Strategy Inc — Director's Dealing 2012

May 9, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MICROSTRATEGY INC (MSTR)
CIK: 0001050446
Period of Report: 2012-05-07

Reporting Person: SAYLOR MICHAEL J (Director, Chairman, President and CEO, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-05-07	Class A Common Stock	M	20000	$20.69	Acquired	20000	Direct
2012-05-07	Class A Common Stock	S	10700	$149.2545	Disposed	9300	Direct
2012-05-07	Class A Common Stock	S	9300	$150.1672	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-05-07	Employee Stock Option (right to buy)	$20.69	M	20000	Disposed	2013-02-08	Class A Common Stock (20000)	Direct

Footnotes

F1: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $149.00 to $149.4608, inclusive. The reporting person undertakes to provide to MicroStrategy Incorporated, any security holder of MicroStrategy Incorporated, 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 footnotes 1 and 2 to this Form 4.

F2: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $150.00 to $150.36, inclusive.

F3: The 20,000 shares exercised on 05/07/2012 pursuant to this stock option vested on 02/28/2004. Of the remaining 357,846 shares pursuant to this stock option, 29,846 shares vested on 02/28/2004, 82,000 shares vested on 02/28/2005, 82,000 shares vested on 02/08/2006, 82,000 shares vested on 02/08/2007, and 82,000 shares vested on 02/08/2008.

F4: See Exhibit A.