[Form 4] MIAMI INTERNATIONAL HOLDINGS, INC. Insider Trading Activity

Rhea-AI Filing Summary

Miami International Holdings, Inc. reported that its EVP and CFO completed several incentive stock option exercises in company stock. On December 16, 2025, the executive exercised options to acquire 22,221 common shares at $13.50, 6,195 shares at $16.14, and 5,040 shares at $19.84.

After these transactions, the executive directly beneficially owned 127,612 shares of common stock. The filing also shows an incentive stock option with an exercise price of $19.84 for 5,040 shares expiring on March 28, 2033, and notes that 5,040 additional shares subject to this option are scheduled to vest on March 29, 2026, if the executive continues in service with the company or its subsidiaries.

Insider Trade Summary

33,456 shares exercised/converted

Mixed 6 txns

Insider Emmons Lance

Role EVP and CFO

Type	Security	Shares	Price	Value
Exercise	Incentive Stock Option (Right to Buy)	22,221	$0.00	--
Exercise	Incentive Stock Option (Right to Buy)	6,195	$0.00	--
Exercise	Incentive Stock Option (Right to Buy)	5,040	$0.00	--
Exercise	Common Stock	22,221	$13.50	$300K
Exercise	Common Stock	6,195	$16.14	$100K
Exercise	Common Stock	5,040	$19.84	$100K

Holdings After Transaction: Incentive Stock Option (Right to Buy) — 0 shares (Direct); Common Stock — 116,377 shares (Direct)

Footnotes (1)

1. The options are fully vested. 5,040 of the shares subject to this incentive stock option are vested and the remaining 5,040 will vest on March 29, 2026 subject to the reporting person's continued service to the Issuer or its subsidiaries through the applicable vesting date.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Emmons Lance

(Last) (First) (Middle)

C/O MIAMI INTERNATIONAL HOLDINGS, INC.

7 ROSZEL ROAD, SUITE 1A

(Street)

PRINCETON NJ 08540

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
MIAMI INTERNATIONAL HOLDINGS, INC. [ MIAX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP and CFO

3. Date of Earliest Transaction (Month/Day/Year)
12/16/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	12/16/2025		M		22,221	A	$13.5	116,377	D
Common Stock	12/16/2025		M		6,195	A	$16.14	122,572	D
Common Stock	12/16/2025		M		5,040	A	$19.84	127,612	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Incentive Stock Option (Right to Buy)	$13.5	12/16/2025		M			22,221	(1)	03/05/2030	Common Stock	22,221	$0	0	D
Incentive Stock Option (Right to Buy)	$16.14	12/16/2025		M			6,195	(1)	09/09/2031	Common Stock	6,195	$0	0	D
Incentive Stock Option (Right to Buy)	$19.84	12/16/2025		M			5,040	(2)	03/28/2033	Common Stock	5,040	$0	5,040	D

Explanation of Responses:

1. The options are fully vested.

2. 5,040 of the shares subject to this incentive stock option are vested and the remaining 5,040 will vest on March 29, 2026 subject to the reporting person's continued service to the Issuer or its subsidiaries through the applicable vesting date.

Remarks:

	/s/ Barbara J. Comly, Attorney-in-fact	12/17/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
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