Strategy (MSTR)

=== SEC Form 4 — Statement of Changes in Beneficial Ownership === Document Type: 4 Period of Report: 2026-08-24 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: 2026-08-24 | Code: M (Exercise of derivative) Shares: +925 | Price: $18.24 Total Value: $16,868.30 Shares Owned After: 29,331 | Ownership: D (Direct) [Transaction #2] Security: Class A Common Stock Date: 2026-08-24 | Code: S (Open market sale) Shares: -925 | Price: $122.34 Total Value: $113,164.50 Shares Owned After: 28,406 | Ownership: D (Direct) [Transaction #3] Security: Class A Common Stock Date: 2026-08-25 | Code: M (Exercise of derivative) Shares: +925 | Price: $18.24 Total Value: $16,868.30 Shares Owned After: 29,331 | Ownership: D (Direct) [Transaction #4] Security: Class A Common Stock Date: 2026-08-25 | Code: S (Open market sale) Shares: -925 | Price: $124.00 Total Value: $114,700.00 Shares Owned After: 28,406 | Ownership: D (Direct) [Transaction #5] Security: Class A Common Stock Date: 2026-08-25 | Code: M (Exercise of derivative) Shares: +925 | Price: $18.24 Total Value: $16,868.30 Shares Owned After: 29,331 | Ownership: D (Direct) [Transaction #6] Security: Class A Common Stock Date: 2026-08-25 | Code: S (Open market sale) Shares: -925 | Price: $125.00 Total Value: $115,625.00 Shares Owned After: 28,406 | Ownership: D (Direct) [Transaction #7] Security: Class A Common Stock Date: 2026-08-25 | Code: M (Exercise of derivative) Shares: +925 | Price: $18.24 Total Value: $16,868.30 Shares Owned After: 29,331 | Ownership: D (Direct) [Transaction #8] Security: Class A Common Stock Date: 2026-08-25 | Code: S (Open market sale) Shares: -925 | Price: $127.00 Total Value: $117,475.00 Shares Owned After: 28,406 | Ownership: D (Direct) --- Derivative Transactions --- [Transaction #1] Security: Director Stock Option (Right to buy) Date: 2026-08-24 | Code: M (Exercise of derivative) Shares: -925 | Price: $0.00 Exercise Price: $18.24 Exercisable: N/A | Expires: 2027-05-31 Shares Owned After: 31,375 | Ownership: D (Direct) Footnotes: [F1] The 925 shares exercised on August 24, 2026 pursuant to this option vested on May 31, 2019. Of the remaining 31,375 shares pursuant to this option, 6,375 shares vested on May 31, 2019, 12,500 shares vested on May 31, 2020, and 12,500 shares vested on May 31, 2021. [Transaction #2] Security: Director Stock Option (Right to buy) Date: 2026-08-25 | Code: M (Exercise of derivative) Shares: -2,775 | Price: $0.00 Exercise Price: $18.24 Exercisable: N/A | Expires: 2027-05-31 Shares Owned After: 28,600 | Ownership: D (Direct) Footnotes: [F2] The 2,775 shares exercised on August 25, 2026 pursuant to this option vested on May 31, 2019. Of the remaining 28,600 shares pursuant to this option, 3,600 shares vested on May 31, 2019, 12,500 shares vested on May 31, 2020, and 12,500 shares vested on May 31, 2021. --- 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 925 shares exercised on August 24, 2026 pursuant to this option vested on May 31, 2019. Of the remaining 31,375 shares pursuant to this option, 6,375 shares vested on May 31, 2019, 12,500 shares vested on May 31, 2020, and 12,500 shares vested on May 31, 2021. F2: The 2,775 shares exercised on August 25, 2026 pursuant to this option vested on May 31, 2019. Of the remaining 28,600 shares pursuant to this option, 3,600 shares vested on May 31, 2019, 12,500 shares vested on May 31, 2020, and 12,500 shares vested on May 31, 2021. --- Signature --- /s/ /s/ Allein Sabel, Attorney-in-Fact (2026-08-26)