Director Jarrod M. Patten filed a Form 4 with the SEC on November 4, 2026, disclosing the exercise of 950 stock options and the same-day sale of 950 shares of Strategy Inc Class A Common Stock on November 3, 2026.

Key Highlights

  • Option exercise: Patten exercised 950 Director Stock Options on November 3, 2026, at an exercise price of $18.236 per share, acquiring 950 shares of Class A Common Stock.
  • Share sale: The same day, 950 shares of Class A Common Stock were disposed of at $136.04 per share.
  • Remaining beneficial ownership: Following the transactions, Patten directly held 28,406 shares of Class A Common Stock.
  • Remaining options: Patten retains 21,150 Director Stock Options with an exercise price of $18.236 and an expiration date of May 31, 2027, according to the filing.
  • Preferred stock holdings: The filing also reports direct holdings of 10,000 shares of Series A Perpetual Strife Preferred Stock, 29,335 shares of Series A Perpetual Stretch Preferred Stock, and 5,000 shares of Series A Perpetual Stride Preferred Stock.
  • Vesting note: According to the filing, the 950 shares exercised had vested on May 31, 2020; of the remaining 21,150 option shares, 8,650 vested on May 31, 2020, and 12,500 vested on May 31, 2021.

Strategy Inc Director Patten Reports Option Exercise and Stock Sale on November 3, 2026

According to the Form 4 filed on November 4, 2026, Jarrod M. Patten, a director of Strategy Inc (NASDAQ:MSTR), reported two transactions in Class A Common Stock on November 3, 2026. The first was the exercise of 950 Director Stock Options at a conversion price of $18.236 per share, coded as transaction type "M" (exercise of an in-the-money or at-the-money derivative), which resulted in an acquisition of 950 shares.

Immediately following the exercise, the filing discloses a same-day sale of 950 shares of Class A Common Stock at $136.04 per share, coded as transaction type "S." After both transactions, Patten's direct beneficial ownership of Class A Common Stock stood at 28,406 shares, the filing states. Prior to the sale, the post-exercise total was reported as 29,356 shares.

The filing also lists Patten's direct holdings in three classes of preferred stock: 10,000 shares of Series A Perpetual Strife Preferred Stock, 29,335 shares of Series A Perpetual Stretch Preferred Stock, and 5,000 shares of Series A Perpetual Stride Preferred Stock. These preferred share positions are reported with no transactions noted against them. The remaining 21,150 Director Stock Options carry an exercise price of $18.236 and expire May 31, 2027. The filing was signed by Allein Sabel as Attorney-in-Fact on November 4, 2026.

What Was Disclosed

Director Jarrod M. Patten of Strategy Inc disclosed the exercise of 950 stock options at $18.236 and the sale of 950 Class A Common Stock shares at $136.04 on November 3, 2026, leaving him with 28,406 shares directly held and 21,150 options remaining.