Shao Wei-Ming's Form 4 filing
Strategy Inc (MSTR) · filed Nov 14, 2025
- Accession no.
- 0001193125-25-282918
- Filed
- Nov 14, 2025
- Trade date
- Nov 12-13, 2025
- Filing delay
- 2 days
- Rule 10b5-1 plan
- Checked
This filing lists 18 non-derivative transactions and 3 derivative transactions. Open-market sales total $1.79M. It was filed 2 days after the trade.
Reporting owners
A Form 4 can have several reporting owners, such as a person and a fund they control. Trade tables show the first one.
| Owner | Relationship to the company |
|---|---|
| Shao Wei-MingCIK 0001663488 | Officer (EVP & General Counsel) |
Non-derivative securities (Table I)
Acquisitions and disposals of common stock and similar shares, one row per line on the filing.
| Trade date | Security | Transaction | Shares | Price | Value | Shares after | Ownership | Flags |
|---|---|---|---|---|---|---|---|---|
| Nov 12, 2025 | Class A Common Stock | MOption exerciseAcquired | +20,000 | $40.46 | +$809,200 | 32,726 | Direct | |
| Nov 12, 2025 | Class A Common Stock | MOption exerciseAcquired | +5,334 | $69.12 | +$368,686.08 | 38,060 | Direct | |
| Nov 12, 2025 | Class A Common Stock | SSaleDisposed | −309 | $220.62F2 | −$68,171.58 | 37,751 | Direct | |
| Nov 12, 2025 | Class A Common Stock | SSaleDisposed | −511 | $221.90F3 | −$113,390.9 | 37,240 | Direct | |
| Nov 12, 2025 | Class A Common Stock | SSaleDisposed | −629 | $222.92F4 | −$140,216.68 | 36,611 | Direct | |
| Nov 12, 2025 | Class A Common Stock | SSaleDisposed | −727 | $224.06F5 | −$162,891.62 | 35,884 | Direct | |
| Nov 12, 2025 | Class A Common Stock | SSaleDisposed | −853 | $224.77F6 | −$191,728.81 | 35,031 | Direct | |
| Nov 12, 2025 | Class A Common Stock | SSaleDisposed | −342 | $226.00F7 | −$77,292 | 34,689 | Direct | |
| Nov 12, 2025 | Class A Common Stock | SSaleDisposed | −455 | $227.02F8 | −$103,294.1 | 34,234 | Direct | |
| Nov 12, 2025 | Class A Common Stock | SSaleDisposed | −111 | $227.89F9 | −$25,295.79 | 34,123 | Direct | |
| Nov 12, 2025 | Class A Common Stock | SSaleDisposed | −48 | $229.20F10 | −$11,001.6 | 34,075 | Direct | |
| Nov 12, 2025 | Class A Common Stock | SSaleDisposed | −198 | $230.44F11 | −$45,627.12 | 33,877 | Direct | |
| Nov 12, 2025 | Class A Common Stock | SSaleDisposed | −187 | $231.70F12 | −$43,327.9 | 33,690 | Direct | |
| Nov 12, 2025 | Class A Common Stock | SSaleDisposed | −348 | $232.96F13 | −$81,070.08 | 33,342 | Direct | |
| Nov 12, 2025 | Class A Common Stock | SSaleDisposed | −490 | $233.76F14 | −$114,542.4 | 32,852 | Direct | |
| Nov 12, 2025 | Class A Common Stock | SSaleDisposed | −126 | $234.43F15 | −$29,538.18 | 32,726 | Direct | |
| Nov 13, 2025 | Class A Common Stock | MOption exerciseAcquired | +2,600 | $69.12 | +$179,712 | 35,326 | Direct | |
| Nov 13, 2025 | Class A Common Stock | SSaleDisposed | −2,600 | $223.67F16 | −$581,542 | 32,726 | Direct |
Derivative securities (Table II)
Options, warrants, restricted stock units and similar. Shares are the underlying shares; price and value are for the derivative itself, and the holding after is in derivative units.
