The $1.41M in sales is too small to be actionable. Director Schwarzkopf's $814K sale is the largest but still <0.03% of market cap. The concurrent director grants (all $0 non-cash) on the same date suggest the sales are likely tied to vesting/blackout-window mechanics rather than informed bearish views. Monitor next earnings (2.02) for any guidance revision — no immediate trade signal from this cluster alone.
Price Chart
Executive Summary
MIAMI INTERNATIONAL HOLDINGS (MIAX) insiders executed $1.41M in open-market sales over a 7-day window, led by a director (Cynthia Schwarzkopf, $814K) and two EVPs (CISO/CRO and Chief Strategy Officer). This is a cluster of sales, not buys, at 0.04% of the $3.8B market cap — well below the 0.1% materiality threshold. The sales are likely liquidity/vesting-driven given the concurrent director grant/awards (all $0 non-cash) on the same dates.
Key Financial Metrics
Key Facts
- Total open-market sales: $1.41M (3 insiders: 1 director, 2 EVPs)
- Director Cynthia Schwarzkopf sold 19.5K shares at $41.73 for $814K
- EVP Harish Jayabalan (CISO/CRO) sold 9.8K shares at $40.04 for $392K
- EVP Shelly Brown (Chief Strategy Officer) sold 4.7K shares at $44.23 for $209K
- All 20 director grants/awards on 2026-06-16 are non-cash ($0) — no economic signal
- Sales represent 0.04% of $3.8B market cap — trivial relative to company size
Financial Impact
Total open-market sales of $1.41M represent 0.04% of market cap — routine and non-material
Risk Factors
- Insider sales are weak predictors; no bearish signal from this cluster
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-MIAX-1781730291172 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 today | SC 13G/A | $33.03 | awaiting T+1 | — | $32.53 (−1.51%) |
Oct 26, 2026 1d ago | Insider Cluster | $33.16 | awaiting T+1 | — | $32.53 (−1.90%) |
Oct 1, 2026 26d ago | Press Release | $33.75 $33.01 | ▼ −2.19% | ▼ −2.93% | $32.53 (−3.61%) |
Sep 4, 2026 7w ago | Insider Cluster | $43.46 $42.89 | ▼ −1.31% | ▼ −0.85% | $32.53 (−25.15%) |
Sep 4, 2026 7w ago | Insider Cluster | $43.46 $42.89 | ▼ −1.31% | ▼ −0.85% | $32.53 (−25.15%) |
Aug 19, 2026 9w ago | Insider Cluster | $41.32 $42.59 | ▲ +3.07% | ▲ +2.66% | $32.53 (−21.27%) |
Aug 19, 2026 9w ago | Insider Cluster | $41.32 $42.59 | ▼ −3.07% | ▼ −2.66% | $32.53 (+21.27%) |
Aug 6, 2026 11w ago | Insider Cluster | $44.23 $43.59 | ▲ +1.45% | ▲ +1.42% | $32.53 (+26.45%) |
Jul 16, 2026 14w ago | Insider Cluster | $42.33 $42.04 | ▼ −0.69% | ▼ −0.52% | $32.53 (−23.15%) |
Jul 14, 2026 15w ago | Insider Cluster | $42.43 $42.89 | ▲ +1.08% | ▲ +1.63% | $32.53 (−23.33%) |
US Market Status
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