The selling is within normal range for a company of this size and does not indicate material concern. Monitor for additional selling in next 30 days — sustained outflows would increase bearish risk.
Price Chart
Executive Summary
Two insiders at MIAX sold a combined $1.03M in shares over a 7-day window, including a $1.02M sale by EVP Shelly Brown. The CEO and other executives also surrendered shares for tax withholding totaling $1.17M, but these were non-cash transactions. The open-market selling is modest relative to MIAX's $3.6B market cap (0.03%), suggesting routine activity rather than a strong negative signal.
Key Financial Metrics
Key Facts
- EVP Shelly Brown sold $1.02M in shares (25.9K shares at $39.33) on 2026-03-23
- Director Judson Teekell sold $12K in shares (300 shares at $40.00) on 2026-03-25
- CEO Thomas Gallagher and three other executives surrendered shares for tax withholding totaling $1.17M, all non-cash events
- Total open-market selling: $1.03M (0.03% of $3.6B market cap)
- No open-market purchases detected
Financial Impact
$1.03M in open-market sales, representing 0.03% of market cap
Risk Factors
- Concentrated selling by an executive (Brown) could signal reduced confidence
- Lack of offsetting insider buying may reflect limited near-term upside conviction
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-1775076170552 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | Insider Cluster | — | awaiting T+1 | — | — |
Oct 1, 2026 25d ago | Press Release | $33.75 $33.01 | ▼ −2.19% | ▼ −2.93% | $33.98 (+0.68%) |
Sep 4, 2026 7w ago | Insider Cluster | $43.46 $42.89 | ▼ −1.31% | ▼ −0.85% | $33.98 (−21.81%) |
Sep 4, 2026 7w ago | Insider Cluster | $43.46 $42.89 | ▼ −1.31% | ▼ −0.85% | $33.98 (−21.81%) |
Aug 19, 2026 9w ago | Insider Cluster | $41.32 $42.59 | ▲ +3.07% | ▲ +2.66% | $33.98 (−17.76%) |
Aug 19, 2026 9w ago | Insider Cluster | $41.32 $42.59 | ▼ −3.07% | ▼ −2.66% | $33.98 (+17.76%) |
Aug 6, 2026 11w ago | Insider Cluster | $44.23 $43.59 | ▲ +1.45% | ▲ +1.42% | $33.98 (+23.17%) |
Jul 16, 2026 14w ago | Insider Cluster | $42.33 $42.04 | ▼ −0.69% | ▼ −0.52% | $33.98 (−19.73%) |
Jul 14, 2026 14w ago | Insider Cluster | $42.43 $42.89 | ▲ +1.08% | ▲ +1.63% | $33.98 (−19.92%) |
Jul 7, 2026 15w ago | Insider Cluster | $41.86 $42.99 | ▲ +2.70% | ▲ +1.85% | $33.98 (−18.82%) |
US Market Status
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