Asset Management
Miami International Holdings Executive Compensation (FY25)
MIAX · Executive and director compensation, fiscal 2023 to 2025
Chief executive, fiscal 2025 ◇ Thomas Gallagher | Latest say-on-pay support = June 16, 2026 |
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The paid brief on Miami International Holdings
Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
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Data as of October 25, 2026Latest filing (8-K): June 18, 2026
2 filings cited on this page
Method: intel.velarion.ai/methodology
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190 figures on this page: 189 cited to the filing that reported them, 1 calculated from figures it prints. See the citations
More on Miami International Holdings
Five data products on this company. Each one is requested through the developer setup page.
- Peer Disclosure Audit$5The comparison companies this board named, each one tied to the filing that lists it.How to get Peer Disclosure Audit
- Governance Provisions PullfreeThe governance provisions as the proxy states them: board leadership, committee membership, and shareholder rights.How to get Governance Provisions Pull
- Say-on-Pay Risk Signal$9A risk band for the next say-on-pay vote, with the support history and the peer comparison behind it.How to get Say-on-Pay Risk Signal
- NEO Comp Report$24Every named executive officer’s pay by element and year, with the citation behind each figure.How to get NEO Comp Report
- Board Comp Report$24What each non-employee director was paid, the standing fee schedule, and the equity each one holds at year end.How to get Board Comp Report
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Thomas Gallagher: $10,395,918 → $21,187,093 (103.8% higher)
Frequently asked questions
Answers drawn from the data on this page.
Who is Miami International Holdings' chief executive and what were they paid?
Total compensation for Thomas Gallagher, Chairman & Chief Executive Officer, came to $21,187,093 in fiscal 2025. Compared with the $10,395,918 reported for fiscal 2024, Gallagher's total was 103.8% higher.
What was Miami International Holdings' say-on-pay result?
Shareholders supported the say-on-pay proposal with 73.9% of votes cast for or against in favor at the meeting held June 16, 2026 for fiscal 2025.
Which companies are in Miami International Holdings' peer group?
The disclosed peer group names Cboe, CME Group Inc, ICE and Nasdaq.
Executive compensation
Every element reported for each named executive officer, by fiscal year.
Fiscal 2023
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Thomas Gallagher Chairman and Chief Executive Officer | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
Barbara Comly Executive Vice President, General Counsel and Corporate Secretary | ◇ | ◇ | ◇ | ◇ | — | — | ◇ | ◇ |
Douglas Schafer Jr. Executive Vice President and Chief Information Officer | ◇ | ◇ | — | ◇ | — | — | ◇ | ◇ |
Fiscal 2024
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Thomas Gallagher Chairman and Chief Executive Officer | ◇ | ◇ | — | — | — | — | ◇ | ◇ |
Douglas Schafer Jr. Executive Vice President and Chief Information Officer | ◇ | ◇ | ◇ | ◇ | — | — | ◇ | ◇ |
Shelly Brown Executive Vice President, Chief Strategy Officer | ◇ | ◇ | ◇ | ◇ | — | — | ◇ | ◇ |
Barbara Comly Executive Vice President, General Counsel and Corporate Secretary | ◇ | ◇ | — | ◇ | — | — | ◇ | ◇ |
Fiscal 2025
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Thomas Gallagher Chairman & Chief Executive Officer | ◇ | ◇ | ◇ | ◇ | — | — | ◇ | ◇ |
Barbara Comly Executive Vice President, General Counsel and Corporate Secretary | ◇ | ◇ | ◇ | ◇ | — | — | ◇ | ◇ |
Douglas Schafer Jr. Executive Vice President and Chief Information Officer | ◇ | ◇ | — | ◇ | — | — | ◇ | ◇ |
Lance Emmons Executive Vice President, Chief Financial Officer | ◇ | ◇ | — | ◇ | — | — | ◇ | ◇ |
Shelly Brown Executive Vice President, Chief Strategy Officer | ◇ | ◇ | — | ◇ | — | — | ◇ | ◇ |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.
Equity awards granted
Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
| Officer | Award | Grant date | Threshold units | Target units | Units granted | Maximum units | Exercise price | Grant date fair value |
|---|---|---|---|---|---|---|---|---|
| Barbara J. Comly | OPTION | ◇ | — | — | ◇ | — | ◇ | ◇ |
| Barbara J. Comly | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Douglas M. Schafer Jr. | OPTION | ◇ | — | — | ◇ | — | ◇ | ◇ |
| Lance Emmons | OPTION | ◇ | — | — | ◇ | — | ◇ | ◇ |
| Shelly Brown | OPTION | ◇ | — | — | ◇ | — | ◇ | ◇ |
| Thomas P. Gallagher | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Thomas P. Gallagher | OPTION | ◇ | — | — | ◇ | — | ◇ | ◇ |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.
