Le Phong 4

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.