MSTR Insider Shao Wei-Ming Purchases Preferred Shares; Disposes Other Holdings

Rhea-AI Filing Summary

Insider transaction summary for Strategy Inc (MSTR). Shao Wei-Ming, EVP & General Counsel, reported transactions with an earliest transaction date of 09/15/2025. He purchased 12,500 Series A Perpetual Stretch Preferred Stock at a weighted-average price of $96.916 per share (purchases occurred at prices ranging from $96.905 to $96.93). After the purchase, the filing reports beneficial ownership of 15,000 shares of that preferred series. The filing also reports dispositions of 500 Series A Perpetual Strife Preferred shares, 3,527 Series A Perpetual Stride Preferred shares, and 12,726 Class A Common Stock shares. The Form 4 was signed by an attorney-in-fact on 09/16/2025.

Positive

• Purchase of 12,500 Series A Perpetual Stretch Preferred Stock at a disclosed weighted-average price of $96.916, increasing reported beneficial ownership in that series to 15,000 shares
• Footnote disclosure clarifies the purchase price range and offers to provide detailed allocation of trades on request, improving transparency

Negative

• Dispositions reported including 500 Series A Perpetual Strife Preferred, 3,527 Series A Perpetual Stride Preferred, and 12,726 Class A Common shares, which reduce holdings in other security classes
• No context provided on total outstanding shares or percentage ownership, so materiality of the transactions cannot be assessed from this form alone

Insights

Securities Analyst

TL;DR: Insider made a modest purchase of preferred stock and reported multiple disposals; overall disclosure is routine and not clearly material.

The filing documents a 12,500-share purchase of Series A Perpetual Stretch Preferred Stock at a weighted-average price of $96.916, increasing reported beneficial ownership of that series to 15,000 shares. The filing also lists disposals of other series and Class A common shares. No amounts or percentages relative to total outstanding shares are provided, and there is no additional company financial data in the form. Based solely on the information in this Form 4, these are standard beneficial ownership updates required under Section 16 and do not by themselves indicate a material change to Strategy Inc's capital structure.

Corporate Governance Expert

TL;DR: Reporting appears compliant with Section 16 timing and disclosure; signature by attorney-in-fact is properly noted.

The Form 4 identifies the reporting person as EVP & General Counsel and shows the earliest transaction date as 09/15/2025. The explanatory footnote discloses that the reported price is a weighted average across multiple trades and offers to provide details on request, which aligns with transparency expectations. The form is dated and signed by an attorney-in-fact on 09/16/2025. There is no additional context such as schedules or aggregated ownership percentages; therefore, governance compliance appears satisfied on the face of this filing.

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

1. Name and Address of Reporting Person^*

Shao Wei-Ming

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP & General Counsel

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2025

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	09/15/2025		P		12,500	A	$96.916(1)	15,000	D
Series A Perpetual Strife Preferred Stock								500	D
Series A Perpetual Stride Preferred Stock								3,527	D
Class A Common Stock								12,726	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 $96.905 to $96.93, 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 purchased at each price within the ranges set forth in this footnote.

	/s/ Allein Sabel, Attorney-in-Fact	09/16/2025
	** 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.

FAQ

What insider transactions did Shao Wei-Ming report for Strategy Inc (MSTR)?

He reported a purchase of 12,500 Series A Perpetual Stretch Preferred shares on 09/15/2025 at a weighted-average price of $96.916, plus disposals of other preferred series and 12,726 Class A common shares.

How many Series A Perpetual Stretch Preferred shares does Shao Wei-Ming beneficially own after the transaction?

The Form 4 reports beneficial ownership of 15,000 shares of the Series A Perpetual Stretch Preferred following the reported purchase.

What price did the reporting person pay for the purchased preferred shares?

The reported weighted-average price was $96.916, with individual trades ranging from $96.905 to $96.93 as noted in the footnote.

When was the Form 4 signed and by whom?

The Form 4 was signed by an attorney-in-fact, Allein Sabel, on 09/16/2025.

Does the filing indicate if these transactions are material to Strategy Inc's capital structure?

The Form 4 does not provide totals for outstanding shares or percentage ownership, so materiality cannot be determined