Shelly Brown

EVP Shelly Brown sells 16,000 MIAX shares at $42.12 under pre-arranged 10b5-1 plan; retains 325,047 shares plus 16,000 stock options.

Shelly Brown, Chief Strategy Officer, sold 16,000 shares ($673.9K total value) on 2026-06-02 pursuant to a 10b5-1 trading plan adopted 2025-12-22, making this a scheduled, non-discretionary transaction. Her common equity holdings decline from 341.0K to 325.0K shares (-4.7%), but she retains substantial equity exposure through 325.0K shares and 16,000 nonqualified stock options. At the same ticker, her three prior open-market sells posted mixed 30-day results (+23.6%, +15.1%, -14.7%) and negative or muted 90-day outcomes, with the most recent sell (2026-05-04) showing -14.7% over both periods. MIAX posted strong fundamentals this quarter (revenue $369.7M, net income $170.2M), though the company was unprofitable on a full-year basis—creating potential tension between quarterly strength and annual-level challenges. The 10b5-1 structure removes discretionary timing from analysis; the transaction is mechanically scheduled rather than reflective of current conviction or market views.

MIAX Chief Strategy Officer sells 16K shares same day as simultaneous purchase in mixed signal transaction

Shelly Brown, the company's Chief Strategy Officer, executed an unusual paired transaction: buying 16,000 shares at a lower price while simultaneously selling an identical 16,000 share block at a significantly higher price. This same-day swap—rather than a straightforward sell or buy—suggests a tactical portfolio rebalancing move rather than conviction about the stock's direction. The proceeds of roughly $756K dwarf the $192K purchase, indicating a net reduction in her economic exposure to MIAX despite holding the CSO role. The company faces headwinds: it is unprofitable with losses deepening in recent quarters, even as revenues have grown. Brown is timing her exit as the stock has recovered sharply in recent months and trades well below its recent highs, making this an opportune window to lock in gains. While the pattern lacks the clarity of a pure insider sell-off, it reflects an executive who appears to be de-risking her position in a company that has yet to reach profitability.

EVP/Chief Strategy Officer Shelly Brown sells 16,434 shares of MIAX at $42.08; post-transaction holdings remain substantial at 325,047 shares

Shelly Brown, EVP and Chief Strategy Officer, sold 16,434 shares of MIAMI INTERNATIONAL HOLDINGS, INC. (MIAX) on 2026-04-08 at $42.08, reducing holdings by 4.8% to 325,047 shares post-transaction. The company is currently unprofitable with net income of $-102.1M against quarterly revenue of $339.8M, though full-year revenue grew 19.6% year-over-year. The stock is trading -18.9% from its 52-week high of $50.96, and this sale follows a prior sale on 2026-03-23 at the same insider. With only 1 prior open-market sale in Brown's cross-ticker track record and no prior measurable timing outcomes at this ticker, the transaction represents a routine partial position reduction by a senior executive at an unprofitable but growing company.

EVP Shelly Brown sold 25,932 shares of MIAX at $39.33 while company posts -$102.1M net income

Shelly Brown, EVP and Chief Strategy Officer, sold 25,932 shares at $39.33 on 2026-03-23, reducing her position by 8.0% from 325,129 to 299,197 shares. The timing is notable: the stock is down 22.6% from its 52-week high of $50.96 and down 16.4% over the past 90 days, while the company reported a net loss of -$102,080,000.00 against revenue of $339,778,000.00 in its latest quarter. Despite 19.6% annual revenue growth, the company remains unprofitable on a full-year basis, creating a tension between top-line momentum and bottom-line deterioration. An executive reduction of this scale during sustained unprofitability and downward price momentum warrants examination of motivations and any forward guidance changes.