Form 4: MIAX EVP & CIO Schafer Reports Tax-Related Stock Disposition

Miami International Holdings' EVP and CIO, Douglas M. Schafer Jr., reported a disposition of 108,550 common shares to cover tax obligations related to restricted stock awards.

Summary

• Douglas M. Schafer Jr., Executive Vice President and Chief Information Officer of Miami International Holdings, Inc. (MIAX), reported a transaction on February 10, 2026.
• The transaction involved the disposition of 108,550 shares of common stock at a price of $41.33 per share.
• This disposition was explicitly stated as shares surrendered to the company to satisfy tax withholding and remittance obligations in connection with the net settlement of restricted stock awards, and does not represent a sale by the reporting person.
• Following this reported transaction, Mr. Schafer beneficially owns 429,246 shares of common stock directly.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral event, as the disposition is for tax purposes related to executive compensation and not a discretionary sale, indicating no change in insider sentiment regarding the company's prospects.

Positives

• The transaction is a tax-related disposition, not a discretionary market sale by the insider, which typically does not signal a lack of confidence in the company's future.
• The insider retains a significant beneficial ownership of 429,246 shares of common stock, indicating continued alignment with shareholder interests.

Negatives

• The direct share count held by the insider has decreased by 108,550 shares, even though it was for tax purposes.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that tax-related dispositions of restricted stock are a common occurrence for executives as part of their compensation plans and do not typically reflect a change in the company's operational performance or strategic direction. This is a routine compliance filing.

Stakeholder Impact

• Shareholders: Minimal direct impact as this is a routine tax event, not a market sale, and the insider retains substantial holdings.
• Employees: No direct impact on the broader employee base is indicated by this filing.

Key Dates

Recommendation

This Form 4 filing details a routine tax-related disposition of shares by an executive, not a discretionary sale. Such transactions are common for executives receiving restricted stock as part of their compensation and do not typically signal a change in the company's fundamentals or the executive's confidence. The executive retains a substantial holding, suggesting continued alignment with shareholder interests. Therefore, the filing itself does not provide new information that would warrant a change in investment thesis, leading to a 'hold' recommendation.

Keywords

Miami International Holdings, MIAX, Form 4, Insider Transaction, Stock Disposition, Tax Withholding, Restricted Stock Awards, Executive Compensation, Douglas M. Schafer Jr.