Strategy Inc director sells 2,000 shares after options

Director Jarrod M. Patten of Strategy Inc exercised stock options for a total of 2,000 shares of Class A Common Stock at an exercise price of $18.654 per share and sold 2,000 shares in open-market transactions at prices between $165.42 and $172.00 per share.

Rhea-AI Filing Summary

Director Jarrod M. Patten of Strategy Inc exercised stock options for a total of 2,000 shares of Class A Common Stock at an exercise price of $18.654 per share and sold 2,000 shares in open-market transactions at prices between $165.42 and $172.00 per share. After these transactions, he directly holds 28,000 shares of Class A Common Stock. Footnotes indicate that a director stock option with an exercise price of $18.654 remains outstanding for 37,800 shares following the latest exercise.

Insider Trade Summary

Exercise and Sale: 2,000 shares ($299K approx. pre-tax spread)

Exercise and Sale 12 txns

Insider Patten Jarrod M

Role Director

Sold 2,000 shs ($336K)

Approx. gross sale proceeds $336K

Approx. exercise cost $37K

Approx. pre-tax spread $299K

Type	Security	Shares	Price	Value
Exercise	Director Stock Option (Right to buy)	500	$0.00	$0.00
Exercise	Class A Common Stock	500	$18.654	$9K
Sale	Class A Common Stock	500	$172.00	$86K
Exercise	Director Stock Option (Right to buy)	1,000	$0.00	$0.00
Exercise	Director Stock Option (Right to buy)	500	$0.00	$0.00
Exercise	Class A Common Stock	1,000	$18.654	$19K
Sale	Class A Common Stock	1,000	$165.42	$165K
Exercise	Class A Common Stock	500	$18.654	$9K
Sale	Class A Common Stock	500	$170.00	$85K
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) — 37,800 contracts (Direct); Class A Common Stock — 28,000 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)

Footnotes (3)

1. F1. The 1000 shares exercised on April 20, 2026 pursuant to this option vested on May 31, 2017. Of the remaining 38,800 shares subject to this option, 1,300 shares vested on May 31, 2017, 12,500 shares vested on May 31, 2018, 12,500 shares vested on May 31, 2019, and 12,500 shares vested on May 31, 2020.
2. F2. The 500 shares exercised on April 20, 2026 pursuant to this option vested on May 31, 2017. Of the remaining 38,300 shares subject to this option, 800 shares vested on May 31, 2017, 12,500 shares vested on May 31, 2018, 12,500 shares vested on May 31, 2019, and 12,500 shares vested on May 31, 2020.
3. F3. The 500 shares exercised on April 21, 2026 pursuant to this option vested on May 31, 2017. Of the remaining 37,800 shares subject to this option, 300 shares vested on May 31, 2017, 12,500 shares vested on May 31, 2018, 12,500 shares vested on May 31, 2019, and 12,500 shares vested on May 31, 2020.

Key Figures

Shares sold: 2,000 shares Sale prices: $170.00, $165.42, $172.00/share Option exercise price: $18.654/share +5 more

8 metrics

Shares sold 2,000 shares Open-market sales of Class A Common Stock

Sale prices $170.00, $165.42, $172.00/share Open-market sales on April 20–21, 2026

Option exercise price $18.654/share Director stock option for Class A Common Stock

Shares exercised 2,000 shares Class A Common Stock acquired via option exercises

Common shares held 28,000 shares Class A Common Stock directly owned after transactions

Remaining option shares 37,800 shares Shares still subject to director stock option at $18.654

Stride preferred shares 5,000 shares Series A Perpetual Stride Preferred Stock holding

Stretch preferred shares 29,335 shares Series A Perpetual Stretch Preferred Stock holding

Key Terms

Director Stock Option (Right to buy), open-market sale, derivative exercise/conversion, Series A Perpetual Stride Preferred Stock, +2 more

6 terms

Director Stock Option (Right to buy) financial

""security_title": "Director Stock Option (Right to buy)""

open-market sale financial

""transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

derivative exercise/conversion financial

""transaction_action": "derivative exercise/conversion""

Series A Perpetual Stride Preferred Stock financial

""security_title": "Series A Perpetual Stride Preferred Stock""

Series A Perpetual Stretch Preferred Stock financial

""security_title": "Series A Perpetual Stretch Preferred Stock""

Series A Perpetual Strife Preferred Stock financial

""security_title": "Series A Perpetual Strife Preferred Stock""

FAQ

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

What did Strategy Inc (MSTR) director Jarrod Patten report in this Form 4?

