Murray Stahl - Oct 3, 2025 Form 4 Insider Report for MIAMI INTERNATIONAL HOLDINGS, INC. (MIAX)

Role
Director
Signature
/s/ Jay Kesslen, attorney-in-fact
Stock symbol
MIAX
Transactions as of
Oct 3, 2025
Transactions value $
$84
Form type
4
Date filed
10/6/2025, 04:20 PM
Previous filing
Oct 3, 2025
Next filing
Oct 7, 2025
SEC
View on sec.gov

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 2025-10-06 0001207097
HORIZON KINETICS ASSET MANAGEMENT LLC 10%+ Owner 470 PARK AVE S, 8TH FLOOR SOUTH, NEW YORK /s/ Jay Kesslen, attorney-in-fact 2025-10-06 0001056823

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MIAX Common Stock Purchase $83.90 +2 +0% $41.97 4.56M Oct 3, 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 2.5K Oct 3, 2025 Miami International Holdings Inc 2.5K $16.14 Direct F3
holding MIAX OPTIONS 7.5K Oct 3, 2025 Miami International Holdings Inc 7.5K $16.14 Direct F3
holding MIAX OPTIONS 10K Oct 3, 2025 Miami International Holdings Inc 10K $25.98 Direct F3
holding MIAX OPTIONS 14.3K Oct 3, 2025 Miami International Holdings Inc 14.3K $19.84 Direct F3
holding MIAX Warrants 24.9K Oct 3, 2025 Miami International Holdings Inc 24.9K $20.50 Horizon Kinetics Asset Management LLC F1, F4
holding MIAX Warrants 27.6K Oct 3, 2025 Miami International Holdings Inc 27.6K $20.50 Horizon Kinetics Asset Management LLC F1, F4
holding MIAX Warrants 21.3K Oct 3, 2025 Miami International Holdings Inc 21.3K $15.00 Horizon Kinetics Asset Management LLC F1, F4
holding MIAX Warrants 38.9K Oct 3, 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 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.
F3 The Options given to Mr. Stahl are fully vested.
F4 The Warrants are currently vested and presently exercisable until the expiration date show.