Patten Jarrod M 4

What Happened
Jarrod M. Patten, a director of Strategy Inc. (MSTR), exercised 1,500 stock options on June 15, 2026 (exercise price reported at $18.24 per share; total reported cost $27,354) and sold 1,500 shares in an open-market transaction the same day at a weighted average price of $133.97, generating gross proceeds of about $200,951. The Form 4 also shows the derivative instrument related to those options was converted/terminated (reported disposition at $0.00) as part of the exercise.

Key Details

• Transaction date: June 15, 2026 (Form filed June 17, 2026 — appears timely).
• Exercise: 1,500 options exercised at $18.24/share (reported total $27,354).
• Sale: 1,500 shares sold in open market at weighted avg $133.97/share; total proceeds ~$200,951. Reported sale prices ranged $133.950–$134.030 (footnote F1).
• Derivative note: a related derivative conversion/disposition reported at $0.00 (option converted to shares).
• Vesting note (footnote F2): the 1,500 shares exercised vested May 31, 2018; additional vesting schedule for remaining option shares is listed in the filing.
• Shares owned after transaction: not disclosed in the information provided.

Context
Because the shares were exercised and sold the same day, this is effectively a cashless exercise with immediate sale of the acquired shares. This is a common liquidity/tax-management action by insiders and does not by itself indicate company outlook. All details above are taken from the Form 4 disclosure (Accession 0001309191-26-000027).