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

Rhea-AI Filing Summary

MicroStrategy Incorporated (Ticker: MSTR) filed a Form 4 on 20 June 2025 disclosing that President, CEO and Director Phong Le executed a bona-fide gift of company stock on 18 June 2025.

• Security gifted: 8,400 shares of Class A common stock.
• Transaction code: G (no consideration received).
• Price per share: $0 (gift).
• Post-transaction direct ownership: 16,390 Class A shares.
• Preferred holdings unchanged: 6,000 shares of Series A Perpetual Strife Preferred Stock and 4,500 shares of Series A Perpetual Stride Preferred Stock.

No derivative securities were transacted, and there were no sales for cash. The filing reflects a personal transfer and has no effect on MicroStrategy’s capital structure, earnings, or cash flow. Given the company’s large public float, the 8,400-share reduction in the CEO’s stake is immaterial and unlikely to affect the share price or corporate control.

Insights

Securities Analyst

TL;DR: CEO’s 8,400-share gift is routine and financially immaterial to MSTR.

The Form 4 shows Phong Le gifted 8,400 Class A shares, leaving him with 16,390. Because the transfer generated no proceeds and represents a negligible fraction of MicroStrategy’s outstanding shares, it does not influence the company’s liquidity, capital allocation, or Bitcoin-focused treasury strategy. Insider gifts are typically viewed as neutral versus open-market sales. I see no valuation impact and maintain a neutral stance on the filing.

Corporate Governance Expert

TL;DR: Personal stock gift slightly lowers CEO ownership; governance outlook unchanged.

Le remains both CEO and Director, so his voting power decline is de minimis. The absence of 10b5-1 plan notation suggests an ordinary personal gift, not a structured disposition. Internal alignment between management and shareholders is preserved, and no red flags arise under Section 16 reporting rules. The filing is administrative rather than strategic and carries neutral governance implications.

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).

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^*

Le Phong

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
06/18/2025

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	06/18/2025		G(1)		8,400	D	$0	16,390	D
Series A Perpetual Strife Preferred Stock								6,000	D
Series A Perpetual Stride Preferred Stock								4,500	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

Explanation of Responses:

1. Represents a bona fide gift of Class A common stock of MicroStrategy Incorporated d/b/a Strategy by the reporting person for which no consideration was received.

	/s/ Allein Sabel, Attorney-in-Fact	06/20/2025
	** 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 MicroStrategy’s Form 4 dated 20 June 2025 disclose?

CEO Phong Le made a bona-fide gift of 8,400 Class A shares on 18 June 2025.

How many MicroStrategy shares does Phong Le own after the gift?

He directly owns 16,390 Class A shares following the transaction.

Was any cash involved in the insider transaction reported for MSTR?

No. The transaction code G indicates a gift with zero consideration received.

Did the Form 4 report any derivative security activity?

No derivative securities were acquired or disposed of; only the stock gift was reported.

Are Phong Le’s preferred stock holdings affected?

No. He still holds 6,000 Series A Strife and 4,500 Series A Stride preferred shares; no changes were reported.