Strategy (MSTR)

=== SEC Form 4 — Statement of Changes in Beneficial Ownership === Document Type: 4 Period of Report: 2026-05-08 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: 2026-05-08 | 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: 2026-05-08 | Code: S (Open market sale) Shares: -1,000 | Price: $186.69 Total Value: $186,685.00 Shares Owned After: 28,000 | Ownership: D (Direct) [Transaction #3] Security: Class A Common Stock Date: 2026-05-11 | Code: M (Exercise of derivative) Shares: +2,750 | Price: $18.65 Total Value: $51,298.50 Shares Owned After: 30,750 | Ownership: D (Direct) [Transaction #4] Security: Class A Common Stock Date: 2026-05-11 | Code: S (Open market sale) Shares: -500 | Price: $189.38 Total Value: $94,690.00 Shares Owned After: 30,250 | Ownership: D (Direct) [Transaction #5] Security: Class A Common Stock Date: 2026-05-11 | Code: S (Open market sale) Shares: -500 | Price: $190.00 Total Value: $95,000.00 Shares Owned After: 29,750 | Ownership: D (Direct) [Transaction #6] Security: Class A Common Stock Date: 2026-05-11 | Code: S (Open market sale) Shares: -500 | Price: $194.00 Total Value: $97,000.00 Shares Owned After: 29,250 | Ownership: D (Direct) [Transaction #7] Security: Class A Common Stock Date: 2026-05-11 | Code: S (Open market sale) Shares: -500 | Price: $196.00 Total Value: $98,000.00 Shares Owned After: 28,750 | Ownership: D (Direct) [Transaction #8] Security: Class A Common Stock Date: 2026-05-11 | Code: S (Open market sale) Shares: -750 | Price: $189.59 Total Value: $142,196.25 Shares Owned After: 28,000 | Ownership: D (Direct) --- Derivative Transactions --- [Transaction #1] Security: Director Stock Option (Right to buy) Date: 2026-05-08 | Code: M (Exercise of derivative) Shares: -1,000 | Price: $0.00 Exercisable: N/A | Expires: 2026-05-31 Shares Owned After: 28,800 | Ownership: D (Direct) Footnotes: [F1] The 1,000 shares exercised on May 8, 2026 pursuant to this option vested on May 31, 2018. Of the remaining 28,800 shares subject to this option, 3,800 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: 2026-05-11 | Code: M (Exercise of derivative) Shares: -2,750 | Price: $0.00 Exercisable: N/A | Expires: 2026-05-31 Shares Owned After: 26,050 | Ownership: D (Direct) Footnotes: [F2] The 2,750 shares exercised on May 8, 2026 pursuant to this option vested on May 31, 2018. Of the remaining 26,050 shares subject to this option, 1,050 shares vested on May 31, 2018, 12,500 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 8, 2026 pursuant to this option vested on May 31, 2018. Of the remaining 28,800 shares subject to this option, 3,800 shares vested on May 31, 2018, 12,500 shares vested on May 31, 2019, and 12,500 shares vested on May 31, 2020. F2: The 2,750 shares exercised on May 8, 2026 pursuant to this option vested on May 31, 2018. Of the remaining 26,050 shares subject to this option, 1,050 shares vested on May 31, 2018, 12,500 shares vested on May 31, 2019, and 12,500 shares vested on May 31, 2020. --- Signature --- /s/ /s/ Allein Sabel, Attorney-in-Fact (2026-05-12)