Strategy Inc — Director's Dealing 2025

Jul 17, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MICROSTRATEGY Inc (MSTR)
CIK: 0001050446
Period of Report: 2025-07-14

Reporting Person: Shao Wei-Ming (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-07-14	Class A Common Stock	M	10900	$40.46	Acquired	23626	Direct
2025-07-14	Class A Common Stock	S	15	$440.980	Disposed	23611	Direct
2025-07-14	Class A Common Stock	S	141	$441.521	Disposed	23470	Direct
2025-07-14	Class A Common Stock	S	446	$442.554	Disposed	23024	Direct
2025-07-14	Class A Common Stock	S	627	$443.620	Disposed	22397	Direct
2025-07-14	Class A Common Stock	S	277	$444.620	Disposed	22120	Direct
2025-07-14	Class A Common Stock	S	856	$445.740	Disposed	21264	Direct
2025-07-14	Class A Common Stock	S	804	$446.470	Disposed	20460	Direct
2025-07-14	Class A Common Stock	S	1016	$447.588	Disposed	19444	Direct
2025-07-14	Class A Common Stock	S	1778	$448.542	Disposed	17666	Direct
2025-07-14	Class A Common Stock	S	951	$449.370	Disposed	16715	Direct
2025-07-14	Class A Common Stock	S	1074	$450.609	Disposed	15641	Direct
2025-07-14	Class A Common Stock	S	1022	$451.374	Disposed	14619	Direct
2025-07-14	Class A Common Stock	S	456	$452.607	Disposed	14163	Direct
2025-07-14	Class A Common Stock	S	231	$453.338	Disposed	13932	Direct
2025-07-14	Class A Common Stock	S	102	$454.635	Disposed	13830	Direct
2025-07-14	Class A Common Stock	S	1104	$455.139	Disposed	12726	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-07-14	Employee Stock Option (Right to buy)	$40.46	M	10900	Disposed	2032-02-17	Class A Common Stock (10900)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Series A Perpetual Stride Preferred Stock	3527	Direct
Series A Perpetual Strife Preferred Stock	500	Direct

Footnotes

F1: The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $440.978 to $440.982, inclusive. The reporting person undertakes to provide to MicroStrategy Incorporated d/b/a Strategy ("Strategy"), any security holder of Strategy, 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 this footnote.

F2: The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $441.239 to $441.949, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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 this footnote.

F3: The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $442.12 to $442.99, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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 this footnote.

F4: The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $443.022 to $443.94, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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 this footnote.

F5: The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $444.00 to $444.964, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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 this footnote.

F6: The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $445.21 to $445.98, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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 this footnote.

F7: The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $446.00 to $446.97, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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 this footnote.

F8: The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $447.012 to $447.999, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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 this footnote.

F9: The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $448.00 to $448.99, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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 this footnote.

F10: The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $449.002 to $449.97, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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 this footnote.

F11: The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $450.00 to $450.976, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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 this footnote.

F12: The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $451.006 to $451.78, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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 this footnote.

F13: The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $452.051 to $452.95, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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 this footnote.

F14: The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $453.039 to $453.86, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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 this footnote.

F15: The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $454.241 to $454.994, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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 this footnote.

F16: The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $455.00 to $455.94, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, 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 this footnote.

F17: The 10,900 shares exercised on July 14, 2025 pursuant to this option vested on February 17, 2024. Of the remaining 139,100 shares subject to this option, 39,100 shares vested on February 17, 2024, 50,000 shares vested on February 17, 2025 and 50,000 shares are scheduled to vest on February 17, 2026.