[8-K] MicroStrategy Incorporated 8.00% Series A Perpetual Strike Preferred Stock Reports Material Event
Codexis, Inc. (CDXS) received a Form 4 filing from Opaleye Management Inc., a 10% beneficial owner, detailing an open-market purchase completed on 27 June 2025.
- Transaction: 100,000 shares of Codexis common stock were purchased (Code P) at an average price of $2.39 per share.
- Post-transaction holdings: Opaleye now reports 12,350,000 shares held indirectly through Opaleye, L.P. and an additional 250,000 shares in a separately managed account, bringing total reported beneficial ownership to 12.6 million shares.
- Ownership form: All shares are reported as indirect (Form I); the investment manager disclaims beneficial ownership beyond its pecuniary interest.
- Reporting party status: Opaleye is classified as a 10% owner; no board or executive role is indicated.
The filing signals incremental insider accumulation by a large shareholder. While the 100 k-share purchase is modest relative to the 12.35 million-share position, fresh buying can be interpreted by investors as a vote of confidence in Codexis at current price levels. No derivative transactions, sales or options were disclosed in this filing.
Codexis, Inc. (CDXS) ha ricevuto una comunicazione Form 4 da parte di Opaleye Management Inc., un azionista con una partecipazione del 10%, che dettaglia un acquisto sul mercato aperto completato il 27 giugno 2025.
- Transazione: 100.000 azioni ordinarie di Codexis sono state acquistate (Codice P) a un prezzo medio di 2,39 $ per azione.
- Detenzione post-transazione: Opaleye dichiara ora di detenere indirettamente 12.350.000 azioni tramite Opaleye, L.P. e ulteriori 250.000 azioni in un conto gestito separatamente, portando la proprietà beneficiaria totale segnalata a 12,6 milioni di azioni.
- Forma di proprietà: Tutte le azioni sono indicate come indirette (Modulo I); il gestore degli investimenti nega la proprietà beneficiaria oltre il proprio interesse pecuniario.
- Stato del soggetto segnalante: Opaleye è classificata come detentore del 10%; non è indicato alcun ruolo nel consiglio o esecutivo.
La comunicazione segnala un accumulo incrementale da parte di un grande azionista interno. Sebbene l'acquisto di 100.000 azioni sia modesto rispetto alla posizione di 12,35 milioni di azioni, un nuovo acquisto può essere interpretato dagli investitori come un segnale di fiducia in Codexis ai livelli di prezzo attuali. Nessuna transazione derivata, vendita o opzione è stata dichiarata in questo modulo.
Codexis, Inc. (CDXS) recibió una presentación Formulario 4 de Opaleye Management Inc., un propietario beneficiario del 10%, detallando una compra en mercado abierto completada el 27 de junio de 2025.
- Transacción: Se adquirieron 100,000 acciones ordinarias de Codexis (Código P) a un precio promedio de $2.39 por acción.
- Posición después de la transacción: Opaleye reporta ahora 12,350,000 acciones mantenidas indirectamente a través de Opaleye, L.P. y otras 250,000 en una cuenta gestionada por separado, sumando una propiedad beneficiaria total reportada de 12.6 millones de acciones.
- Forma de propiedad: Todas las acciones se reportan como indirectas (Formulario I); el administrador de inversiones niega la propiedad beneficiaria más allá de su interés pecuniario.
- Estado del reportante: Opaleye está clasificada como un propietario del 10%; no se indica ningún cargo en la junta o ejecutivo.
La presentación indica una acumulación incremental por parte de un accionista importante. Aunque la compra de 100,000 acciones es modesta en relación con la posición de 12.35 millones de acciones, una compra reciente puede interpretarse por los inversores como un voto de confianza en Codexis a los niveles actuales de precio. No se revelaron transacciones con derivados, ventas u opciones en esta presentación.
