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Strategy Inc·4

Mar 25, 8:28 PM ET

Kang Andrew 4

Research Summary

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Updated

Strategy (MSTR) EVP & CFO Andrew Kang Sells Shares After RSU Settlement

What Happened
Andrew Kang, EVP & CFO of Strategy Inc. (MSTR), had restricted stock units (RSUs) settle into common shares on March 23, 2026 (conversion/exercise of derivative). 5,330 shares were acquired on settlement (reported with $0.00 cash cost). Following the settlement, Kang sold 2,373 shares on March 24, 2026 in open-market transactions for total proceeds of about $328,266. These sales were made pursuant to a pre-established Rule 10b5-1 plan to satisfy the tax-withholding obligation related to the RSU vesting.

Key Details

  • Transactions:
    • 2026-03-23: Conversion/settlement of 5,330 RSUs into 5,330 shares (derivative exercise/settlement; $0.00 reported cash price).
    • 2026-03-24: Three open-market sales totaling 2,373 shares for aggregate proceeds of ~$328,266:
      • 1,261 shares — weighted avg price $137.73 (range $137.370–$138.350)
      • 1,014 shares — weighted avg price $138.98 (range $138.390–$139.380)
      • 98 shares — weighted avg price $139.45 (range $139.385–$139.550)
  • Purpose: Sales effected under a Rule 10b5-1 instruction to satisfy tax withholding on the RSU vesting (footnote F2).
  • Remaining awards: Footnote F6 notes 10,650 RSUs remain and will vest in equal annual installments (5,320 on 3/21/2027; 5,330 on 3/21/2028).
  • Shares owned after the transactions: Not provided in the supplied filing data.
  • Filing timeliness: Form 4 was filed on 2026-03-25; this appears to be within the standard two-business-day reporting window for the March 23–24 transactions.

Context

  • These transactions reflect RSU settlement and routine tax-withholding sales (common for equity compensation). The derivative/settlement entry indicates Kang received shares from vested RSUs rather than purchasing shares on the open market.
  • Sales under a 10b5-1 plan are pre-arranged and typically routine (used to cover tax obligations), and do not necessarily indicate a change in insider sentiment.
  • For more granular per-price details of the multiple-sale executions, the filer has offered to provide transaction-by-transaction breakdowns on request (see footnotes F3–F5).