Patten Jarrod M 4
4 · Strategy Inc · Filed Jun 1, 2026
Research Summary
AI-generated summary of this filing
Strategy Inc (MSTR) Director Jarrod Patten Exercises Options & Sells Shares
What Happened
Jarrod M. Patten, a director of Strategy Inc (ticker MSTR), exercised stock options on May 28–29, 2026 (22,300 shares total) and sold the same 22,300 shares in open‑market transactions. He paid about $414,208 to exercise the options (exercise prices $18.24–$18.65) and received gross proceeds of approximately $3,402,893 from the sales. The trades were reported on a Form 4 filed June 1, 2026.
Key Details
- Transactions and cash flow:
- Exercised/options acquired: 22,300 shares total (7,250 on 5/28 @ $18.65; 10,800 on 5/29 @ $18.65; 4,250 on 5/29 @ $18.24) — cash paid ≈ $414,208.
- Open‑market sales: 22,300 shares sold across 5/28–5/29 at prices ranging roughly $145.28–$162.00 — gross proceeds ≈ $3,402,893.
- Net effect: No net increase in beneficial ownership from these transactions (22,300 exercised and 22,300 sold).
- Footnotes of interest:
- Sales reported with weighted‑average prices and price ranges (F1–F3); reporting person offers to provide per‑trade details on request.
- Vesting history (F4–F6) shows the exercised options vested in prior years (2018–2021), i.e., these were previously vested options, not new grants.
- Codes: M = exercise/conversion of derivative (options); S = open market sale.
- Timeliness: Form 4 filed June 1, 2026. For the May 28–29 transactions, the filing appears timely (within the Form 4 reporting window).
Context
Because the number of shares exercised equals the number sold, this is effectively a cashless exercise/sale: options were converted into shares and those shares were sold (common when exercising vested options to cover costs or realize gains). These were vested options (per footnotes), so the trades reflect monetizing existing option holdings rather than receiving new awards. This is a factual report of transactions and should not be interpreted as a statement about the company’s prospects.
Insider Transaction Report
- Exercise/Conversion
Class A Common Stock
2026-05-28$18.65/sh+7,250$135,242→ 35,250 total - Sale
Class A Common Stock
[F1]2026-05-28$145.56/sh−3,250$473,080→ 32,000 total - Sale
Class A Common Stock
2026-05-28$147.00/sh−1,000$147,000→ 31,000 total - Sale
Class A Common Stock
2026-05-28$149.00/sh−1,000$149,000→ 30,000 total - Sale
Class A Common Stock
2026-05-28$150.00/sh−1,000$150,000→ 29,000 total - Sale
Class A Common Stock
2026-05-28$152.00/sh−1,000$152,000→ 28,000 total - Exercise/Conversion
Class A Common Stock
2026-05-29$18.65/sh+10,800$201,463→ 38,800 total - Sale
Class A Common Stock
[F2]2026-05-29$150.85/sh−4,250$641,134→ 34,550 total - Sale
Class A Common Stock
2026-05-29$155.00/sh−550$85,250→ 34,000 total - Sale
Class A Common Stock
2026-05-29$152.00/sh−2,000$304,000→ 32,000 total - Sale
Class A Common Stock
2026-05-29$153.00/sh−2,000$306,000→ 30,000 total - Sale
Class A Common Stock
2026-05-29$154.00/sh−2,000$308,000→ 28,000 total - Exercise/Conversion
Class A Common Stock
2026-05-29$18.24/sh+4,250$77,503→ 32,250 total - Sale
Class A Common Stock
[F3]2026-05-29$161.75/sh−4,250$687,429→ 28,000 total - Exercise/Conversion
Director Stock Option (Right to buy)
[F4]2026-05-28−7,250→ 10,800 totalExercise: $18.65Exp: 2026-05-31→ Class A Common Stock (7,250 underlying) - Exercise/Conversion
Director Stock Option (Right to buy)
[F5]2026-05-29−10,800→ 0 totalExercise: $18.65Exp: 2026-05-31→ Class A Common Stock (10,800 underlying) - Exercise/Conversion
Director Stock Option (Right to buy)
[F6]2026-05-29−4,250→ 45,750 totalExercise: $18.24Exp: 2027-05-31→ Class A Common Stock (4,250 underlying)
- 10,000
Series A Perpetual Strife Preferred Stock
- 29,335
Series A Perpetual Stretch Preferred Stock
- 5,000
Series A Perpetual Stride Preferred Stock
Footnotes (6)
- [F1]The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $145.280 to $146.200, inclusive. The reporting person undertakes to provide to Strategy Inc ("Strategy"), any security holder of Strategy, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the range set forth in this footnote.
- [F2]The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $150.620 to $151.120, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the range 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 $161.610 to $162.000, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the range set forth in this footnote.
- [F4]Of the shared exercised on May 28, 2026 pursuant to this option, 5,550 shares vested on May 31, 2019 and 1,700 shares vested on May 31, 2020. The remaining 10,800 shares vested on May 31, 2020.
- [F5]The 10,800 shares exercised on May 29, 2026 pursuant to this option vested on May 31, 2020.
- [F6]The 4,250 shares exercised on May 29, 2026 pursuant to this option vested on May 31, 2018. Of the remaining 45,750 shares pursuant to this option, 8,250 shares vested on May 31, 2018, 12,500 shares vested on May 31, 2019, 12,500 shares vested on May 31, 2020, and 12,500 shares vested on May 31, 2021.