Strategy Inc (MSTR) CEO receives new option, RSU and PSU grants

Rhea-AI Filing Summary

Strategy Inc President & CEO Le Phong received new equity awards on March 17, 2026. He was granted options for 26,105 shares of Class A common stock at an exercise price of $150.28 per share, expiring on March 17, 2036. These options vest 25% on the first anniversary of the grant and 25% each year thereafter until fully vested.

Le Phong also received 36,595 restricted stock units, each representing one share of Class A common, vesting 25% annually over four years. In addition, he was granted a target of 20,911 performance stock units, which can pay out between 0% and 200% of the target based on Strategy’s relative total shareholder return versus the Nasdaq Composite Index over a three-year period from March 17, 2026 to March 16, 2029, subject to Compensation Committee certification and continued service.

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
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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).

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^*

Le Phong

(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
X	Officer (give title below)		Other (specify below)
	President & CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/17/2026

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
Series A Perpetual Strife Preferred Stock								6,000	D
Series A Perpetual Stretch Preferred Stock								5,500	D
Series A Perpetual Stretch Preferred Stock								71	I	By Minor Child 1
Series A Perpetual Stretch Preferred Stock								32	I	By Minor Child 2
Series A Perpetual Stretch Preferred Stock								28	I	By Minor Child 3
Series A Perpetual Stride Preferred Stock								4,500	D
Class A Common Stock								18,902	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
Employee Stock Option (Right to buy)	$150.28	03/17/2026		A		26,105		(1)	03/17/2036	Class A Common Stock	26,105	$0	26,105	D
Restricted Stock Units	(2)	03/17/2026		A		36,595		(3)	(3)	Class A Common Stock	36,595	$0	36,595	D
Performance Stock Units	(4)	03/17/2026		A		20,911		(4)	(4)	Class A Common Stock	20,911	$0	20,911	D

Explanation of Responses:

1. 25 percent of the shares subject to this option vest on the first anniversary of the grant date, and an additional 25 percent of the shares originally subject to this option vest on each anniversary thereafter until the option is vested in full.

2. Each restricted stock unit ("RSU") represents a contingent right to receive one share of class A common stock of Strategy Inc ("Strategy").

3. 25 percent of these RSUs vest on the first anniversary of the grant date, and an additional 25 percent of the original number of RSUs vest on each anniversary thereafter until the RSUs are vested in full.

4. Each performance stock unit ("PSU") represents a contingent right to receive shares of Strategy class A common stock of between 0% and 200% of the target number of units, with the percentage determined based on Strategy's relative total shareholder return ("TSR") as compared to the TSR of members of the Nasdaq Composite Index over a three-year performance period (March 17, 2026 to March 16, 2029). Vesting is subject to certification by Strategy's Compensation Committee of the level of achievement of the performance goal and the participant's continued service through that date. The "target" number of PSUs is reported on this Form 4.

	/s/ Allein Sabel, Attorney-in-Fact	03/19/2026
	** 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)

FAQ

What equity awards did Strategy Inc (MSTR) CEO Le Phong receive?

Le Phong received stock options, restricted stock units, and performance stock units on March 17, 2026. The grants include 26,105 options, 36,595 RSUs, and 20,911 target PSUs, all tied to Strategy Inc Class A common stock as part of his compensation.

How do Le Phong’s new stock options at Strategy Inc (MSTR) vest?

The 26,105 stock options vest in four equal annual installments. Twenty-five percent vest on the first anniversary of the March 17, 2026 grant date, with an additional 25% vesting on each subsequent anniversary until the option award is fully vested over four years.

What are the terms of the restricted stock units granted to Strategy Inc (MSTR) CEO?

Le Phong’s 36,595 restricted stock units each represent one share of Strategy Inc Class A common stock. These RSUs vest 25% on the first anniversary of the grant and 25% on each following anniversary until all units are fully vested, aligning compensation with ongoing service.

How are Strategy Inc (MSTR) CEO Le Phong’s performance stock units determined?

The 20,911 target performance stock units can pay out between 0% and 200% of target. Actual shares earned depend on Strategy Inc’s relative total shareholder return versus Nasdaq Composite Index members over March 17, 2026 to March 16, 2029, subject to Compensation Committee certification and continued service.

What is the exercise price and expiration for Le Phong’s new Strategy Inc options?

The stock options granted to Le Phong have an exercise price of $150.28 per share. They are scheduled to expire on March 17, 2036, giving a long-term window to exercise once vested, reinforcing a multi-year alignment with Strategy Inc shareholders through potential future share ownership.

Do Strategy Inc (MSTR) CEO equity awards involve any immediate stock purchases or sales?

No immediate market purchases or sales are reported. The filing shows compensation-related grants of options, RSUs, and PSUs with zero-dollar grant prices, vesting over time. These awards provide potential future ownership based on service and, for PSUs, performance rather than current open-market transactions.