Strategy director Jarrod M. Patten sells 4,750 shares

The 16,400 shares remaining under the option included 3,900 vested on May 31, 2020, and 12,500 vested on May 31, 2021.

Available on EDGAR 11/06/2026 - 04:03 PM EST Accepted by SEC EDGAR 11/06/2026 - 04:03 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Strategy Inc (MSTR) director Jarrod M. Patten exercised options for 4,750 shares of Class A common stock on November 4, 2026, at an exercise price of $18.236 per share. He sold 4,750 shares in five transactions of 950 shares each, at $143, $145, $137, $139, and $141 per share. After the exercise, 16,400 shares remained under the option, which expires May 31, 2027. No Rule 10b5-1 plan is reported.

Insider Trade Summary

Exercise and Sale: 4,750 shares ($583K approx. pre-tax spread)

Exercise and Sale 7 txns

Insider Patten Jarrod M

Role Director

Sold 4,750 shs ($670K)

Approx. gross sale proceeds $670K

Approx. exercise cost $87K

Approx. pre-tax spread $583K

Share of Position Sold 14.3%

Type	Security	Shares	Price	Value
Exercise	Director Stock Option (Right to buy) F1	4,750	$0.00	$0.00
Exercise	Class A Common Stock	4,750	$18.236	$87K
Sale	Class A Common Stock	950	$143.00	$136K
Sale	Class A Common Stock	950	$145.00	$138K
Sale	Class A Common Stock	950	$137.00	$130K
Sale	Class A Common Stock	950	$139.00	$132K
Sale	Class A Common Stock	950	$141.00	$134K
Holding	Series A Perpetual Strife Preferred Stock	--	--	--
Holding	Series A Perpetual Stretch Preferred Stock	--	--	--
Holding	Series A Perpetual Stride Preferred Stock	--	--	--

Holdings After Transaction: Director Stock Option (Right to buy) — 16,400 contracts (Direct); Class A Common Stock — 28,406 shares (Direct); Series A Perpetual Strife Preferred Stock — 10,000 shares (Direct); Series A Perpetual Stretch Preferred Stock — 29,335 shares (Direct); Series A Perpetual Stride Preferred Stock — 5,000 shares (Direct)

Holdings Before and After: Director Stock Option (Right to buy), 21,150 to 16,400 contracts (Direct); Class A Common Stock, 28,406 to 28,406 shares (Direct)

Footnotes (1)

1. F1. The 4,750 shares exercised on November 4, 2026 pursuant to this option vested on May 31, 2020. Of the remaining 16,400 shares pursuant to this option, 3,900 vested on May 31, 2020, and 12,500 shares vested on May 31, 2021.

Key Figures

Options exercised: 4,750 shares Exercise price: $18.236 per share Shares sold: 4,750 shares +2 more

5 metrics

Options exercised 4,750 shares November 4, 2026

Exercise price $18.236 per share Options exercised November 4, 2026

Shares sold 4,750 shares November 4, 2026

Sale transaction size 950 shares Each of five reported sales on November 4, 2026

Option shares remaining 16,400 shares After the November 4, 2026 exercise

Key Terms

Director Stock Option, exercise price, vested

3 terms

Director Stock Option financial

"Director Stock Option (Right to buy)"

exercise price financial

"conversion or exercise price"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

vested financial

"3,900 shares vested on May 31, 2020"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many MSTR shares did director Jarrod M. Patten sell?

Jarrod M. Patten sold 4,750 shares of Strategy Inc Class A common stock on November 4, 2026, in five transactions of 950 shares each. The prices per share were $143, $145, $137, $139, and $141. No Rule 10b5-1 plan is reported.

How many MSTR options did Jarrod M. Patten exercise?

Jarrod M. Patten exercised options for 4,750 Class A common shares on November 4, 2026, at an exercise price of $18.236 per share. After the exercise, 16,400 shares remained under the option, which expires May 31, 2027.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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 VIRGINIA 22182

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
11/04/2026

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

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

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

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
Class A Common Stock	11/04/2026		M		4,750	A	$18.236	33,156	D
Class A Common Stock	11/04/2026		S		950	D	$143	32,206	D
Class A Common Stock	11/04/2026		S		950	D	$145	31,256	D
Class A Common Stock	11/04/2026		S		950	D	$137	30,306	D
Class A Common Stock	11/04/2026		S		950	D	$139	29,356	D
Class A Common Stock	11/04/2026		S		950	D	$141	28,406	D
Series A Perpetual Strife Preferred Stock								10,000	D
Series A Perpetual Stretch Preferred Stock								29,335	D
Series A Perpetual Stride 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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Director Stock Option (Right to buy)	$18.236	11/04/2026		M			4,750	(1)	05/31/2027	Class A Common Stock	4,750	$0	16,400	D

Explanation of Responses:

1. The 4,750 shares exercised on November 4, 2026 pursuant to this option vested on May 31, 2020. Of the remaining 16,400 shares pursuant to this option, 3,900 vested on May 31, 2020, and 12,500 shares vested on May 31, 2021.

	/s/ Allein Sabel, Attorney-in-Fact	11/06/2026
	** 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.
* Form 4: SEC 1474 (03-26)