[Form 4] MicroStrategy Incorporated 8.00% Series A Perpetual Strike Preferred Stock Insider Trading Activity

Rhea-AI Filing Summary

Gregg Winiarski, a director, purchased 10,000 shares of Series A Perpetual Stretch Preferred Stock on 08/08/2025 at a weighted average price of $97.652 per share, according to this Form 4 filed for Strategy Inc [ MSTR ]. The transaction is reported as a direct acquisition and leaves the reporting person with beneficial ownership of 10,000 shares. A footnote explains the reported price is a weighted average from multiple purchases at prices ranging from $97.53 to $97.73 and that the reporting person will provide detailed allocation on request. The Form 4 is signed by an attorney-in-fact on 08/12/2025.

Positive

• Director purchase disclosed: Gregg Winiarski directly acquired 10,000 Series A Perpetual Stretch Preferred shares.
• Transparent pricing disclosure: Filing includes a footnote with the weighted average price $97.652 and the purchase price range $97.53–$97.73, with an undertaking to provide allocation details.

Negative

• None.

Insights

Securities Analyst

TL;DR: A director made a straightforward direct purchase of preferred shares; transaction is disclosed clearly on Form 4.

The Form 4 shows a direct insider purchase of 10,000 Series A Perpetual Stretch Preferred shares at a weighted average price of $97.652, leaving the director with 10,000 shares beneficially owned. The filing includes a transparent footnote disclosing the price range ($97.53–$97.73) across multiple trades and an undertaking to provide allocation details on request. For investors, this is a routine insider acquisition disclosure rather than a change in control or issuance event.

Corporate Governance Expert

TL;DR: Disclosure is complete and signed by attorney-in-fact; no governance red flags in this Form 4.

The report identifies the reporting person as a director and marks the filing as by one reporting person. The transaction is recorded as direct ownership and the form contains the customary explanatory footnote about weighted-average pricing and availability of allocation details. The signature by an attorney-in-fact is noted with a filing date of 08/12/2025. There are no indications in this filing of related-party transactions, grants, or unusual derivative activity that would raise governance concerns.

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^*

WINIARSKI GREGG

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/08/2025

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	08/08/2025		P		10,000	A	$97.652(1)	10,000	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 $97.53 to $97.73, inclusive. The reporting person undertakes to provide to Strategy Inc, any security holder of Strategy Inc, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the ranges set forth in this footnote.

	/s/ Allein Sabel, Attorney-in-Fact	08/12/2025
	** 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 did the Form 4 for STRK/Strategy Inc report?

The Form 4 reports that director Gregg Winiarski acquired 10,000 Series A Perpetual Stretch Preferred shares on 08/08/2025 at a weighted average price of $97.652 per share, with 10,000 shares beneficially owned following the transaction.

What price was paid for the Series A Preferred shares?

The reported weighted average price was $97.652 per share, with individual transaction prices ranging from $97.53 to $97.73 as noted in the footnote.

Was the purchase direct or indirect?

The transaction is reported as a direct (D) acquisition and the filing shows direct beneficial ownership of the 10,000 shares.

When was the transaction reported and when was the Form 4 signed?

The transaction date is 08/08/2025 and the Form 4 bears a signature by an attorney-in-fact dated 08/12/2025.

Does the Form 4 show any derivative transactions?

No. Table II for derivative securities contains no entries in this filing.