Director Stahl Murray bought $167 worth of shares (4 units at $41.76) (SEC Form 4)
$MIAX
Investment Bankers/Brokers/Service
Finance
| 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 |
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| 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*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
MIAMI INTERNATIONAL HOLDINGS, INC. [ MIAX ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 09/26/2025 | ||||||||||||||||||||||||||
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4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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| 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 | 09/26/2025 | P | 4 | A | $41.76 | 4,557,923(1)(2) | I | Horizon Kinetics Asset Management LLC | ||
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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| 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 | ||||||||
| OPTIONS | $16.14(3) | 08/13/2025 | 05/31/2031 | Miami International Holdings Inc | 2,500 | 2,500 | D | ||||||||
| OPTIONS | $16.14(3) | 08/13/2025 | 07/31/2031 | Miami International Holdings Inc | 7,500 | 7,500 | D | ||||||||
| OPTIONS | $25.98(3) | 08/13/2025 | 06/30/2032 | Miami International Holdings Inc | 10,000 | 10,000 | D | ||||||||
| OPTIONS | $19.84(3) | 08/13/2025 | 03/26/2033 | Miami International Holdings Inc | 14,331 | 14,331 | D | ||||||||
| Warrants | $20.5(1)(4) | 08/13/2025 | 11/15/2026 | Miami International Holdings Inc | 24,878 | 24,878 | I | Horizon Kinetics Asset Management LLC | |||||||
| Warrants | $20.5(1)(4) | 08/13/2025 | 02/05/2027 | Miami International Holdings Inc | 27,561 | 27,561 | I | Horizon Kinetics Asset Management LLC | |||||||
| Warrants | $15(1)(4) | 08/13/2025 | 04/08/2026 | Miami International Holdings Inc | 21,290 | 21,290 | I | Horizon Kinetics Asset Management LLC | |||||||
| Warrants | $20.5(1)(4) | 08/13/2025 | 10/17/2026 | Miami International Holdings Inc | 38,927 | 38,927 | I | Horizon Kinetics Asset Management LLC | |||||||
1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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| Explanation of Responses: |
| 1. Murray Stahl serves as Chairman, Chief Executive Officer, and Chief Investment Officer of Horizon Kinetics Asset Management LLC ("HKAM"), which manages funds and accounts (the "Managed Accounts") that hold securities of the Issuer. Mr. Stahl does not exercise investment discretion with respect to the securities of the Issuer that are beneficially owned by the Managed Accounts. Mr. 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 the Mr. Stahl is the beneficial owner of such securities for purposes of Section 16 or any other purpose. |
| 2. Includes 5,000 shares of Series B Preferred Stock that have been converted into Common Stock on a one-for-one basis upon the closing of the Company's initial public offering and which have no expiration date and 14,998 shares of Non-Voting Common Stock that have been converted into shares of Common Stock on a one-for-one basis upon the closing of the Company's IPO and which have no expiration date. |
| 3. The Options given to Mr. Stahl are fully vested. |
| 4. The Warrants are currently vested and presently exercisable until the expiration date show. |
| /s/ Jay Kesslen, attorney-in-fact | 09/30/2025 | |
| ** 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). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||