Strategy Inc (MSTR) director exercises options, sells 700 shares, holds 28,000

Rhea-AI Filing Summary

Strategy Inc director Jarrod M. Patten exercised stock options and sold shares on the same day. He exercised options to acquire 700 shares of Class A Common Stock at $18.654 per share, then sold 700 shares in an open-market transaction at $137.37 per share. Following these transactions, he directly holds 28,000 shares of Class A Common Stock. A related option award remains outstanding for 49,300 shares, with tranches that vested between May 31, 2017 and May 31, 2020. He also reports direct holdings of several Series A Perpetual Preferred Stock classes.

Insider Trade Summary

Net Seller: 700 shares ($96,159)

Net Sell 6 txns

Insider Patten Jarrod M

Role Director

Sold 700 shs ($96K)

Type	Security	Shares	Price	Value
Exercise	Director Stock Option (Right to buy)	700	$0.00	--
Exercise	Class A Common Stock	700	$18.654	$13K
Sale	Class A Common Stock	700	$137.37	$96K
holding	Series A Perpetual Strife Preferred Stock	--	--	--
holding	Series A Perpetual Stretch Preferred Stock	--	--	--
holding	Series A Perpetual Stride Preferred Stock	--	--	--

Holdings After Transaction: Director Stock Option (Right to buy) — 49,300 shares (Direct); Class A Common Stock — 28,700 shares (Direct); Series A Perpetual Strife Preferred Stock — 10,000 shares (Direct); Series A Perpetual Stretch Preferred Stock — 29,335 shares (Direct); Series A Perpetual Stride Preferred Stock — 5,000 shares (Direct)

Footnotes (1)

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Key Figures

Options exercised: 700 shares Option exercise price: $18.654 per share Shares sold: 700 shares +5 more

8 metrics

Options exercised 700 shares Director Stock Option exercise on March 26, 2026

Option exercise price $18.654 per share Exercise price for 700-share option

Shares sold 700 shares Class A Common Stock open-market sale

Sale price $137.37 per share Price for 700-share open-market sale

Common shares held after 28,000 shares Class A Common Stock directly owned post-transaction

Remaining option shares 49,300 shares Shares still subject to Director Stock Option

Strife Preferred holding 10,000 shares Series A Perpetual Strife Preferred Stock directly held

Stretch Preferred holding 29,335 shares Series A Perpetual Stretch Preferred Stock directly held

Key Terms

Director Stock Option, open-market sale, Series A Perpetual Strife Preferred Stock, Series A Perpetual Stretch Preferred Stock, +1 more

5 terms

Director Stock Option financial

"Director Stock Option (Right to buy) exercised for 700 shares"

open-market sale financial

"transaction_code_description: Sale in open market or private transaction"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Series A Perpetual Strife Preferred Stock financial

"Series A Perpetual Strife Preferred Stock listed as a holding"

Series A Perpetual Stretch Preferred Stock financial

"Series A Perpetual Stretch Preferred Stock with 29,335 shares"

vesting financial

"shares exercised on March 26, 2026 pursuant to this option vested on May 31, 2017"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

Form 4 Insider Transactions: What Each Field Means →

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^*

Patten Jarrod M

(Last) (First) (Middle)

C/O STRATEGY INC

1850 TOWERS CRESCENT PLAZA

(Street)

TYSONS CORNER VIRGINIA 22182

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/26/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	03/26/2026		M		700	A	$18.654	28,700	D
Class A Common Stock	03/26/2026		S		700	D	$137.37	28,000	D
Series A Perpetual Strife Preferred Stock								10,000	D
Series A Perpetual Stretch Preferred Stock								29,335	D
Series A Perpetual Stride Preferred Stock								5,000	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
Director Stock Option (Right to buy)	$18.654	03/26/2026		M			700	(1)	05/31/2026	Class A Common Stock	700	$0	49,300	D

Explanation of Responses:

1. The 700 shares exercised on March 26, 2026 pursuant to this option vested on May 31, 2017. Of the remaining 49,300 shares subject to this option, 11,800 shares vested on May 31, 2017, 12,500 shares vested on May 31, 2018, 12,500 shares vested on May 31, 2019, and 12,500 shares vested on May 31, 2020.

Remarks:

Exhibit 24 - Power of Attorney

	/s/ Allein Sabel, Attorney-in-Fact	03/30/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transactions did MSTR director Jarrod Patten report?

Director Jarrod M. Patten reported exercising options for 700 shares of Strategy Inc Class A Common Stock at $18.654 per share, then selling 700 shares at $137.37 per share. The filing reflects a combined exercise-and-sale pattern on the same date.

How many MSTR shares does Jarrod Patten hold after the reported trades?

After the reported transactions, Jarrod M. Patten directly holds 28,000 shares of Strategy Inc Class A Common Stock. The Form 4 also shows he continues to hold multiple Series A Perpetual Preferred Stock positions in addition to his common stock stake.

What options did Jarrod Patten exercise in this MSTR Form 4 filing?

Jarrod M. Patten exercised a Director Stock Option covering 700 shares of Strategy Inc Class A Common Stock at an exercise price of $18.654 per share. The option originally vested in tranches between May 31, 2017 and May 31, 2020 according to the footnote.

At what price did the MSTR director sell shares in the reported transaction?

In the reported open-market transaction, the Strategy Inc director sold 700 shares of Class A Common Stock at a price of $137.37 per share. This sale followed the same-day exercise of options for an equal number of shares at $18.654 per share.

Does Jarrod Patten still have unexercised options in MSTR after this filing?

Yes. After exercising 700 shares under the Director Stock Option, the filing notes that 49,300 shares remain subject to the option. These remaining shares vest across tranches that were scheduled between 2017 and 2020, as detailed in the footnote.

What preferred stock holdings does the MSTR director report?

The director reports direct holdings in several Strategy Inc preferred series: 10,000 shares of Series A Perpetual Strife Preferred Stock, 29,335 shares of Series A Perpetual Stretch Preferred Stock, and 5,000 shares of Series A Perpetual Stride Preferred Stock, all listed as ongoing holdings.