Director Jarrod M. Patten filed a Form 4 with the SEC on September 23, 2026, reporting the exercise of 475 stock options and an immediate sale of 475 shares of Class A Common Stock in Strategy Inc on September 22, 2026.

Key Highlights

  • Option exercise: Patten exercised 475 Director Stock Options (transaction code M) on September 22, 2026 at an exercise price of $18.236 per share, acquiring 475 shares of Class A Common Stock.
  • Same-day sale: All 475 acquired shares were sold (transaction code S) on September 22, 2026 at $171 per share.
  • Post-transaction ownership: Following the reported transactions, Patten directly owns 28,406 shares of Class A Common Stock.
  • Remaining options: 24,850 Director Stock Options remain beneficially owned directly by Patten, with an expiration date of May 31, 2027, at an exercise price of $18.236.
  • Preferred stock holdings: Patten also holds 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, all directly owned.
  • Vesting detail: According to the filing, of the 475 shares exercised, 325 vested on May 31, 2019, and 150 vested on May 31, 2020.

Patten's Option Exercise and Share Sale at Strategy Inc

According to the filing, Jarrod M. Patten, a director at Strategy Inc (NASDAQ:MSTR), exercised 475 Director Stock Options on September 22, 2026, at an exercise price of $18.236 per share. The options underlying the exercise carried an expiration date of May 31, 2027. The filing notes that of the 475 shares exercised, 325 had vested on May 31, 2019, and the remaining 150 had vested on May 31, 2020.

On the same date, Patten disposed of all 475 newly acquired Class A Common Stock shares at a price of $171 per share. Following these two transactions, the filing reports that Patten directly holds 28,406 shares of Class A Common Stock. An additional 24,850 Director Stock Options remain outstanding under the same option grant, with 12,350 shares having vested on May 31, 2020, and 12,500 shares having vested on May 31, 2021, according to the filing's explanation of responses.

The filing also discloses that Patten holds three classes of preferred stock directly: 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. The Form 4 was signed by Allein Sabel as Attorney-in-Fact on September 23, 2026.

What Was Disclosed

The filing reports a same-day option exercise and share sale by Strategy Inc director Jarrod M. Patten on September 22, 2026, covering 475 shares of Class A Common Stock, with resulting direct ownership of 28,406 Class A shares and 24,850 remaining options.