additionally, Schafer received an incentive stock option for 2,485 shares and a nonqualified stock option for 21,481 shares, both with an exercise price of $40.24 and an expiration date of June 15, 2036.
• The vesting for these stock options is also staggered over three years, with portions vesting on June 16, 2027, June 16, 2028, and June 16, 2029.
• These awards are contingent upon Schafer's continued service to the company or its subsidiaries through each respective vesting date.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive filing, reflecting standard executive compensation practices rather than significant company performance news.

Positives

• Significant equity grants to a key executive (EVP and CIO) indicate a commitment to retaining and incentivizing leadership.
• The staggered vesting schedule for RSUs and stock options aligns executive interests with long-term company performance and employee retention.
• The grant of both incentive and nonqualified stock options provides flexibility and potential upside for the executive.

Negatives

• The exercise price of the stock options ($40.24) is a benchmark that the stock price must exceed for the options to be profitable.
• Vesting is contingent on continued service, meaning the executive could forfeit unvested awards if they leave the company before the vesting dates.

Risks

• The value of the granted equity is subject to market fluctuations and the future performance of Miami International Holdings, Inc.
• If the company's stock price does not appreciate above the $40.24 exercise price, the stock options may not provide any financial benefit.
• The executive's continued service is a condition for vesting, introducing a risk of forfeiture if employment is terminated before vesting dates.

Future Outlook

The future outlook for the granted equity is dependent on the continued service of Douglas M. Schafer Jr. and the future stock performance of Miami International Holdings, Inc. The RSUs vest over three years, and the stock options are exercisable until June 15, 2036, provided the executive remains employed.

Industry Context

StockSavvy.ai notes that grants of stock options and RSUs to senior executives are a common practice in the financial services and exchange industry to align executive incentives with shareholder value and to attract and retain talent in a competitive market.

Stakeholder Impact

• Shareholders: The grants are a form of compensation and dilution, but also aim to align executive interests with long-term shareholder value.
• Employees: May be seen as a positive sign of executive commitment and potential for future growth, though direct impact is limited.
• Management: Reinforces the incentive structure for key executives.

Next Steps

• Continued service by Douglas M. Schafer Jr. to meet vesting requirements for RSUs and stock options.
• Monitoring of Miami International Holdings, Inc.'s stock price relative to the $40.24 option exercise price.

Key Dates

Keywords

Miami International Holdings, MIAX, Form 4, Equity Grant, Stock Options, Restricted Stock Units, Executive Compensation, Insider Trading, SEC Filing, Douglas M. Schafer Jr.