Strategy Inc director exercises options, sells shares
Strategy Inc director Patten Jarrod M exercised stock options and sold shares of Class A common stock.
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Form Type
4
Rhea-AI Filing Summary
Strategy Inc director Patten Jarrod M exercised stock options and sold shares of Class A common stock. On April 7 and 8, 2026, he exercised a total of 2,100 options at $18.654 per share and acquired the same number of shares.
He then sold 2,100 shares in open-market transactions at weighted average prices of about $123.109 and $131.770. After these trades, he holds 28,000 Class A shares directly, stock options on 45,100 shares, and direct holdings of several Series A perpetual preferred stock classes.
Insider Trade Summary
Exercise and Sale: 2,100 shares ($231K approx. pre-tax spread)
Exercise and Sale
9 txns
Insider
Patten Jarrod M
Role
Director
Sold
2,100 shs ($271K)
Approx. gross sale proceeds
$271K
Approx. exercise cost
$39K
Approx. pre-tax spread
$231K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Director Stock Option (Right to buy) | 1,400 | $0.00 | $0.00 |
| Exercise | Class A Common Stock | 1,400 | $18.654 | $26K |
| Sale | Class A Common Stock | 1,400 | $131.77 | $184K |
| Exercise | Director Stock Option (Right to buy) | 700 | $0.00 | $0.00 |
| Exercise | Class A Common Stock | 700 | $18.654 | $13K |
| Sale | Class A Common Stock | 700 | $123.109 | $86K |
| 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) — 45,100 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 (4)
- F1. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $123.105 to $123.110, 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 sold at each price within the range set forth in this footnote.
- F2. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $131.770 to $131.810, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the range set forth in this footnote.
- F3. The 700 shares exercised on April 7, 2026 pursuant to this option vested on May 31, 2017. Of the remaining 46,500 shares subject to this option, 9,000 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.
- F4. The 1,400 shares exercised on April 8, 2026 pursuant to this option vested on May 31, 2017. Of the remaining 45,100 shares subject to this option, 7,600 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
Options exercised 7 Apr 2026: 700 shares at $18.654
Options exercised 8 Apr 2026: 1,400 shares at $18.654
Sale 7 Apr 2026: 700 shares at $123.109
+5 more
8 metrics
Options exercised 7 Apr 2026
700 shares at $18.654
Director Stock Option exercise into Class A Common Stock
Options exercised 8 Apr 2026
1,400 shares at $18.654
Director Stock Option exercise into Class A Common Stock
Sale 7 Apr 2026
700 shares at $123.109
Open-market sale of Class A Common Stock
Sale 8 Apr 2026
1,400 shares at $131.770
Open-market sale of Class A Common Stock
Common shares held after trades
28,000 shares
Direct Class A Common Stock ownership after transactions
Options remaining
45,100 shares
Director Stock Option position remaining after reported exercises
Series A Strife Preferred
10,000 shares
Direct holding of Series A Perpetual Strife Preferred Stock
Series A Stretch Preferred
29,335 shares
Direct holding of Series A Perpetual Stretch Preferred Stock
Key Terms
Director Stock Option, weighted average price, open-market sale, Perpetual Preferred Stock, +1 more
5 terms
Director Stock Option financial
"Director Stock Option (Right to buy)"
weighted average price financial
"The reported price is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
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.
Perpetual Preferred Stock financial
"Series A Perpetual Strife Preferred Stock"
A perpetual preferred stock is a type of share that behaves like a forever-lasting, fixed-income investment: it pays regular dividends and has no set maturity date, yet it represents ownership rather than a loan. It ranks ahead of common stock for dividend payments and in liquidation, so investors treat it as a mix between a bond and an equity stake; its value depends largely on the issuer’s credit and prevailing interest rates.
derivative security financial
"Exercise or conversion of derivative security"
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Strategy Inc (MSTR) director Patten Jarrod M do in this Form 4?
Director Patten Jarrod M exercised stock options and sold common shares in Strategy Inc. He converted 2,100 options into Class A shares, then sold those 2,100 shares in open-market transactions while retaining a sizable remaining equity and option position in the company.
How many Strategy Inc (MSTR) options did the director exercise and at what strike price?
He exercised 2,100 Director Stock Options. These options converted into 2,100 Class A common shares at an exercise price of $18.654 per share, with 700 options exercised on April 7, 2026 and 1,400 options exercised on April 8, 2026 according to the filing details.
What is the director’s remaining Strategy Inc (MSTR) common stock position after these trades?
After the reported transactions, the director directly owns 28,000 shares of Strategy Inc Class A common stock. This figure reflects his position following the exercise of 2,100 options and the subsequent sale of 2,100 common shares disclosed in the Form 4 filing.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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