Le Phong 4

4 · Strategy Inc · Filed Mar 19, 2026

AI-generated summary of this filing

Updated Mar 19, 2026

Strategy (MSTR) CEO Le Phong Receives Equity Awards

What Happened

Le Phong, President & CEO and a director of Strategy Inc (MSTR), was granted three equity awards on March 17, 2026: 26,105 option-type derivative shares (F1), 36,595 restricted stock units (RSUs) (F2/F3), and 20,911 performance stock units (PSUs) (F4). Each grant is reported as acquired at $0.00 on the Form 4 (aggregate shown as $0), indicating these are compensatory grants rather than open-market purchases or sales.

Key Details

Transaction date: 2026-03-17; Form 4 filed: 2026-03-19 (filed within the standard two-business-day window).
Reported amounts: 26,105 (options, F1), 36,595 RSUs (F2/F3), 20,911 PSUs (target, F4) — total 83,611 units; acquisition price listed as $0.00.
Shares owned after transaction: not specified in the provided excerpt of the filing.
Notable footnotes:
- F1: Options vest 25% after one year, then 25% each year until fully vested.
- F2/F3: Each RSU converts to one share; RSUs vest 25% after one year, then 25% annually until fully vested.
- F4: PSUs pay 0%–200% of target based on Strategy’s relative total shareholder return vs. the Nasdaq Composite over Mar 17, 2026–Mar 16, 2029; vesting subject to Compensation Committee certification and continued service.
Filing timeliness: Filed March 19 for a March 17 grant — within the usual two-business-day reporting requirement.

Context

These are compensatory grants (transaction code A) and do not represent an open-market buy or sale. The PSUs are performance-based and may result in more or fewer shares than the target depending on three-year TSR performance; RSUs convert to one share each when vested. No immediate sale or cashless exercise is indicated in this filing.

Form 4

Period: 2026-03-17

DirectorPresident & CEO

Transactions

Award
Employee Stock Option (Right to buy)
[F1]
2026-03-17+26,105→ 26,105 total
Exercise: $150.28Exp: 2036-03-17→ Class A Common Stock (26,105 underlying)
Award
Restricted Stock Units
[F2][F3]
2026-03-17+36,595→ 36,595 total
→ Class A Common Stock (36,595 underlying)
Award
Performance Stock Units
[F4]
2026-03-17+20,911→ 20,911 total
→ Class A Common Stock (20,911 underlying)

Holdings

Footnotes (4)

[F1]25 percent of the shares subject to this option vest on the first anniversary of the grant date, and an additional 25 percent of the shares originally subject to this option vest on each anniversary thereafter until the option is vested in full.
[F2]Each restricted stock unit ("RSU") represents a contingent right to receive one share of class A common stock of Strategy Inc ("Strategy").
[F3]25 percent of these RSUs vest on the first anniversary of the grant date, and an additional 25 percent of the original number of RSUs vest on each anniversary thereafter until the RSUs are vested in full.
[F4]Each performance stock unit ("PSU") represents a contingent right to receive shares of Strategy class A common stock of between 0% and 200% of the target number of units, with the percentage determined based on Strategy's relative total shareholder return ("TSR") as compared to the TSR of members of the Nasdaq Composite Index over a three-year performance period (March 17, 2026 to March 16, 2029). Vesting is subject to certification by Strategy's Compensation Committee of the level of achievement of the performance goal and the participant's continued service through that date. The "target" number of PSUs is reported on this Form 4.

Signature

/s/ Allein Sabel, Attorney-in-Fact|2026-03-19

1 file