Outstanding awards
Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
| Officer | Award | Unvested units | Market value of unvested units | Exercise price | Expires |
|---|---|---|---|---|---|
| Thomas Gallagher | RSU | ◇ | ◇ | — | — |
| Option | ◇ | — | ◇ | 6/15/2035 | |
| Douglas Schafer Jr. | RSU | ◇ | ◇ | — | — |
| Option | ◇ | — | ◇ | 6/15/2035 | |
| Option | ◇ | — | ◇ | 3/28/2033 | |
| Barbara Comly | RSU | ◇ | ◇ | — | — |
| Option | ◇ | — | ◇ | 6/15/2035 | |
| Option | ◇ | — | ◇ | 6/9/2034 | |
| Option | ◇ | — | ◇ | 3/28/2033 | |
| Shelly Brown | RSU | ◇ | ◇ | — | — |
| Option | ◇ | — | ◇ | 6/15/2035 | |
| Option | ◇ | — | ◇ | 2/15/2034 | |
| Option | ◇ | — | ◇ | 3/28/2033 | |
| Lance Emmons | Option | ◇ | — | ◇ | 6/9/2034 |
| Option | ◇ | — | ◇ | 6/15/2035 | |
| Option | ◇ | — | ◇ | 3/28/2033 | |
| RSU | ◇ | ◇ | — | — |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Director compensation
What each non-employee director was paid.
Fiscal 2025
| Director | Fees earned in cash | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|
Robert D. Prunetti | ◇ | — | ◇ | — | — | ◇ | ◇ |
Kurt M. Eckert | ◇ | — | ◇ | — | — | — | ◇ |
Cynthia Schwarzkopf | ◇ | — | ◇ | — | — | — | ◇ |
Kenneth W. Lozier | ◇ | — | ◇ | — | — | — | ◇ |
Michael P. Ameen | ◇ | — | — | — | — | ◇ | ◇ |
Lisa Moore | ◇ | — | ◇ | — | — | — | ◇ |
David Brown | ◇ | — | ◇ | — | — | — | ◇ |
J. Gray Teekell | ◇ | — | — | — | — | — | ◇ |
Thomas J. Kelly Jr | ◇ | — | — | — | — | ◇ | ◇ |
Albert M. Barro Jr | ◇ | — | — | — | — | ◇ | ◇ |
William W. Hopkins | ◇ | — | — | — | — | ◇ | ◇ |
Abdulwahab Ahmad Al-Nakib | — | — | — | — | — | ◇ | ◇ |
Ricardo Blach | — | — | — | — | — | ◇ | ◇ |
Khaled Magdy El-Marsafy | — | — | — | — | — | ◇ | ◇ |
Christopher D. Brady | — | — | — | — | — | ◇ | ◇ |
Jassem Hassan Zainal | — | — | — | — | — | ◇ | ◇ |
Barry J. Belmont | — | — | — | — | — | ◇ | ◇ |
Paul V. Stahlin | ◇ | — | — | — | — | — | ◇ |
William J. O'Brien III | — | — | — | — | — | ◇ | ◇ |
Mark F. Raymond | ◇ | — | — | — | — | — | ◇ |
Jamil Nazarali | ◇ | — | — | — | — | — | ◇ |
Jill E. Sommers, Thomas P. Gallagher, Mark I. Massad, John Beckelman, Talal Jassim Al-Bahar and Eric Sites served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Director fee schedule
The standing retainers and premiums the board pays, as published.
| Board cash retainer | ◇ |
| Total board retainer | ◇ |
| Board chair premium | ◇ |
| Audit committee chair | ◇ |
| Audit committee member | ◇ |
| Compensation committee chair | ◇ |
| Compensation committee member | ◇ |
| Nominating and governance chair | ◇ |
| Nominating and governance member | ◇ |
Disclosed peer group
The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
- Cboe CBOE
- CME Group Inc CME
- ICE ICE
- Nasdaq NDAQ
Say-on-pay history
Shareholder support for the compensation program, by year.
| Year | Meeting | Support | Votes for | Votes against | Abstentions |
|---|---|---|---|---|---|
| 2025 | June 16, 2026 | = | ◇ | ◇ | ◇ |
Ask our research desk — $99, 24h, every figure cited to its filing.
Sample answer — “What is the CEO’s total compensation?”
- Thomas Gallagher (Chairman & Chief Executive Officer), FY2025 total compensation $21,187,093 (base salary $2,500,000) [exec_comp, SEC accession 0001628280-26-027312, filed 2026-04-27]What this page does not include
Everything above is a fact Miami International Holdings disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Miami International Holdings sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $499Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion IntelligenceAdviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Velarion IntelligenceCitations
Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
190 figures on this page: 189 cited to the filing that reported them, 1 calculated from figures it prints.
189 cited to the filing
1 calculated from the filing
Documents cited
- 0001438472-26-000032Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001628280-26-027312DIRECTOR COMPENSATION
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This page is free to cite. Attribution we ask for:
Velarion, “Miami International Holdings executive compensation, FY2023–FY2025.” https://intel.velarion.ai/comp/MIAX (accessed 2026).
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The paid brief for Miami International Holdings
Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $499 for the board report; $2,400 for both.
2 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
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Asset Management rankings
Peers Miami International Holdings discloses
The companies named in MIAX's own disclosed peer group.
Terms on this page
Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
author = {{Velarion Company Intelligence}},
title = {Velarion database: executive and board compensation data},
year = {2026},
version = {2026Q3},
doi = {10.5281/zenodo.22283854},
publisher = {Zenodo},
url = {https://doi.org/10.5281/zenodo.22283854}
}