Codexis, Inc. (CDXS)는 10% 지분 보유자인 Opaleye Management Inc.로부터 2025년 6월 27일에 완료된 공개시장 매수 내역을 담은 Form 4 신고서를 받았습니다.
- 거래 내용: Codexis 보통주 100,000주가 주당 평균 $2.39에 매수(Code P)되었습니다.
- 거래 후 보유 현황: Opaleye는 Opaleye, L.P.를 통해 간접적으로 12,350,000주를 보유하고 있으며, 별도로 관리되는 계좌에 250,000주를 추가로 보유해 총 보고된 실질 보유 주식 수는 1,260만주입니다.
- 소유 형태: 모든 주식은 간접 보유(Form I)로 보고되었으며, 투자 매니저는 금전적 이익 이상의 실질 소유권을 부인합니다.
- 신고자 상태: Opaleye는 10% 소유주로 분류되며, 이사회 또는 임원 역할은 명시되어 있지 않습니다.
이번 신고는 대주주의 점진적 내부자 매수를 나타냅니다. 100,000주 매수는 1,235만 주 보유에 비해 소규모이지만, 신규 매수는 투자자들에게 현재 가격대에서 Codexis에 대한 신뢰의 표시로 해석될 수 있습니다. 이번 신고서에는 파생상품 거래, 매도 또는 옵션 거래는 포함되지 않았습니다.
Codexis, Inc. (CDXS) a reçu un dépôt de formulaire 4 de la part de Opaleye Management Inc., un détenteur bénéficiaire à hauteur de 10%, détaillant un achat sur le marché ouvert réalisé le 27 juin 2025.
- Transaction : 100 000 actions ordinaires de Codexis ont été achetées (Code P) à un prix moyen de 2,39 $ par action.
- Positions après transaction : Opaleye déclare désormais détenir indirectement 12 350 000 actions via Opaleye, L.P. et un compte géré séparément contenant 250 000 actions supplémentaires, portant la propriété bénéficiaire totale déclarée à 12,6 millions d’actions.
- Forme de propriété : Toutes les actions sont déclarées comme indirectes (Formulaire I) ; le gestionnaire d’investissement décline toute propriété bénéficiaire au-delà de son intérêt pécuniaire.
- Statut du déclarant : Opaleye est classé comme un détenteur de 10% ; aucun rôle au conseil d’administration ou exécutif n’est indiqué.
Le dépôt indique une accumulation progressive par un grand actionnaire interne. Bien que l’achat de 100 000 actions soit modeste par rapport à la position de 12,35 millions d’actions, ce nouvel achat peut être interprété par les investisseurs comme un vote de confiance en Codexis aux niveaux de prix actuels. Aucune transaction dérivée, vente ou option n’a été divulguée dans ce dépôt.
Codexis, Inc. (CDXS) erhielt eine Form-4-Meldung von Opaleye Management Inc., einem 10%igen wirtschaftlichen Eigentümer, die einen am 27. Juni 2025 abgeschlossenen Kauf am offenen Markt beschreibt.
- Transaktion: 100.000 Aktien der Codexis-Stammaktien wurden zu einem Durchschnittspreis von 2,39 $ pro Aktie gekauft (Code P).
- Bestand nach der Transaktion: Opaleye hält nun indirekt 12.350.000 Aktien über Opaleye, L.P. sowie weitere 250.000 Aktien in einem separat verwalteten Konto, was die insgesamt gemeldete wirtschaftliche Eigentümerschaft auf 12,6 Millionen Aktien erhöht.
- Form der Eigentümerschaft: Alle Aktien werden als indirekt (Formular I) gemeldet; der Investmentmanager lehnt eine wirtschaftliche Eigentümerschaft über sein finanzielles Interesse hinaus ab.
- Status der meldenden Partei: Opaleye wird als 10%-Eigentümer eingestuft; keine Vorstand- oder Führungsfunktion wird angegeben.
