[144] MicroStrategy Incorporated 8.00% Series A Perpetual Strike Preferred Stock SEC Filing

Rhea-AI Filing Summary

QuantumScape Corporation (NYSE: QS) filed an 8-K (Item 1.02) announcing that its wholly-owned subsidiary, QuantumScape Battery, Inc., has executed a Lease Termination Agreement with MLC V SC – Automation, LLC.

The lease covered 80,641 sq ft of space in San Jose, CA, originally running from 1 Nov 2021 to 30 Sep 2032. The parties agreed to end the lease effective 1 Aug 2025.

• Termination payments: $1.1 million lease-exit fee and $1.2 million brokerage fee (total $2.3 million).
• Future obligations eliminated: approximately $18.7 million in minimum lease payments.
• Footprint reduction aligns with the company’s technology-licensing focus; QuantumScape continues leasing other sites from an affiliate of the same landlord.

QuantumScape and its parent will have no further obligations for the terminated premises once the payment and surrender conditions are met. The full agreement will be filed with the company’s Form 10-Q for the quarter ended 30 Jun 2025.

Insights

Financial Analyst

TL;DR Lease exit trades a $2.3 M cash hit for $18.7 M savings, modestly improving liquidity and aligning with strategic focus.

The net present value of eliminating $18.7 M in future lease liabilities—against a one-time $2.3 M charge—represents a roughly 8× payback and improves operating leverage. While the absolute dollar amount is not transformative for a company at QuantumScape’s scale, the move indicates disciplined capital allocation and reinforces management’s licensing-first strategy. The absence of impairment charges or penalties beyond the disclosed fees limits downside risk. Overall, the transaction marginally strengthens the balance sheet and signals tighter cost control without impacting ongoing R&D activities, as other facilities remain in use.

Real Estate Specialist

TL;DR Early exit reduces excess space, cuts liability tail, minor cash cost.

Terminating an 80 k sq ft lease seven years early at a cost equal to roughly 12% of remaining rent is commercially favorable. The brokerage fee suggests the landlord may re-let quickly, indicating a cooperative negotiation. By narrowing its footprint, QuantumScape avoids future escalation clauses and common-area maintenance risk. Provided the retained properties suffice for pilot manufacturing, the deal trims non-core overhead without materially disrupting operations.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Class A	Fidelity Brokerage Services LLC 900 Salem Street Smithfield RI 02917	32500	13047693.27	253763053	07/09/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Class A	07/09/2025	Option Granted - 11/10/2022	Issuer			12500	07/09/2025	cash
Class A	07/09/2025	Option Granted - 02/17/2022	Issuer			20000	07/09/2025	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Wei-Ming Shao 1850 Towers Crescent Plaza Tysons Corner VA 22182	Class A	06/06/2025	1701	637093.73
Wei-Ming Shao 1850 Towers Crescent Plaza Tysons Corner VA 22182	Class A	05/14/2025	7500	3187500.00
Wei-Ming Shao 1850 Towers Crescent Plaza Tysons Corner VA 22182	Class A	05/12/2025	10000	4207900.00
Wing-Ming Shao 1850 Towers Crescent Plaza Tysons Corner VA 22182	Class A	04/15/2025	10000	3150000.00
Wing-Ming Shao 1850 Towers Crescent Plaza Tysons Corner VA 22182	Class A	04/14/2025	10000	3141632.00

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)