Murray Stahl - Aug 13, 2025 Form 3 Insider Report for MIAMI INTERNATIONAL HOLDINGS, INC. (MIAX)

Role
Director
Signature
/s/ Jay Kesslen, attorney-in-fact
Stock symbol
MIAX
Transactions as of
Aug 13, 2025
Transactions value $
$0
Form type
3
Date filed
8/13/2025, 05:18 PM
Previous filing
Aug 13, 2025
Next filing
Aug 15, 2025

Reporting Owners (2)

Name Relationship Address Signature Signature date CIK
STAHL MURRAY Director 470 PARK AVE S, 8TH FLOOR SOUTH, NEW YORK /s/ Jay Kesslen, attorney-in-fact 2025-08-13 0001207097
HORIZON KINETICS ASSET MANAGEMENT LLC 10%+ Owner 470 PARK AVE S, 8TH FLOOR SOUTH, NEW YORK /s/ Jay Kesslen, attorney-in-fact 2025-08-13 0001056823

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding MIAX Common Stock 4.2M Aug 13, 2025 Horizon Kinetics Asset Management LLC F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding MIAX OPTIONS Aug 13, 2025 Miami International Holdings Inc 2.5K $16.14 Direct F3
holding MIAX OPTIONS Aug 13, 2025 Miami International Holdings Inc 7.5K $16.14 Direct F3
holding MIAX OPTIONS Aug 13, 2025 Miami International Holdings Inc 10K $25.98 Direct F3
holding MIAX OPTIONS Aug 13, 2025 Miami International Holdings Inc 14.3K $19.84 Direct F3
holding MIAX Warrants Aug 13, 2025 Miami International Holdings Inc 24.9K $20.50 Horizon Kinetics Asset Management LLC F1, F4
holding MIAX Warrants Aug 13, 2025 Miami International Holdings Inc 27.6K $20.50 Horizon Kinetics Asset Management LLC F1, F4
holding MIAX Warrants Aug 13, 2025 Miami International Holdings Inc 21.3K $15.00 Horizon Kinetics Asset Management LLC F1, F4
holding MIAX Warrants Aug 13, 2025 Miami International Holdings Inc 38.9K $20.50 Horizon Kinetics Asset Management LLC F1, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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.
F2 Of the 4,196,752 shares owned; 5,000 shares are Series B, and 15,000 shares are Restricted and Exercised Non-Voting. The shares of Series B Preferred Stock are convertible on a one-for-one basis into shares of common stock commencing on the Company's initial public offering of its common stock ("IPO") effective date, which is August 13, 2025. The Series B Preferred Stock has no expiration date. The Restricted and Exercised Non-Voting shares are convertible on a one-for-one basis into shares of common stock commencing at any time. The Non-Voting common stock has no expiration date
F3 The options given to Mr. Stahl are fully vested. The options were granted initially as the right to buy nonvoting common stock. On the closing date of the Company's IPO of its common stock, these will convert to the right to buy common stock instead of nonvoting common stock.
F4 The warrants are currently vested and presently exercisable until the expiration date shown.