Strategy (MSTR)

=== SEC Form 4 — Statement of Changes in Beneficial Ownership === Document Type: 4 Period of Report: 2026-05-14 10b5-1 Pre-arranged Plan: No --- Issuer --- Name: Strategy Inc (MSTR) CIK: 0001050446 --- Reporting Owner --- Name: Patten Jarrod M CIK: 0001309191 Role: Director --- Non-Derivative Transactions --- [Transaction #1] Security: Class A Common Stock Date: 2026-05-14 | Code: M (Exercise of derivative) Shares: +1,000 | Price: $18.65 Total Value: $18,654.00 Shares Owned After: 29,000 | Ownership: D (Direct) [Transaction #2] Security: Class A Common Stock Date: 2026-05-14 | Code: S (Open market sale) Shares: -1,000 | Price: $190.28 Total Value: $190,280.00 Shares Owned After: 28,000 | Ownership: D (Direct) [Transaction #3] Security: Class A Common Stock Date: 2026-05-14 | Code: M (Exercise of derivative) Shares: +500 | Price: $18.65 Total Value: $9,327.00 Shares Owned After: 28,500 | Ownership: D (Direct) [Transaction #4] Security: Class A Common Stock Date: 2026-05-14 | Code: S (Open market sale) Shares: -500 | Price: $192.00 Total Value: $96,000.00 Shares Owned After: 28,000 | Ownership: D (Direct) --- Derivative Transactions --- [Transaction #1] Security: Director Stock Option (Right to buy) Date: 2026-05-14 | Code: M (Exercise of derivative) Shares: -1,000 | Price: $0.00 Exercisable: N/A | Expires: 2026-05-31 Shares Owned After: 25,050 | Ownership: D (Direct) Footnotes: [F1] The 1,000 shares exercised on May 14, 2026 pursuant to this option vested on May 31, 2018. Of the remaining 25,050 shares subject to this option, 50 shares vested on May 31, 2018, 12,500 shares vested on May 31, 2019, and 12,500 shares vested on May 31, 2020. [Transaction #2] Security: Director Stock Option (Right to buy) Date: 2026-05-14 | Code: M (Exercise of derivative) Shares: -500 | Price: $0.00 Exercisable: N/A | Expires: 2026-05-31 Shares Owned After: 24,550 | Ownership: D (Direct) Footnotes: [F2] Of the 500 shared exercised on May 14, 2026 pursuant to this option, 50 shares vested on May 31, 2018 and 450 shares vested on May 31, 2019. Of the remaining 24,550 share subject to this option, 12,050 shares vested on May 31, 2019, and 12,500 shares vested on May 31, 2020. --- Holdings --- [Holding #1] Security: Series A Perpetual Strife Preferred Stock Ownership: D (Direct) [Holding #2] Security: Series A Perpetual Stretch Preferred Stock Ownership: D (Direct) [Holding #3] Security: Series A Perpetual Stride Preferred Stock Ownership: D (Direct) --- Footnotes (Complete Index) --- F1: The 1,000 shares exercised on May 14, 2026 pursuant to this option vested on May 31, 2018. Of the remaining 25,050 shares subject to this option, 50 shares vested on May 31, 2018, 12,500 shares vested on May 31, 2019, and 12,500 shares vested on May 31, 2020. F2: Of the 500 shared exercised on May 14, 2026 pursuant to this option, 50 shares vested on May 31, 2018 and 450 shares vested on May 31, 2019. Of the remaining 24,550 share subject to this option, 12,050 shares vested on May 31, 2019, and 12,500 shares vested on May 31, 2020. --- Signature --- /s/ /s/ Allein Sabel, Attorney-in-Fact (2026-05-18)