Form 4: SEC Form 4: Gallagher Acquires MIAX Stock

Thomas P. Gallagher, Chairman & CEO of Miami International Holdings, Inc. (MIAX), reported the acquisition of common stock and stock options on June 16, 2026.

Summary

• Thomas P. Gallagher, Chairman & CEO and Director of Miami International Holdings, Inc. (MIAX), filed a Form 4 statement detailing transactions on June 16, 2026.
• Gallagher acquired 232,977 shares of common stock, represented by restricted stock units (RSUs), with vesting scheduled over three years starting June 16, 2027.
• Additionally, Gallagher acquired stock options to purchase 2,485 shares of common stock at an exercise price of $40.24, with vesting over three years starting June 16, 2027.
• He also acquired nonqualified stock options to purchase 237,175 shares of common stock at an exercise price of $40.24, with vesting over three years starting June 16, 2027.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive filing, as it indicates insider confidence and commitment through the acquisition of equity and options, with clear vesting schedules.

Positives

• The reporting person, a key executive and director, is increasing their beneficial ownership in the company through the acquisition of RSUs and stock options.
• The acquisition of stock options at a price of $40.24 suggests a belief in future stock price appreciation.
• The vesting schedules for the RSUs and options are spread over three years, indicating a commitment to continued service and long-term alignment with the company's performance.

Risks

• The vesting of RSUs and stock options is contingent upon the Reporting Person's continued service to the Issuer or its subsidiaries, implying a risk of forfeiture if service is terminated.
• The exercise price of the stock options ($40.24) means that the value of these options is dependent on the stock price exceeding this threshold.

Future Outlook

The vesting schedules for the acquired RSUs and stock options extend over three years, indicating a long-term commitment from the reporting person, contingent on continued service.

Industry Context

StockSavvy.ai notes that insider transactions, particularly the acquisition of stock by key executives and directors, are often viewed positively by the market as they signal confidence in the company's future prospects. This filing by the Chairman & CEO of MIAX aligns with this trend.

Stakeholder Impact

• Shareholders may view this as a positive signal of management's confidence in the company's future performance.
• Employees may be motivated by the continued commitment and investment of key leadership.
• Creditors and suppliers may see this as a sign of stability and strong leadership.

Next Steps

• Vesting of RSUs and stock options over the next three years, subject to continued service.
• Potential exercise of stock options if the stock price exceeds the exercise price of $40.24.

Key Dates

Keywords

SEC Form 4, Insider Transaction, Miami International Holdings, MIAX, Thomas P. Gallagher, Stock Options, Restricted Stock Units, Beneficial Ownership, Executive Compensation