Die Meldung signalisiert eine schrittweise Insider-Erhöhung durch einen Großaktionär. Obwohl der Kauf von 100.000 Aktien im Verhältnis zu der Position von 12,35 Millionen Aktien gering ist, kann der frische Kauf von Investoren als Vertrauensbeweis in Codexis zu den aktuellen Kursniveaus interpretiert werden. Es wurden keine Derivatgeschäfte, Verkäufe oder Optionen in dieser Meldung offengelegt.
- 10% owner purchased 100,000 shares at $2.39, signalling confidence and raising total indirect stake to 12.35 million shares.
- None.
Insights
TL;DR 10% owner Opaleye adds 100 k shares, lifting indirect stake to 12.35 m; modest but positive insider-buy signal.
Analysis: The $2.39 purchase price sits near recent lows, implying the investor views shares as undervalued. Although the incremental buy represents less than 1% of Opaleye’s existing position, continued accumulation by a fund already above the 10% threshold can bolster market sentiment. No sales or hedges were reported, reducing concerns of near-term distribution. Absent earnings data, the purchase is a standalone bullish indicator rather than confirmation of fundamental improvement.
TL;DR Additional indirect insider purchase strengthens alignment but retains disclaimer of true beneficial ownership.
The filing underscores sustained economic exposure by Opaleye without altering governance dynamics—no board seat, no direct control. Indirect holding structure limits transparency, yet repeated open-market buying typically aligns interests with minority shareholders. The absence of derivative grants or preferential terms suggests market-rate acquisition, lowering agency-risk concerns. Overall governance impact: mildly positive.
Codexis, Inc. (CDXS) ha ricevuto una comunicazione Form 4 da parte di Opaleye Management Inc., un azionista con una partecipazione del 10%, che dettaglia un acquisto sul mercato aperto completato il 27 giugno 2025.
- Transazione: 100.000 azioni ordinarie di Codexis sono state acquistate (Codice P) a un prezzo medio di 2,39 $ per azione.
- Detenzione post-transazione: Opaleye dichiara ora di detenere indirettamente 12.350.000 azioni tramite Opaleye, L.P. e ulteriori 250.000 azioni in un conto gestito separatamente, portando la proprietà beneficiaria totale segnalata a 12,6 milioni di azioni.
- Forma di proprietà: Tutte le azioni sono indicate come indirette (Modulo I); il gestore degli investimenti nega la proprietà beneficiaria oltre il proprio interesse pecuniario.
- Stato del soggetto segnalante: Opaleye è classificata come detentore del 10%; non è indicato alcun ruolo nel consiglio o esecutivo.
La comunicazione segnala un accumulo incrementale da parte di un grande azionista interno. Sebbene l'acquisto di 100.000 azioni sia modesto rispetto alla posizione di 12,35 milioni di azioni, un nuovo acquisto può essere interpretato dagli investitori come un segnale di fiducia in Codexis ai livelli di prezzo attuali. Nessuna transazione derivata, vendita o opzione è stata dichiarata in questo modulo.
Codexis, Inc. (CDXS) recibió una presentación Formulario 4 de Opaleye Management Inc., un propietario beneficiario del 10%, detallando una compra en mercado abierto completada el 27 de junio de 2025.
- Transacción: Se adquirieron 100,000 acciones ordinarias de Codexis (Código P) a un precio promedio de $2.39 por acción.
- Posición después de la transacción: Opaleye reporta ahora 12,350,000 acciones mantenidas indirectamente a través de Opaleye, L.P. y otras 250,000 en una cuenta gestionada por separado, sumando una propiedad beneficiaria total reportada de 12.6 millones de acciones.
- Forma de propiedad: Todas las acciones se reportan como indirectas (Formulario I); el administrador de inversiones niega la propiedad beneficiaria más allá de su interés pecuniario.
- Estado del reportante: Opaleye está clasificada como un propietario del 10%; no se indica ningún cargo en la junta o ejecutivo.
