Form 4: MIAX CEO Gallagher Settles Tax on Restricted Stock

MIAMI INTERNATIONAL HOLDINGS, INC. CEO Thomas P. Gallagher surrendered 50,100 shares of common stock to satisfy tax obligations related to restricted stock awards.

Summary

• Thomas P. Gallagher, Chairman & CEO of MIAMI INTERNATIONAL HOLDINGS, INC. (MIAX), engaged in a transaction on February 10, 2026.
• The transaction involved the disposition of 50,100 shares of Common Stock.
• These shares were surrendered to the company to satisfy tax withholding and remittance obligations associated with the net settlement of restricted stock awards.
• The deemed price for these shares was $41.33 per share.
• This transaction does not represent a sale by Mr. Gallagher.
• Following this transaction, Mr. Gallagher beneficially owns 535,863 shares of Common Stock directly.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral-to-slightly-positive event. While shares were 'disposed of,' it was for tax purposes related to compensation, indicating the executive received an underlying award. This is a routine administrative action rather than a discretionary sale.

Positives

• The transaction indicates that Thomas P. Gallagher received restricted stock awards, which is a form of executive compensation and a positive for the executive.
• The company is fulfilling its tax obligations in connection with executive compensation, demonstrating proper corporate governance.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

StockSavvy.ai notes that insider transactions, particularly those related to executive compensation and tax obligations, are common occurrences in publicly traded companies. This specific transaction reflects a routine administrative event following the vesting of restricted stock awards for a key executive in the financial services industry.

Comparison to Industry Standards

• StockSavvy.ai observes that the practice of surrendering shares to cover tax obligations upon the vesting of restricted stock is a standard and widely accepted method of managing executive equity compensation across various industries, including financial services. This aligns with common practices seen at companies like Nasdaq, Cboe Global Markets, and Intercontinental Exchange, where executives frequently use 'sell-to-cover' or 'net settlement' mechanisms for tax purposes on equity awards.

Stakeholder Impact

• Shareholders: The transaction is a routine administrative event and is unlikely to have a direct material impact on existing shareholders. It reflects standard executive compensation practices.
• Employees: No direct impact on employees is indicated by this filing.

Key Dates

Recommendation

This Form 4 filing details a routine tax-related transaction for an executive's restricted stock awards and does not provide new information that would fundamentally alter the investment thesis for MIAMI INTERNATIONAL HOLDINGS, INC. It is a standard administrative event and not indicative of a discretionary sale or significant change in company outlook. Therefore, a 'hold' recommendation is appropriate as this filing alone does not warrant a change in investment position.

Keywords

MIAMI INTERNATIONAL HOLDINGS, MIAX, Thomas P. Gallagher, Form 4, Insider Transaction, Restricted Stock, Tax Withholding, Executive Compensation