Jeanine Montgomery - 17 Nov 2025 Form 4 Insider Report for Strategy Inc (MSTR)

Role
VP & CAO
Signature
/s/ Allein Sabel, Attorney-in-Fact
Issuer symbol
MSTR
Transactions as of
17 Nov 2025
Net transactions value
-$8,968
Form type
4
Filing time
19 Nov 2025, 16:55:57 UTC
Previous filing
29 Jul 2025
Next filing
13 Mar 2026

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Montgomery Jeanine VP & CAO C/O STRATEGY INC, 1850 TOWERS CRESCENT PLAZA, TYSONS CORNER /s/ Allein Sabel, Attorney-in-Fact 19 Nov 2025 0001444548

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MSTR Class A Common Stock Options Exercise +100 +1.2% 8,776 17 Nov 2025 Direct F1, F2
transaction MSTR Class A Common Stock Sale $8,968 -43 -0.49% $208.55 8,733 18 Nov 2025 Direct F3, F4
holding MSTR Series A Perpetual Stretch Preferred Stock 5,000 17 Nov 2025 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction MSTR Restricted Stock Units Options Exercise $0 -100 -100% $0.000000 0 17 Nov 2025 Class A Common Stock 100 Direct F1, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

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).

Explanation of Responses:

Id Content
F1 Each restricted stock unit represents a contingent right to receive one share of class A common stock of Strategy Inc ("Strategy").
F2 Includes 70 shares acquired under the Strategy Employee Stock Purchase Plan on August 29, 2025.
F3 The sale was effected pursuant to a Rule 10b5-1 instruction letter entered into on May 3, 2024 to satisfy the Reporting Person's tax withholding obligation upon the vesting of previously granted equity awards.
F4 The disposition of the shares reported on this form was made solely to permit the stockholder to pay Strategy the tax withholding obligation due upon vesting of the restricted stock units on November 15, 2025 and settlement of such restricted stock units on November 17, 2025.
F5 The 100 restricted stock units vested in full on November 15, 2025.