Strategy Inc — Director's Dealing 2020

Dec 1, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MICROSTRATEGY Inc (MSTR)
CIK: 0001050446
Period of Report: 2020-11-27

Reporting Person: Le Phong (President & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-11-27	Class A Common Stock	M	40000	$201.25	Acquired	40000	Direct
2020-11-27	Class A Common Stock	S	800	$267.83	Disposed	39200	Direct
2020-11-27	Class A Common Stock	S	6800	$268.88	Disposed	32400	Direct
2020-11-27	Class A Common Stock	S	19380	$270.18	Disposed	13020	Direct
2020-11-27	Class A Common Stock	S	8669	$271.20	Disposed	4351	Direct
2020-11-27	Class A Common Stock	S	2505	$272.06	Disposed	1846	Direct
2020-11-27	Class A Common Stock	S	1544	$273.00	Disposed	302	Direct
2020-11-27	Class A Common Stock	S	302	$274.52	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-11-27	Employee Stock Option (Right to buy)	$201.25	M	40000	Disposed	2025-09-08	Class A Common Stock (40000)	Direct

Footnotes

F1: The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $267.68 to $268.08 per share, inclusive. The reporting person undertakes to provide 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 range set forth in this footnote.

F2: The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $268.68 to $269.56 per share, inclusive. The reporting person undertakes to provide 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 range set forth in this footnote.

F3: The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $269.68 to $270.67 per share, inclusive. The reporting person undertakes to provide 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 range set forth in this footnote.

F4: The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $270.69 to $271.63 per share, inclusive. The reporting person undertakes to provide 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 range set forth in this footnote.

F5: The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $271.72 to $272.69 per share, inclusive. The reporting person undertakes to provide 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 range set forth in this footnote.

F6: The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $272.74 to $273.72 per share, inclusive. The reporting person undertakes to provide 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 range set forth in this footnote.

F7: The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $274.00 to $274.55 per share, inclusive. The reporting person undertakes to provide 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 range set forth in this footnote.

F8: Of the 40,000 shares exercised on November 27, 2020 pursuant to this option, 10,000 shares vested on September 8, 2016, 10,000 shares vested on September 8, 2017, 10,000 shares vested on September 8, 2018, and 10,000 shares vested on September 8, 2019.

F9: See Exhibit A.