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Form 4 Strategy Inc For: May 28 Filed by: Patten Jarrod M

June 1, 2026 5:51 PM
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person *
Patten Jarrod M
(Last) (First) (Middle)
C/O STRATEGY INC
1850 TOWERS CRESCENT PLAZA
(Street)
TYSONS CORNER VA 22182
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Strategy Inc [ MSTR ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
05/28/2026
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Class A Common Stock 05/28/2026 M 7,250 A $ 18.654 35,250 D
Class A Common Stock 05/28/2026 S 3,250 D $ 145.563 (1) 32,000 D
Class A Common Stock 05/28/2026 S 1,000 D $ 147 31,000 D
Class A Common Stock 05/28/2026 S 1,000 D $ 149 30,000 D
Class A Common Stock 05/28/2026 S 1,000 D $ 150 29,000 D
Class A Common Stock 05/28/2026 S 1,000 D $ 152 28,000 D
Class A Common Stock 05/29/2026 M 10,800 A $ 18.654 38,800 D
Class A Common Stock 05/29/2026 S 4,250 D $ 150.855 (2) 34,550 D
Class A Common Stock 05/29/2026 S 550 D $ 155 34,000 D
Class A Common Stock 05/29/2026 S 2,000 D $ 152 32,000 D
Class A Common Stock 05/29/2026 S 2,000 D $ 153 30,000 D
Class A Common Stock 05/29/2026 S 2,000 D $ 154 28,000 D
Class A Common Stock 05/29/2026 M 4,250 A $ 18.236 32,250 D
Class A Common Stock 05/29/2026 S 4,250 D $ 161.748 (3) 28,000 D
Series A Perpetual Strife Preferred Stock 10,000 D
Series A Perpetual Stretch Preferred Stock 29,335 D
Series A Perpetual Stride Preferred Stock 5,000 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Director Stock Option (Right to buy) $ 18.654 05/28/2026 M 7,250 (4) 05/31/2026 Class A Common Stock 7,250 $ 0 10,800 D
Director Stock Option (Right to buy) $ 18.654 05/29/2026 M 10,800 (5) 05/31/2026 Class A Common Stock 10,800 $ 0 0 D
Director Stock Option (Right to buy) $ 18.236 05/29/2026 M 4,250 (6) 05/31/2027 Class A Common Stock 4,250 $ 0 45,750 D
Explanation of Responses:
1. 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.
2. 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.
3. 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.
4. 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.
5. The 10,800 shares exercised on May 29, 2026 pursuant to this option vested on May 31, 2020.
6. 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.
/s/ Allein Sabel, Attorney-in-Fact 06/01/2026
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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