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

Rhea-AI Filing Summary

On 25 Jul 2025, Chrome Fields Asset Management LLC, a director and >10% owner of Aureus Greenway Holdings (AGH), reported sizable insider sales on Form 4.

• Disposed of 2,000,000 common shares at $0.975, cutting its direct common stake to 2,352,000 shares.
• Sold its entire holding of 4,000,000 Series A preferred shares at $0.01, leaving 0 preferred shares.

The combined transactions generated roughly $1.96 million in proceeds and materially reduce the insider’s equity exposure.

Positive

• None.

Negative

• 2 million common shares sold by a >10% owner may pressure AGH’s float and signal waning insider confidence.
• Full divestiture of 4 million preferred shares removes a significant layer of insider alignment.

Insights

Financial Analyst

TL;DR: Large insider sale; signals reduced commitment, modest cash raised, mildly negative for sentiment.

Chrome Fields shed 46% of its common stake and exited preferred holdings, receiving ≈$2 M. While the dollar total is small, percentage-wise the cut is steep for a >10% holder. Such sales can pressure share price and dampen investor confidence unless clearly linked to liquidity needs unrelated to fundamentals. No offsetting purchases were disclosed.

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
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Kang Andrew

(Last) (First) (Middle)

C/O MICROSTRATEGY INCORPORATED

1850 TOWERS CRESCENT PLAZA

(Street)

TYSONS CORNER VA 22182

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
MICROSTRATEGY Inc [ MSTR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

3. Date of Earliest Transaction (Month/Day/Year)
07/29/2025

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	07/29/2025		P		2,800	A	$90(1)	2,800	D
Series A Perpetual Stride Preferred Stock								2,250	D
Series A Perpetual Strife Preferred Stock								1,500	D
Class A Common Stock								24,460	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. Represents shares purchased through a directed share program in connection with the underwritten public offering of MicroStrategy Incorporated d/b/a Strategy's Variable Rate Series A Perpetual Stretch Preferred Stock. These shares were purchased at the public offering price of $90.00 per share.

	/s/ Allein Sabel, Attorney-in-Fact	07/29/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

How many AGH common shares did Chrome Fields sell?

The filing shows a sale of 2,000,000 common shares at $0.975 each.

What is Chrome Fields' remaining AGH common shareholding?

After the transaction, it owns 2,352,000 common shares directly.

Did the insider sell any preferred shares?

Yes, all 4,000,000 Series A preferred shares were sold at $0.01 each, leaving none.

What was the total cash generated from these sales?

Approximate proceeds are $1.96 million (common ≈$1.95 M, preferred ≈$40 k).

Does this filing include any derivative transactions?

No derivative securities were reported in Table II.