Strategy Inc Form 4: Insider Buys Small Pref Stakes, Sells Large Share Blocks

Rhea-AI Filing Summary

Le Phong, President & CEO and director of Strategy Inc [MSTR], reported multiple transactions on Form 4 dated 08/26/2025. The report shows three small acquisitions of Series A Perpetual Stretch Preferred Stock on 08/26/2025: 71 shares at $95.02, 32 shares at $95.05 and 16 shares at $95.05, each reported as indirect holdings by minor children. The filing also lists disposals of several holdings: 5,500, 6,000 and 4,500 shares of Series A preferred securities (labels as Stride/Strife/Stride in the table) and 16,390 shares of Class A common stock.

The form is filed individually by the reporting person and was signed by an attorney-in-fact, Allein Sabel, on 08/28/2025. The filing provides name, corporate address in Tysons Corner, VA, and identifies the reporting persons roles as Director and President & CEO. No derivative securities or exercise dates are reported; no additional explanatory text is provided.

Insights

Financial Analyst

TL;DR: Insider reported mixed activity: small preferred purchases indirectly and sizable disposals of preferred and Class A common stock on 08/26/2025.

The filing documents both acquisitions and disposals by Le Phong, indicating a repositioning of holdings rather than a clear accumulation signal. Acquisitions are modest (71, 32, 16 Series A preferred) and recorded as indirect via minor children, while the disposals are larger in scale (5,500; 6,000; 4,500 preferred and 16,390 Class A common). Transaction prices for the purchases are about $95 per share. For investors, the mix of small purchases and larger disposals may reflect estate/householding transfers or liquidity needs rather than company-operating information; the form contains no financial performance data.

Corporate Governance Expert

TL;DR: Filing is a routine Section 16 disclosure showing compliance and indirect holdings via family accounts; record includes multiple disposals.

The Form 4 properly identifies the reporting persons positions and reports transactions with an attorney-in-fact signature. Indirect acquisitions credited to minor children are clearly disclosed, satisfying beneficial-ownership rules. The presence of sizeable disposals alongside modest indirect purchases is notable for governance review but not itself an admission of wrongdoing; the filing lacks context (e.g., internal trading plans) and does not reference Rule 10b5-1 arrangements. From a governance perspective, the document demonstrates disclosure compliance but provides limited insight into intent or timing.

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 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
X	Officer (give title below)		Other (specify below)
	President & CEO

3. Date of Earliest Transaction (Month/Day/Year)
08/26/2025

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	08/26/2025		P		71	A	$95.02	71	I	By Minor Child 1
Series A Perpetual Stretch Preferred Stock	08/26/2025		P		32	A	$95.05	32	I	By Minor Child 2
Series A Perpetual Stretch Preferred Stock	08/26/2025		P		16	A	$95.05	16	I	By Minor Child 3
Series A Perpetual Stretch Preferred Stock								5,500	D
Series A Perpetual Strife Preferred Stock								6,000	D
Series A Perpetual Stride Preferred Stock								4,500	D
Class A Common Stock								16,390	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:

	/s/ Allein Sabel, Attorney-in-Fact	08/28/2025
	** 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 transactions did Le Phong report on Form 4 for Strategy Inc [MSTR] on 08/26/2025?

The filing reports three small acquisitions of Series A Perpetual Stretch Preferred Stock (71 @ $95.02; 32 @ $95.05; 16 @ $95.05, all indirect) and disposals of 5,500; 6,000; 4,500 Series A preferred shares and 16,390 Class A common shares.

How is the acquired preferred stock held according to the filing?

The three acquisitions of Series A Perpetual Stretch Preferred Stock are reported as indirect beneficial ownership and noted by minor children.

Who signed the Form 4 and when was it signed?

The form was signed by Allein Sabel, Attorney-in-Fact, on 08/28/2025.

What roles does the reporting person hold at the issuer?

Le Phong is reported as a Director and as an Officer with the title President & CEO.

Does the filing report any derivative securities or option exercises?

No derivative securities, exercises, or expiration dates are reported in Table II; the filing contains no derivative entries.