MSTR director sells shares and exercises options
Strategy Inc director Jarrod M. Patten reported mixed activity in Class A Common Stock.
Accepted by SEC EDGAR
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Sentiment and the balance of points
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Form Type
4
Rhea-AI Filing Summary
Strategy Inc director Jarrod M. Patten reported mixed activity in Class A Common Stock. He sold a total of 3,750 shares in open-market transactions on May 8 and May 11, 2026 at prices between $186.685 and $196.00 per share. He also exercised stock options covering 3,750 shares at a conversion price of $18.654 per share, turning option awards into common stock. After these transactions, he directly holds 28,000 shares of Class A Common Stock. Footnotes indicate additional vested option awards remain outstanding under director stock option grants.
Insider Trade Summary
Exercise and Sale: 3,750 shares ($644K approx. pre-tax spread)
Exercise and Sale
10 txns
Insider
Patten Jarrod M
Role
Director
Sold
3,750 shs ($714K)
Approx. gross sale proceeds
$714K
Approx. exercise cost
$70K
Approx. pre-tax spread
$644K
Share of Position Sold
11.8%
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Director Stock Option (Right to buy) | 2,750 | $0.00 | $0.00 |
| Exercise | Class A Common Stock | 2,750 | $18.654 | $51K |
| Sale | Class A Common Stock | 500 | $189.38 | $95K |
| Sale | Class A Common Stock | 500 | $190.00 | $95K |
| Sale | Class A Common Stock | 500 | $194.00 | $97K |
| Sale | Class A Common Stock | 500 | $196.00 | $98K |
| Sale | Class A Common Stock | 750 | $189.595 | $142K |
| Exercise | Director Stock Option (Right to buy) | 1,000 | $0.00 | $0.00 |
| Exercise | Class A Common Stock | 1,000 | $18.654 | $19K |
| Sale | Class A Common Stock | 1,000 | $186.685 | $187K |
| 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) — 26,050 options (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)
Holdings Before and After:
Director Stock Option (Right to buy), 29,800 to 26,050 options (Direct);
Class A Common Stock, 28,000 to 28,000 shares (Direct)
Footnotes (2)
- F1. The 1,000 shares exercised on May 8, 2026 pursuant to this option vested on May 31, 2018. Of the remaining 28,800 shares subject to this option, 3,800 shares vested on May 31, 2018, 12,500 shares vested on May 31, 2019, and 12,500 shares vested on May 31, 2020.
- F2. The 2,750 shares exercised on May 8, 2026 pursuant to this option vested on May 31, 2018. Of the remaining 26,050 shares subject to this option, 1,050 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: 3,750 shares
Sale price range: $186.685–$196.00 per share
Options exercised: 3,750 shares
+3 more
6 metrics
Shares sold
3,750 shares
Open-market sales on May 8 and 11, 2026
Sale price range
$186.685–$196.00 per share
Class A Common Stock sales
Options exercised
3,750 shares
Director stock option exercises
Option exercise price
$18.654 per share
Conversion price for exercised options
Shares held after
28,000 shares
Direct Class A Common Stock ownership post-transaction
Net buy/sell shares
-3,750 shares
Net sell direction from transaction summary
Key Terms
open-market sale, derivative exercise/conversion, Director Stock Option (Right to buy), Class A Common Stock, +1 more
5 terms
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""
Director Stock Option (Right to buy) financial
"security_title": "Director Stock Option (Right to buy)""
Class A Common Stock financial
"security_title": "Class A Common Stock""
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
Series A Perpetual Stride Preferred Stock financial
"security_title": "Series A Perpetual Stride Preferred Stock""
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did MSTR director Jarrod Patten report?
Jarrod Patten reported both sales and option exercises. He sold 3,750 shares of Strategy Inc Class A Common Stock and exercised options for 3,750 shares, converting them at an exercise price of $18.654 per share into common stock.
What stock options did the MSTR director exercise in this filing?
The director exercised options for 3,750 shares. These director stock options were converted into Class A Common Stock at a stated conversion price of $18.654 per share, as shown in the non-derivative and derivative transaction entries.
Does the Form 4 show any remaining stock option awards for the MSTR director?
Footnotes describe remaining vested option shares. They state that tens of thousands of shares under director stock option grants vested in 2018, 2019 and 2020, indicating additional vested options remain outstanding beyond the 3,750 shares exercised in this filing.
AI-generated analysis. How Rhea-AI works. Not financial advice.
