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Strategy Inc — Director's Dealing 2025
Nov 20, 2025
29883_dirs_2025-11-20_7b206baf-bef3-4176-bbba-f6b33431f46f.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: Strategy Inc (MSTR)
CIK: 0001050446
Period of Report: 2025-11-18
Reporting Person: Shao Wei-Ming (N/A)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2025-11-18 | Class A Common Stock | M | 2600 | $69.123 | Acquired | 35326 | Direct |
| 2025-11-18 | Class A Common Stock | S | 2600 | $200 | Disposed | 32726 | Direct |
| 2025-11-19 | Class A Common Stock | M | 2600 | $69.123 | Acquired | 35326 | Direct |
| 2025-11-19 | Class A Common Stock | S | 2600 | $202.02 | Disposed | 32726 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2025-11-18 | Employee Stock Option (Right to buy) | $69.123 | M | 2600 | Disposed | 2031-02-23 | Class A Common Stock (2600) | Direct |
| 2025-11-19 | Employee Stock Option (Right to buy) | $69.123 | M | 2600 | Disposed | 2031-02-23 | Class A Common Stock (2600) | Direct |
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| Series A Perpetual Strife Preferred Stock | 500 | Direct |
| Series A Perpetual Stretch Preferred Stock | 15000 | Direct |
| Series A Perpetual Stride Preferred Stock | 3527 | Direct |
Footnotes
F1: The transactions reported were effected pursuant to a Rule 10b5-1 trading plan established by the reporting person on July 11, 2025. As previously disclosed in Strategy Inc's Current Report on Form 8-K filed with the Securities and Exchange Commission on July 1, 2025, the reporting person informed the issuer of his intention to retire effective December 31, 2025.
F2: The 2,600 shares exercised on November 18, 2025 pursuant to this option vested on February 23, 2022. Of the remaining 173,598 shares subject to this option, 23,598 shares vested on February 23, 2022, 50,000 shares vested on February 23, 2023, 50,000 shares vested on February 23, 2024 and 50,000 shares vested on February 23, 2025.
F3: The 2,600 shares exercised on November 19, 2025 pursuant to this option vested on February 23, 2022. Of the remaining 170,998 shares subject to this option, 20,998 shares vested on February 23, 2022, 50,000 shares vested on February 23, 2023, 50,000 shares vested on February 23, 2024 and 50,000 shares vested on February 23, 2025.