Strategy Inc. insider reports RSU vesting and small tax sale

Q: What insider transaction did MSTR report in this Form 4?

The VP & CAO of Strategy Inc. (MSTR) reported the settlement of 100 restricted stock units into Class A common shares on 11/17/2025 and a related sale of shares on 11/18/2025 .

Q: How many MSTR shares did the officer sell and at what price?

The officer sold 43 shares of MSTR Class A common stock at a price of $208.548 per share on 11/18/2025 .

Q: Why were MSTR shares sold in this Form 4 filing?

The filing states the 43-share sale was effected under a Rule 10b5-1 instruction letter to pay the tax withholding obligation arising from the vesting and settlement of previously granted restricted stock units.

Q: What are the terms of the restricted stock units reported for MSTR?

Each restricted stock unit represented a contingent right to receive one share of MSTR Class A common stock and the 100 units vested in full on November 15, 2025 before being settled into shares on November 17, 2025.

Q: Does this MSTR Form 4 mention purchases under an employee stock purchase plan?

Yes. The reported Class A share balance includes 70 shares acquired under the Strategy Employee Stock Purchase Plan on August 29, 2025.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Strategy Inc. (MSTR) VP & CAO Form 4 insider activity reports the vesting and settlement of equity awards and a small share sale tied to taxes. On 11/17/2025, 100 restricted stock units converted into 100 shares of Class A common stock, all previously granted awards that vested in full on November 15, 2025. On 11/18/2025, the officer sold 43 Class A shares at $208.548 under a Rule 10b5-1 instruction letter to satisfy tax withholding obligations linked to the vesting. After these transactions, the reporting person beneficially owns 8,733 Class A shares and 5,000 shares of Series A Perpetual Stretch Preferred Stock. Each restricted stock unit had represented a contingent right to receive one share of Class A common stock.

Insider Trade Summary

Net Seller: 43 shares ($8,968)

Net Sell 4 txns

Insider Montgomery Jeanine

Role VP & CAO

Sold 43 shs ($9K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	43	$208.548	$9K
Exercise	Restricted Stock Units	100	$0.00	--
Exercise	Class A Common Stock	100	$0.00	--
holding	Series A Perpetual Stretch Preferred Stock	--	--	--

Holdings After Transaction: Class A Common Stock — 8,733 shares (Direct); Restricted Stock Units — 0 shares (Direct); Series A Perpetual Stretch Preferred Stock — 5,000 shares (Direct)

Footnotes (1)

Each restricted stock unit represents a contingent right to receive one share of class A common stock of Strategy Inc ("Strategy"). Includes 70 shares acquired under the Strategy Employee Stock Purchase Plan on August 29, 2025. The sale was effected pursuant to a Rule 10b5-1 instruction letter entered into on May 3, 2024 to satisfy the Reporting Person's tax withholding obligation upon the vesting of previously granted equity awards. The disposition of the shares reported on this form was made solely to permit the stockholder to pay Strategy the tax withholding obligation due upon vesting of the restricted stock units on November 15, 2025 and settlement of such restricted stock units on November 17, 2025. The 100 restricted stock units vested in full on November 15, 2025.

Form 4 Insider Transactions: What Each Field Means →

11/19/2025 - 04:55 PM

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^*

Montgomery Jeanine

(Last)

(First)

(Middle)

C/O STRATEGY INC

1850 TOWERS CRESCENT PLAZA

(Street)

TYSONS CORNER

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)

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

3. Date of Earliest Transaction (Month/Day/Year)
11/17/2025

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	11/17/2025		M		100	A	⁽¹⁾	8,776⁽²⁾	D
Class A Common Stock	11/18/2025		S⁽³⁾		43⁽⁴⁾	D	$208.548	8,733	D
Series A Perpetual Stretch Preferred Stock								5,000	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	⁽¹⁾	11/17/2025		M			100	⁽⁵⁾	⁽⁵⁾	Class A Common Stock	100	$0	0	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of class A common stock of Strategy Inc ("Strategy").

2. Includes 70 shares acquired under the Strategy Employee Stock Purchase Plan on August 29, 2025.

3. The sale was effected pursuant to a Rule 10b5-1 instruction letter entered into on May 3, 2024 to satisfy the Reporting Person's tax withholding obligation upon the vesting of previously granted equity awards.

4. The disposition of the shares reported on this form was made solely to permit the stockholder to pay Strategy the tax withholding obligation due upon vesting of the restricted stock units on November 15, 2025 and settlement of such restricted stock units on November 17, 2025.

5. The 100 restricted stock units vested in full on November 15, 2025.

	/s/ Allein Sabel, Attorney-in-Fact	11/19/2025
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did MSTR report in this Form 4?

The VP & CAO of Strategy Inc. (MSTR) reported the settlement of 100 restricted stock units into Class A common shares on 11/17/2025 and a related sale of shares on 11/18/2025.

How many MSTR shares did the officer sell and at what price?

The officer sold 43 shares of MSTR Class A common stock at a price of $208.548 per share on 11/18/2025.

Why were MSTR shares sold in this Form 4 filing?

The filing states the 43-share sale was effected under a Rule 10b5-1 instruction letter to pay the tax withholding obligation arising from the vesting and settlement of previously granted restricted stock units.

How many MSTR shares does the VP & CAO own after these transactions?

Following the reported transactions, the officer beneficially owns 8,733 shares of Class A common stock and 5,000 shares of Series A Perpetual Stretch Preferred Stock, held directly.

What are the terms of the restricted stock units reported for MSTR?

Each restricted stock unit represented a contingent right to receive one share of MSTR Class A common stock and the 100 units vested in full on November 15, 2025 before being settled into shares on November 17, 2025.

Does this MSTR Form 4 mention purchases under an employee stock purchase plan?

Yes. The reported Class A share balance includes 70 shares acquired under the Strategy Employee Stock Purchase Plan on August 29, 2025.