Le Phong 4
4 · Strategy Inc · Filed Mar 25, 2026
Research Summary
AI-generated summary of this filing
Strategy Inc (MSTR) CEO Le Phong Sells Shares After RSU Vesting
What Happened
Le Phong, President & CEO and a director of Strategy Inc (MSTR), had 7,320 restricted stock units (RSUs) settle/convert into 7,320 shares on March 23, 2026 (reported as an exercise/conversion of a derivative). On March 24, 2026 he sold 3,299 of those shares in open-market transactions for a total of $456,363 (three blocks: 1,753 shares for $241,441; 1,410 shares for $195,956; 136 shares for $18,966). The conversion of RSUs into shares had no exercise cost ($0.00 reported). These sales were effected to satisfy tax-withholding obligations.
Key Details
- Transaction dates: RSU settlement/conversion 2026-03-23; sales 2026-03-24; filing date 2026-03-25 (appears timely).
- Sale detail: 3,299 shares disposed; weighted-average prices reported (per footnotes) with trade price ranges: $137.370–$139.550 across the lots. Total proceeds reported: $456,363.
- RSU conversion: 7,320 shares acquired on settlement (reported as derivative exercise/conversion, code M) at $0.00.
- Shares owned after transaction: not specified in the excerpted data of this filing.
- Notable footnotes: F1 explains each RSU equals one share; F2 states the sales were made under a Rule 10b5-1 plan (entered May 7, 2024) solely to pay tax withholding on the vested RSUs; F3–F5 give price ranges and that the reported prices are weighted averages. F6: 14,640 remaining RSUs vest in equal annual installments (7,320 on March 21, 2027 and 7,320 on March 21, 2028).
Context
This was an RSU settlement followed by partial disposition to cover tax obligations — a routine, non-speculative tax-withholding sale under a pre-established 10b5-1 plan rather than an open-ended directional bet. The derivative code (M) indicates conversion/exercise of a derivative (here, RSU settlement). Purchases would generally be more notable as a bullish signal; these proceeds-only sales reflect tax-related liquidity needs.
Insider Transaction Report
- Exercise/Conversion
Class A Common Stock
[F1]2026-03-23+7,320→ 26,222 total - Sale
Class A Common Stock
[F2][F3]2026-03-24$137.73/sh−1,753$241,441→ 24,469 total - Sale
Class A Common Stock
[F2][F4]2026-03-24$138.98/sh−1,410$195,956→ 23,059 total - Sale
Class A Common Stock
[F2][F5]2026-03-24$139.45/sh−136$18,966→ 22,923 total - Exercise/Conversion
Restricted Stock Units
[F1][F6]2026-03-23+7,320→ 14,640 total→ Class A Common Stock (7,320 underlying)
- 6,000
Series A Perpetual Strife Preferred Stock
- 8,009
Series A Perpetual Stretch Preferred Stock
- 71(indirect: By Children)
Series A Perpetual Stretch Preferred Stock
- 32(indirect: By Children)
Series A Perpetual Stretch Preferred Stock
- 28(indirect: By Children)
Series A Perpetual Stretch Preferred Stock
- 4,500
Series A Perpetual Stride Preferred Stock
Footnotes (6)
- [F1]Each restricted stock unit represents a contingent right to receive one share of class A common stock of Strategy Inc ("Strategy").
- [F2]The sales were effected pursuant to a Rule 10b5-1 instruction letter entered into on May 7, 2024 to satisfy the reporting person's tax withholding obligation due upon the vesting of previously granted equity awards. Such sale was made solely to pay Strategy the tax withholding obligation due upon the vesting of restricted stock units on March 21, 2026 and their settlement on March 23, 2026.
- [F3]The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $137.370 to $138.350, 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.
- [F4]The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $138.390 to $139.380, 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.
- [F5]The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $139.385 to $139.550, 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.
- [F6]The remaining 14,640 RSUs will vest in equal annual installments over a two-year period, with 7,320 RSUs vesting on March 21, 2027 and 7,320 RSUs vesting on March 21, 2028.