4/A: MIAX Director Amends Holdings, Corrects Beneficial Ownership

Murray Stahl, a director of Miami International Holdings, Inc., filed an amended Form 4 to correct previously reported beneficial ownership of common stock and detail his derivative holdings.

Summary

• Murray Stahl, a director of Miami International Holdings, Inc. (MIAX), filed an amended Form 4 (4/A) to correct a previous filing.
• The amendment addresses an incorrect amount of securities beneficially owned in the original filing.
• The filing reports an acquisition of 7,200 shares of common stock at a price of $43.38 per share on March 4, 2026.
• Following this transaction, 4,626,642 shares of common stock are beneficially owned indirectly through Horizon Kinetics Asset Management LLC.
• Mr. Stahl also holds several fully vested options: 7,500 options at $16.14 (expiring 07/31/2031), 10,000 options at $25.98 (expiring 06/30/2032), 14,331 options at $19.84 (expiring 03/26/2033), and 2,500 options at $16.14 (expiring 05/31/2031).

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a moderately positive signal due to the director's acquisition of shares, despite the administrative correction, indicating continued insider confidence.

Positives

• Director Murray Stahl acquired 7,200 shares of common stock, indicating continued investment and confidence in the company.
• All reported options held by Mr. Stahl are fully vested, providing immediate exercisability.

Negatives

• The filing is an amendment correcting a previous error, which could suggest administrative oversight in prior reporting.

Future Outlook

This filing does not contain forward-looking statements or guidance, as it primarily reports insider transactions and beneficial ownership.

Management Comments

• Murray Stahl disclaims beneficial ownership over the securities reported, except to the extent of his pecuniary interest therein, if any.
• The filing of this Form shall not be deemed an admission that Mr. Stahl is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

Industry Context

StockSavvy.ai notes that insider buying, even in the context of an amendment, can be viewed positively by the market as it signals confidence from those with intimate knowledge of the company. However, the primary focus of this filing is on compliance and correction rather than strategic industry positioning.

Related Party Transactions

• The indirect beneficial ownership through Horizon Kinetics Asset Management LLC, where Murray Stahl serves as Chairman, CEO, and CIO, could be considered a related party arrangement for reporting purposes, though no specific 'transaction' with a related party is detailed beyond the ownership structure.

Stakeholder Impact

• Shareholders: May view the director's share acquisition as a positive sign of confidence in the company's future.
• Regulatory Authorities: The amendment demonstrates compliance with SEC reporting requirements, correcting previous information.

Key Dates

Recommendation

While the director's purchase of shares indicates confidence, this filing is primarily a correction of beneficial ownership and does not provide new fundamental information to warrant a strong buy or sell recommendation. The administrative nature of the amendment suggests a 'hold' as investors await more substantive operational or financial updates.

Keywords

Miami International Holdings, MIAX, Murray Stahl, Form 4/A, Insider Trading, Beneficial Ownership, Stock Options, Director Holdings, Horizon Kinetics Asset Management