Strategy Inc — Major Shareholding Notification 2025

Feb 6, 2025

xml version="1.0" encoding="UTF-8"? SCHEDULE 13G 0001446580 XXXXXXXX LIVE Class A Common Stock, par value $0.001 per share 12/31/2024 0001050446 MicroStrategy Incorporated 594972408 1850 Towers Crescent Plaza Tysons Corner VA 22182 Rule 13d-1(b) G1 Execution Services, LLC IL 11180 11605313 11180 11605313 11605313 5.1 BD OO With respect to Row 5 through Row 9 above, G1 Execution Services, LLC, SIG Brokerage, LP, Susquehanna Investment Group and Susquehanna Securities, LLC are affiliated independent broker-dealers which may be deemed a group. For purposes of this report, we have indicated that each reporting person has sole voting and dispositive power with respect to the shares beneficially owned by it and that the reporting persons have shared voting and dispositive power with respect to all shares beneficially owned by all of the reporting persons. Each of the reporting persons disclaims beneficial ownership of shares owned directly by another reporting person. SIG Brokerage, LP DE 3200 11605313 3200 11605313 11605313 5.1 BD PN With respect to Row 5 through Row 9 above, G1 Execution Services, LLC, SIG Brokerage, LP, Susquehanna Investment Group and Susquehanna Securities, LLC are affiliated independent broker-dealers which may be deemed a group. For purposes of this report, we have indicated that each reporting person has sole voting and dispositive power with respect to the shares beneficially owned by it and that the reporting persons have shared voting and dispositive power with respect to all shares beneficially owned by all of the reporting persons. Each of the reporting persons disclaims beneficial ownership of shares owned directly by another reporting person. Susquehanna Investment Group PA 57000 11605313 57000 11605313 11605313 N 5.1 BD PN With respect to Row 5 through Row 9 above, G1 Execution Services, LLC, SIG Brokerage, LP, Susquehanna Investment Group and Susquehanna Securities, LLC are affiliated independent broker-dealers which may be deemed a group. For purposes of this report, we have indicated that each reporting person has sole voting and dispositive power with respect to the shares beneficially owned by it and that the reporting persons have shared voting and dispositive power with respect to all shares beneficially owned by all of the reporting persons. Each of the reporting persons disclaims beneficial ownership of shares owned directly by another reporting person. Susquehanna Securities, LLC DE 11533933 11605313 11533933 11605313 11605313 5.1 BD OO With respect to Row 5 through Row 9 above, G1 Execution Services, LLC, SIG Brokerage, LP, Susquehanna Investment Group and Susquehanna Securities, LLC are affiliated independent broker-dealers which may be deemed a group. For purposes of this report, we have indicated that each reporting person has sole voting and dispositive power with respect to the shares beneficially owned by it and that the reporting persons have shared voting and dispositive power with respect to all shares beneficially owned by all of the reporting persons. Each of the reporting persons disclaims beneficial ownership of shares owned directly by another reporting person. MicroStrategy Incorporated 1850 Towers Crescent Plaza, Tysons Corner, Virginia 22182 This statement is filed by the entities listed below, who are collectively referred to herein as "Reporting Persons" with respect to the shares of Class A Common Stock, par value $0.001 per share (the "Shares"), of MicroStrategy Incorporated (the "Company"). (i) G1 Execution Services, LLC (ii) SIG Brokerage, LP (iii) Susquehanna Investment Group (iv) Susquehanna Securities, LLC The address of the principal business office of G1 Execution Services, LLC is: 175 W. Jackson Blvd. Suite 1700 Chicago, IL 60604 The address of the principal business office of each of SIG Brokerage, LP, Susquehanna Investment Group and Susquehanna Securities, LLC is: 401 E. City Avenue Suite 220 Bala Cynwyd, PA 19004 Citizenship is set forth in Row 4 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person. N BD The information required by this Item 4(a) is set forth in Row 9 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person. The number of Shares reported as beneficially owned by SIG Brokerage, LP consists of options to buy 3,200 Shares. The number of Shares reported as beneficially owned by Susquehanna Investment Group consists of options to buy 57,000 Shares. The number of Shares reported as beneficially owned by Susquehanna Securities, LLC includes options to buy 10,490,600 Shares. The Company's Current Report on Form 8-K, filed on December 30, 2024, indicates that there were 225,819,000 Shares outstanding as of December 29, 2024. 5.1 The information required by this Item 4(c)(i) is set forth in Row 5 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person. The information required by this Item 4(c)(ii) is set forth in Row 6 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person. The information required by this Item 4(c)(iii) is set forth in Row 7 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person. The information required by this Item 4(c)(iv) is set forth in Row 8 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person. Y Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. EXHIBIT INDEX EXHIBIT DESCRIPTION _ _ I Joint Filing Agreement G1 Execution Services, LLC /s/ Brian Sopinsky Brian Sopinsky, Secretary 02/06/2025 SIG Brokerage, LP /s/ Brian Sopinsky Brian Sopinsky, Assistant Secretary 02/06/2025 Susquehanna Investment Group /s/ Brian Sopinsky Brian Sopinsky, General Counsel 02/06/2025 Susquehanna Securities, LLC /s/ Brian Sopinsky Brian Sopinsky, Secretary 02/06/2025