MSTR director reports preferred stock buys at $97.946 and $96.875

Rhea-AI Filing Summary

Strategy Inc (MSTR) director reported open‑market purchases. On 10/16/2025, the reporting person purchased 11,780 shares of Series A Perpetual Stretch Preferred Stock at $97.946. On 10/17/2025, they purchased 12,000 shares of the same series at a weighted average price of $96.875.

Following these transactions, the director beneficially owned 29,335 shares of the Series A Perpetual Stretch Preferred Stock directly. Additional direct holdings reported include 10,000 shares of Series A Perpetual Strife Preferred Stock, 5,000 shares of Series A Perpetual Stride Preferred Stock, and 28,000 shares of Class A Common Stock.

The price on 10/17/2025 reflects multiple trades within a $96.86–$96.90 range, with full trade‑by‑trade details available upon request.

Insider Trade Summary

Net Buyer: 23,780 shares ($2,316,304)

Net Buy 5 txns

Insider Patten Jarrod M

Role Director

Bought 23,780 shs ($2.32M)

Type	Security	Shares	Price	Value
Purchase	Series A Perpetual Stretch Preferred Stock	12,000	$96.875	$1.16M
Purchase	Series A Perpetual Stretch Preferred Stock	11,780	$97.946	$1.15M
holding	Series A Perpetual Strife Preferred Stock	--	--	--
holding	Series A Perpetual Stride Preferred Stock	--	--	--
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Series A Perpetual Stretch Preferred Stock — 29,335 shares (Direct); Series A Perpetual Strife Preferred Stock — 10,000 shares (Direct); Series A Perpetual Stride Preferred Stock — 5,000 shares (Direct); Class A Common Stock — 28,000 shares (Direct)

Footnotes (1)

1. [object Object]

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Patten Jarrod M

(Last) (First) (Middle)

C/O STRATEGY INC

1850 TOWERS CRESCENT PLAZA

(Street)

TYSONS CORNER VA 22182

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Strategy Inc [ MSTR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/16/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Series A Perpetual Stretch Preferred Stock	10/16/2025		P		11,780	A	$97.946	17,335	D
Series A Perpetual Stretch Preferred Stock	10/17/2025		P		12,000	A	$96.875(1)	29,335	D
Series A Perpetual Strife Preferred Stock								10,000	D
Series A Perpetual Stride Preferred Stock								5,000	D
Class A Common Stock								28,000	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $96.86 to $96.90, inclusive. The reporting person undertakes to provide to Strategy Inc ("Strategy"), any security holder of Strategy, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the ranges set forth in this footnote.

	/s/ Allein Sabel, Attorney-in-fact	10/20/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.