Strategy Inc — Director's Dealing 2025

Jul 15, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MICROSTRATEGY Inc (MSTR)
CIK: 0001050446
Period of Report: 2025-07-11

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-07-11	Class A Common Stock	M	10000	$40.46	Acquired	22726	Direct
2025-07-11	Class A Common Stock	S	200	$425.08	Disposed	22526	Direct
2025-07-11	Class A Common Stock	S	401	$427.044	Disposed	22125	Direct
2025-07-11	Class A Common Stock	S	886	$428.434	Disposed	21239	Direct
2025-07-11	Class A Common Stock	S	981	$429.334	Disposed	20528	Direct
2025-07-11	Class A Common Stock	S	2235	$430.364	Disposed	18023	Direct
2025-07-11	Class A Common Stock	S	592	$431.241	Disposed	17431	Direct
2025-07-11	Class A Common Stock	S	480	$432.367	Disposed	16951	Direct
2025-07-11	Class A Common Stock	S	1264	$433.661	Disposed	15687	Direct
2025-07-11	Class A Common Stock	S	1104	$434.514	Disposed	14583	Direct
2025-07-11	Class A Common Stock	S	1169	$435.83	Disposed	13414	Direct
2025-07-11	Class A Common Stock	S	488	$436.927	Disposed	12926	Direct
2025-07-11	Class A Common Stock	S	200	$437.825	Disposed	12726	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-07-11	Employee Stock Option (Right to buy)	$40.46	M	10000	Disposed	2032-02-17	Class A Common Stock (10000)	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 $425.00 to $425.16, 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 $426.72 to $427.55, 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 $427.81 to $428.79, 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 $428.90 to $429.88, 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 $429.91 to $430.90, 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 $430.92 to $431.70, 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 $432.14 to $432.95, 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.

F8: The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $433.18 to $433.96, 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 $434.18 to $435.07, 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 $435.50 to $436.24, 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 $436.71 to $437.39, 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 $437.82 to $437.83, 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 10,000 shares exercised on July 11, 2025 pursuant to this option vested on February 17, 2023. Of the remaining 150,000 shares subject to this option, 50,000 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.