| Name | Relationship | Address | Signature | Signature date | CIK |
|---|---|---|---|---|---|
| Shao Wei-Ming | EVP & General Counsel | C/O STRATEGY INC, 1850 TOWERS CRESCENT PLAZA, TYSONS CORNER | /s/ Allein Sabel, Attorney-in-Fact | 14 Nov 2025 | 0001663488 |
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | MSTR | Class A Common Stock | Options Exercise | $809,200 | +20,000 | +157% | $40.46 | 32,726 | 12 Nov 2025 | Direct | |
| transaction | MSTR | Class A Common Stock | Options Exercise | $368,702 | +5,334 | +16% | $69.12 | 38,060 | 12 Nov 2025 | Direct | F1 |
| transaction | MSTR | Class A Common Stock | Sale | $68,171 | -309 | -0.81% | $220.62 | 37,751 | 12 Nov 2025 | Direct | F1, F2 |
| transaction | MSTR | Class A Common Stock | Sale | $113,391 | -511 | -1.4% | $221.90 | 37,240 | 12 Nov 2025 | Direct | F1, F3 |
| transaction | MSTR | Class A Common Stock | Sale | $140,218 | -629 | -1.7% | $222.92 | 36,611 | 12 Nov 2025 | Direct | F1, F4 |
| transaction | MSTR | Class A Common Stock | Sale | $162,895 | -727 | -2% | $224.06 | 35,884 | 12 Nov 2025 | Direct | F1, F5 |
| transaction | MSTR | Class A Common Stock | Sale | $191,728 | -853 | -2.4% | $224.77 | 35,031 | 12 Nov 2025 | Direct | F1, F6 |
| transaction | MSTR | Class A Common Stock | Sale | $77,292 | -342 | -0.98% | $226.00 | 34,689 | 12 Nov 2025 | Direct | F1, F7 |
| transaction | MSTR | Class A Common Stock | Sale | $103,296 | -455 | -1.3% | $227.02 | 34,234 | 12 Nov 2025 | Direct | F1, F8 |
| transaction | MSTR | Class A Common Stock | Sale | $25,296 | -111 | -0.32% | $227.89 | 34,123 | 12 Nov 2025 | Direct | F1, F9 |
| transaction | MSTR | Class A Common Stock | Sale | $11,002 | -48 | -0.14% | $229.20 | 34,075 | 12 Nov 2025 | Direct | F1, F10 |
| transaction | MSTR | Class A Common Stock | Sale | $45,627 | -198 | -0.58% | $230.44 | 33,877 | 12 Nov 2025 | Direct | F1, F11 |
| transaction | MSTR | Class A Common Stock | Sale | $43,328 | -187 | -0.55% | $231.70 | 33,690 | 12 Nov 2025 | Direct | F1, F12 |
| transaction | MSTR | Class A Common Stock | Sale | $81,071 | -348 | -1% | $232.96 | 33,342 | 12 Nov 2025 | Direct | F1, F13 |
| transaction | MSTR | Class A Common Stock | Sale | $114,543 | -490 | -1.5% | $233.76 | 32,852 | 12 Nov 2025 | Direct | F1, F14 |
| transaction | MSTR | Class A Common Stock | Sale | $29,538 | -126 | -0.38% | $234.43 | 32,726 | 12 Nov 2025 | Direct | F1, F15 |
| transaction | MSTR | Class A Common Stock | Options Exercise | $179,720 | +2,600 | +7.9% | $69.12 | 35,326 | 13 Nov 2025 | Direct | F1 |
| transaction | MSTR | Class A Common Stock | Sale | $581,534 | -2,600 | -7.4% | $223.67 | 32,726 | 13 Nov 2025 | Direct | F1, F16 |
| holding | MSTR | Series A Perpetual Strife Preferred Stock | 500 | 12 Nov 2025 | Direct | ||||||
| holding | MSTR | Series A Perpetual Stretch Preferred Stock | 15,000 | 12 Nov 2025 | Direct | ||||||
| holding | MSTR | Series A Perpetual Stride Preferred Stock | 3,527 | 12 Nov 2025 | Direct |
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | MSTR | Employee Stock Option (Right to buy) | Options Exercise | $0 | -20,000 | -20% | $0.000000 | 79,100 | 12 Nov 2025 | Class A Common Stock | 20,000 | $40.46 | Direct | F17 |
| transaction | MSTR | Employee Stock Option (Right to buy) | Options Exercise | $0 | -5,334 | -2.8% | $0.000000 | 183,998 | 12 Nov 2025 | Class A Common Stock | 5,334 | $69.12 | Direct | F1, F18 |
| transaction | MSTR | Employee Stock Option (Right to buy) | Options Exercise | $0 | -2,600 | -1.4% | $0.000000 | 181,398 | 13 Nov 2025 | Class A Common Stock | 2,600 | $69.12 | Direct | F1, F19 |
Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.
Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
| Id | Content |
|---|---|
| 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 ("Strategy") Current Report on Form 8-K filed with the Securities and Exchange Commission ("SEC") on July 1, 2025, the reporting person informed the issuer of his intention to retire effective December 31, 2025. |
| F2 | The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $220.235 to $221.115, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the SEC, 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 $221.37 to $222.240, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the SEC, 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 $222.430 to $223.426, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the SEC, 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 $223.446 to $224.415, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the SEC, 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 $224.45 to $225.448, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the SEC, 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 $225.505 to $226.460, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the SEC, 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 $226.56 to $227.50, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the SEC, 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 $227.665 to $228.03, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the SEC, 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 $228.81 to $229.77, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the SEC, 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 $230.02 to $231.00, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the SEC, 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 $231.27 to $232.05, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the SEC, 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 $232.27 to $233.26, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the SEC, 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 $233.32 to $234.27, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the SEC, 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 $234.34 to $234.80, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the SEC, 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 $223.10 to $224.04, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the SEC, upon request, full information regarding the number of shares sold at each price within the ranges set forth in this footnote. |
| F17 | The 20,000 shares exercised on November 12, 2025 pursuant to this option vested on February 17, 2025. Of the remaining 79,100 shares subject to this option, 29,100 shares vested on February 17, 2025 and 50,000 shares are scheduled to vest on February 17, 2026. |
| F18 | The 5,334 shares exercised on November 12, 2025 pursuant to this option vested on February 23, 2022. Of the remaining 183,998 shares subject to this option, 33,998 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. |
| F19 | The 2,600 shares exercised on November 13, 2025 pursuant to this option vested on February 23, 2022. Of the remaining 181,398 shares subject to this option, 31,398 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. |