STOCK TITAN

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

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
4
Insider Shao Wei-Ming
Role EVP & General Counsel
Sold 10,000 shs ($4.32M)
Type Security Shares Price Value
Exercise Employee Stock Option (Right to buy) 10,000 $0.00 --
Exercise Class A Common Stock 10,000 $40.46 $405K
Sale Class A Common Stock 200 $425.08 $85K
Sale Class A Common Stock 401 $427.044 $171K
Sale Class A Common Stock 886 $428.434 $380K
Sale Class A Common Stock 981 $429.334 $421K
Sale Class A Common Stock 2,235 $430.364 $962K
Sale Class A Common Stock 592 $431.241 $255K
Sale Class A Common Stock 480 $432.367 $208K
Sale Class A Common Stock 1,264 $433.661 $548K
Sale Class A Common Stock 1,104 $434.514 $480K
Sale Class A Common Stock 1,169 $435.83 $509K
Sale Class A Common Stock 488 $436.927 $213K
Sale Class A Common Stock 200 $437.825 $88K
holding Series A Perpetual Stride Preferred Stock -- -- --
holding Series A Perpetual Strife Preferred Stock -- -- --
Holdings After Transaction: Employee Stock Option (Right to buy) — 150,000 shares (Direct); Class A Common Stock — 22,726 shares (Direct); Series A Perpetual Stride Preferred Stock — 3,527 shares (Direct); Series A Perpetual Strife Preferred Stock — 500 shares (Direct)
Footnotes (1)
  1. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $425.00 to $425.16, inclusive. The reporting person undertakes to provide to MicroStrategy Incorporated d/b/a Strategy ("Strategy"), any security holder of Strategy, 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. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $426.72 to $427.55, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $427.81 to $428.79, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $428.90 to $429.88, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $429.91 to $430.90, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $430.92 to $431.70, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $432.14 to $432.95, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $433.18 to $433.96, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $434.18 to $435.07, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $435.50 to $436.24, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $436.71 to $437.39, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $437.82 to $437.83, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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. The 10,000 shares exercised on July 11, 2025 pursuant to this option vested on February 17, 2023. Of the remaining 150,000 shares subject to this option, 50,000 shares vested on February 17, 2024, 50,000 shares vested on February 17, 2025 and 50,000 shares are scheduled to vest on February 17, 2026.
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*
Shao Wei-Ming

(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 & General Counsel
3. Date of Earliest Transaction (Month/Day/Year)
07/11/2025
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
Class A Common Stock 07/11/2025 M 10,000 A $40.46 22,726 D
Class A Common Stock 07/11/2025 S 200 D $425.08(1) 22,526 D
Class A Common Stock 07/11/2025 S 401 D $427.044(2) 22,125 D
Class A Common Stock 07/11/2025 S 886 D $428.434(3) 21,239 D
Class A Common Stock 07/11/2025 S 981 D $429.334(4) 20,528 D
Class A Common Stock 07/11/2025 S 2,235 D $430.364(5) 18,023 D
Class A Common Stock 07/11/2025 S 592 D $431.241(6) 17,431 D
Class A Common Stock 07/11/2025 S 480 D $432.367(7) 16,951 D
Class A Common Stock 07/11/2025 S 1,264 D $433.661(8) 15,687 D
Class A Common Stock 07/11/2025 S 1,104 D $434.514(9) 14,583 D
Class A Common Stock 07/11/2025 S 1,169 D $435.83(10) 13,414 D
Class A Common Stock 07/11/2025 S 488 D $436.927(11) 12,926 D
Class A Common Stock 07/11/2025 S 200 D $437.825(12) 12,726 D
Series A Perpetual Stride Preferred Stock 3,527 D
Series A Perpetual Strife Preferred Stock 500 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) $40.46 07/11/2025 M 10,000 (13) 02/17/2032 Class A Common Stock 10,000 $0 150,000 D
Explanation of Responses:
1. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $425.00 to $425.16, inclusive. The reporting person undertakes to provide to MicroStrategy Incorporated d/b/a Strategy ("Strategy"), any security holder of Strategy, 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.
2. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $426.72 to $427.55, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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.
3. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $427.81 to $428.79, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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.
4. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $428.90 to $429.88, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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.
5. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $429.91 to $430.90, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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.
6. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $430.92 to $431.70, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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.
7. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $432.14 to $432.95, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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.
8. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $433.18 to $433.96, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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.
9. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $434.18 to $435.07, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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.
10. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $435.50 to $436.24, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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.
11. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $436.71 to $437.39, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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.
12. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $437.82 to $437.83, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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.
13. The 10,000 shares exercised on July 11, 2025 pursuant to this option vested on February 17, 2023. Of the remaining 150,000 shares subject to this option, 50,000 shares vested on February 17, 2024, 50,000 shares vested on February 17, 2025 and 50,000 shares are scheduled to vest on February 17, 2026.
/s/ Allein Sabel, Attorney-in-Fact 07/15/2025
** 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.