Director Jarrod M. Patten reported exercising options for 2,000 shares of Class A Common Stock at $18.654 per share and selling 2,000 shares in open-market transactions at prices between $165.42 and $172.00 per share.

How many Strategy Inc (MSTR) shares did the director sell and at what prices?

Jarrod Patten sold a total of 2,000 shares of Strategy Inc Class A Common Stock. The reported sale prices were $170.00, $165.42, and $172.00 per share in open-market transactions on April 20–21, 2026.

What stock options did the Strategy Inc director exercise in this filing?

He exercised director stock options covering 2,000 shares of Class A Common Stock at an exercise price of $18.654 per share. Footnotes state that, after these exercises, 37,800 shares remain subject to this option with the same $18.654 exercise price.

How many Strategy Inc (MSTR) shares does Jarrod Patten hold after these transactions?

Following the reported exercises and sales, Jarrod Patten directly holds 28,000 shares of Strategy Inc Class A Common Stock. The Form 4 also lists separate direct holdings of several Series A perpetual preferred stock classes with disclosed share counts.

What preferred stock holdings are disclosed for the Strategy Inc director?

The filing lists direct holdings of 5,000 shares of Series A Perpetual Stride Preferred Stock, 29,335 shares of Series A Perpetual Stretch Preferred Stock, and 10,000 shares of Series A Perpetual Strife Preferred Stock as of April 20, 2026.

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

Form 4 Insider Transactions: What Each Field Means →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Accepted by SEC EDGAR 04/22/2026 - 04:07 PM Learn about SEC filing dates

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)
04/20/2026

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	04/20/2026		M		1,000	A	$18.654	29,000	D
Class A Common Stock	04/20/2026		S		1,000	D	$165.42	28,000	D
Class A Common Stock	04/20/2026		M		500	A	$18.654	28,500	D
Class A Common Stock	04/20/2026		S		500	D	$170	28,000	D
Class A Common Stock	04/21/2026		M		500	A	$18.654	28,500	D
Class A Common Stock	04/21/2026		S		500	D	$172	28,000	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)	$18.654	04/20/2026		M			1,000	(1)	05/31/2026	Class A Common Stock	1,000	$0	38,800	D
Director Stock Option (Right to buy)	$18.654	04/20/2026		M			500	(2)	05/31/2026	Class A Common Stock	500	$0	38,300	D
Director Stock Option (Right to buy)	$18.654	04/21/2026		M			500	(3)	05/31/2026	Class A Common Stock	500	$0	37,800	D

Explanation of Responses:

1. The 1000 shares exercised on April 20, 2026 pursuant to this option vested on May 31, 2017. Of the remaining 38,800 shares subject to this option, 1,300 shares vested on May 31, 2017, 12,500 shares vested on May 31, 2018, 12,500 shares vested on May 31, 2019, and 12,500 shares vested on May 31, 2020.

2. The 500 shares exercised on April 20, 2026 pursuant to this option vested on May 31, 2017. Of the remaining 38,300 shares subject to this option, 800 shares vested on May 31, 2017, 12,500 shares vested on May 31, 2018, 12,500 shares vested on May 31, 2019, and 12,500 shares vested on May 31, 2020.

3. The 500 shares exercised on April 21, 2026 pursuant to this option vested on May 31, 2017. Of the remaining 37,800 shares subject to this option, 300 shares vested on May 31, 2017, 12,500 shares vested on May 31, 2018, 12,500 shares vested on May 31, 2019, and 12,500 shares vested on May 31, 2020.

	/s/ Allein Sabel, Attorney-in-Fact	04/22/2026
	** 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)