| Trade date | Security | Transaction | Underlying shares | Unit price | Value | Held after | Ownership | Flags |
|---|---|---|---|---|---|---|---|---|
| Nov 12, 2025 | Class A Common Stock | MOption exerciseDisposed | −20,000 | $0.00 | $0 | 79,100 | Direct | |
| Nov 12, 2025 | Class A Common Stock | MOption exerciseDisposed | −5,334 | $0.00 | $0 | 183,998 | Direct | |
| Nov 13, 2025 | Class A Common Stock | MOption exerciseDisposed | −2,600 | $0.00 | $0 | 181,398 | Direct |
Footnotes and remarks
Livermore keeps the footnotes that transaction prices refer to, all footnotes of amendments (Form 4/A) and the filing's remarks. Other footnotes, such as how indirect holdings are held or the details of a trading plan, are only in the original on SEC EDGAR.
- F2
The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $220.235 to $221.115, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the SEC, upon request, full information regarding the number of shares sold at each price within the ranges set forth in this footnote.
Referenced by the price of 1 transaction in Table I.
- F3
The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $221.37 to $222.240, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the SEC, upon request, full information regarding the number of shares sold at each price within the ranges set forth in this footnote.
Referenced by the price of 1 transaction in Table I.
- F4
The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $222.430 to $223.426, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the SEC, upon request, full information regarding the number of shares sold at each price within the ranges set forth in this footnote.
Referenced by the price of 1 transaction in Table I.
- F5
The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $223.446 to $224.415, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the SEC, upon request, full information regarding the number of shares sold at each price within the ranges set forth in this footnote.
Referenced by the price of 1 transaction in Table I.
- F6
The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $224.45 to $225.448, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the SEC, upon request, full information regarding the number of shares sold at each price within the ranges set forth in this footnote.
Referenced by the price of 1 transaction in Table I.
- F7
The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $225.505 to $226.460, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the SEC, upon request, full information regarding the number of shares sold at each price within the ranges set forth in this footnote.
Referenced by the price of 1 transaction in Table I.
- F8
The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $226.56 to $227.50, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the SEC, upon request, full information regarding the number of shares sold at each price within the ranges set forth in this footnote.
Referenced by the price of 1 transaction in Table I.
- F9
The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $227.665 to $228.03, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the SEC, upon request, full information regarding the number of shares sold at each price within the ranges set forth in this footnote.
Referenced by the price of 1 transaction in Table I.
- F10
The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $228.81 to $229.77, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the SEC, upon request, full information regarding the number of shares sold at each price within the ranges set forth in this footnote.
Referenced by the price of 1 transaction in Table I.
- F11
The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $230.02 to $231.00, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the SEC, upon request, full information regarding the number of shares sold at each price within the ranges set forth in this footnote.
Referenced by the price of 1 transaction in Table I.
- F12
The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $231.27 to $232.05, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the SEC, upon request, full information regarding the number of shares sold at each price within the ranges set forth in this footnote.
Referenced by the price of 1 transaction in Table I.
- F13
The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $232.27 to $233.26, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the SEC, upon request, full information regarding the number of shares sold at each price within the ranges set forth in this footnote.
Referenced by the price of 1 transaction in Table I.
- F14
The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $233.32 to $234.27, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the SEC, upon request, full information regarding the number of shares sold at each price within the ranges set forth in this footnote.
Referenced by the price of 1 transaction in Table I.
- F15
The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $234.34 to $234.80, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the SEC, upon request, full information regarding the number of shares sold at each price within the ranges set forth in this footnote.
Referenced by the price of 1 transaction in Table I.
- F16
The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $223.10 to $224.04, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the SEC, upon request, full information regarding the number of shares sold at each price within the ranges set forth in this footnote.
Referenced by the price of 1 transaction in Table I.