La presentación indica una acumulación incremental por parte de un accionista importante. Aunque la compra de 100,000 acciones es modesta en relación con la posición de 12.35 millones de acciones, una compra reciente puede interpretarse por los inversores como un voto de confianza en Codexis a los niveles actuales de precio. No se revelaron transacciones con derivados, ventas u opciones en esta presentación.
Codexis, Inc. (CDXS)는 10% 지분 보유자인 Opaleye Management Inc.로부터 2025년 6월 27일에 완료된 공개시장 매수 내역을 담은 Form 4 신고서를 받았습니다.
- 거래 내용: Codexis 보통주 100,000주가 주당 평균 $2.39에 매수(Code P)되었습니다.
- 거래 후 보유 현황: Opaleye는 Opaleye, L.P.를 통해 간접적으로 12,350,000주를 보유하고 있으며, 별도로 관리되는 계좌에 250,000주를 추가로 보유해 총 보고된 실질 보유 주식 수는 1,260만주입니다.
- 소유 형태: 모든 주식은 간접 보유(Form I)로 보고되었으며, 투자 매니저는 금전적 이익 이상의 실질 소유권을 부인합니다.
- 신고자 상태: Opaleye는 10% 소유주로 분류되며, 이사회 또는 임원 역할은 명시되어 있지 않습니다.
이번 신고는 대주주의 점진적 내부자 매수를 나타냅니다. 100,000주 매수는 1,235만 주 보유에 비해 소규모이지만, 신규 매수는 투자자들에게 현재 가격대에서 Codexis에 대한 신뢰의 표시로 해석될 수 있습니다. 이번 신고서에는 파생상품 거래, 매도 또는 옵션 거래는 포함되지 않았습니다.
Codexis, Inc. (CDXS) a reçu un dépôt de formulaire 4 de la part de Opaleye Management Inc., un détenteur bénéficiaire à hauteur de 10%, détaillant un achat sur le marché ouvert réalisé le 27 juin 2025.
- Transaction : 100 000 actions ordinaires de Codexis ont été achetées (Code P) à un prix moyen de 2,39 $ par action.
- Positions après transaction : Opaleye déclare désormais détenir indirectement 12 350 000 actions via Opaleye, L.P. et un compte géré séparément contenant 250 000 actions supplémentaires, portant la propriété bénéficiaire totale déclarée à 12,6 millions d’actions.
- Forme de propriété : Toutes les actions sont déclarées comme indirectes (Formulaire I) ; le gestionnaire d’investissement décline toute propriété bénéficiaire au-delà de son intérêt pécuniaire.
- Statut du déclarant : Opaleye est classé comme un détenteur de 10% ; aucun rôle au conseil d’administration ou exécutif n’est indiqué.
Le dépôt indique une accumulation progressive par un grand actionnaire interne. Bien que l’achat de 100 000 actions soit modeste par rapport à la position de 12,35 millions d’actions, ce nouvel achat peut être interprété par les investisseurs comme un vote de confiance en Codexis aux niveaux de prix actuels. Aucune transaction dérivée, vente ou option n’a été divulguée dans ce dépôt.
Codexis, Inc. (CDXS) erhielt eine Form-4-Meldung von Opaleye Management Inc., einem 10%igen wirtschaftlichen Eigentümer, die einen am 27. Juni 2025 abgeschlossenen Kauf am offenen Markt beschreibt.
- Transaktion: 100.000 Aktien der Codexis-Stammaktien wurden zu einem Durchschnittspreis von 2,39 $ pro Aktie gekauft (Code P).
- Bestand nach der Transaktion: Opaleye hält nun indirekt 12.350.000 Aktien über Opaleye, L.P. sowie weitere 250.000 Aktien in einem separat verwalteten Konto, was die insgesamt gemeldete wirtschaftliche Eigentümerschaft auf 12,6 Millionen Aktien erhöht.
- Form der Eigentümerschaft: Alle Aktien werden als indirekt (Formular I) gemeldet; der Investmentmanager lehnt eine wirtschaftliche Eigentümerschaft über sein finanzielles Interesse hinaus ab.
- Status der meldenden Partei: Opaleye wird als 10%-Eigentümer eingestuft; keine Vorstand- oder Führungsfunktion wird angegeben.
Die Meldung signalisiert eine schrittweise Insider-Erhöhung durch einen Großaktionär. Obwohl der Kauf von 100.000 Aktien im Verhältnis zu der Position von 12,35 Millionen Aktien gering ist, kann der frische Kauf von Investoren als Vertrauensbeweis in Codexis zu den aktuellen Kursniveaus interpretiert werden. Es wurden keine Derivatgeschäfte, Verkäufe oder Optionen in dieser Meldung offengelegt.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Election of Peter L. Briger, Jr. to the Board of Directors
On July 1, 2025, the Board of Directors (the “Board”) of MicroStrategy Incorporated d/b/a Strategy (“Strategy” or the “Company”), upon recommendation from the Nominating Committee of the Board, elected Peter L. Briger, Jr. as a member of the Board. At this time, Mr. Briger has not been named to any committee of the Board.
Mr. Briger, age 61, currently serves as Chairman of the Board of Directors of Fortress Investment Group (“Fortress”), a leading global investment management firm. Mr. Briger has been with Fortress since 2002 and acted as Co-Chief Executive Officer and Co-Chief Investments Officer until 2024. Prior to joining Fortress, Mr. Briger spent fifteen years at Goldman Sachs, where he became a partner in 1996. Mr. Briger serves, or has served, on the board of, or in an advisory capacity to, various companies and several charitable organizations including Princeton University, the UCSF Foundation, Tipping Point and the Guild Theatre in Menlo Park. In addition, Mr. Briger is a member of the Council on Foreign Relations and is a Lecturer at the Stanford Graduate School of Business. Mr. Briger received a B.A. from Princeton University and an M.B.A. from the Wharton School of Business at the University of Pennsylvania.
In connection with his election to the Board and pursuant to the Company’s 2023 Equity Incentive Plan (as amended, the “Plan”), Mr. Briger was automatically granted equity awards having an aggregate fair value of $2,000,000, consisting of (i) non-statutory stock options to purchase shares of the Company’s class A common stock, par value $0.001 per share, with a grant date fair value of $1,000,000, and (ii) restricted stock units with a grant date fair value of $1,000,000. Each of these awards will vest in equal annual installments over four years, subject to the terms of the Plan.
Mr. Briger will also be entitled to compensation pursuant to the Company’s non-employee director compensation policy, including the perquisites and other personal benefits to which all other non-employee directors are entitled, as described in the Company’s Proxy Statement filed with the Securities and Exchange Commission on April 28, 2025, which description is incorporated herein by reference.
Retirement of Wei-Ming Shao as Executive Vice President & General Counsel and Corporate Secretary
On July 1, 2025, the Company announced that Wei-Ming Shao, the Company’s Executive Vice President & General Counsel and Corporate Secretary, has informed the Company of his intention to retire on December 31, 2025 after more than 25 years of service. The Company expects to engage in a search for Mr. Shao’s replacement. Mr. Shao will participate in this search and help to ensure a smooth transition of his duties over the balance of 2025.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: July 1, 2025 | MicroStrategy Incorporated (Registrant) | |||||
| By: | /s/ W. Ming Shao | |||||
| Name: | W. Ming Shao | |||||
| Title: | Executive Vice President & General Counsel | |||||
FAQ
How many Codexis (CDXS) shares did Opaleye buy on 27 June 2025?
What was the purchase price for the insider transaction in CDXS?
What is Opaleye’s total reported ownership in Codexis after the transaction?
Did the Form 4 include any stock sales or derivative transactions?
Why is Opaleye considered a 10% owner of Codexis?
