Company: MSTR
Filing Date: 2025-01-21
Form Type: 8-K
Source: 0001193125-25-009102
Chunk: 1

Company: Strategy Inc
Filing Date: 2025-01-21
Form: 8-K
Item: Item 7.01
Chunk 1
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Item 7.01      Regulation FD Disclosure.  

BTC Yield KPI

From January 1, 2025 to January 20, 2025, the Company’s BTC Yield was 1.69%.

BTC Yield is a key performance indicator (“ KPI”) that represents the percentage change period-to-period ofthe ratio between the Company’s bitcoin holdings and its Assumed Diluted Shares Outstanding. Assumed Diluted Shares Outstanding refers to the aggregate of the Company’s actual shares of common stock outstanding as of the end of the applicable period plus all additional shares that would result from the assumed conversion of all outstanding convertible notes, exercise of all outstanding stock option awards, and settlement of all outstanding restricted stock units and performance stock units. The Company uses BTC Yield as a KPI to help assess the performance of its strategy of acquiring bitcoin in a manner the Company believes is accretive to shareholders. The Company believes this KPI can be used to supplement an investor’s understanding of the Company’s decision to fund the purchase of bitcoin by issuing additional shares of its common stock or instruments convertible to common stock.

BTC Yield and Basic and Assumed Diluted Shares Outstanding

  Total Bitcoin Holdings             447,470      461,000  
  Shares Outstanding (in ‘000s)                            
  Class A                            226,138      229,932  
  Class B                             19,640       19,640  
  Basic Shares Outstanding (1)       245,778      249,572  

  2027 Convertible Shares @$143.25              7,330        7,330  
  2028 Convertible Shares @$183.19              5,513        5,513  
  2029 Convertible Shares @$672.40              4,462        4,462  
  2030 Convertible Shares @$149.77              5,342        5,342  
  2031 Convertible Shares @$232.72              2,594        2,594  
  2032 Convertible Shares @$204.33              3,915        3,915  
  Options Outstanding                           4,956        4,863  
  RSU/PSU Unvested                              1,845        1,835  
  Assumed Diluted Shares Outstanding (2)      281,735      285,425  
  BTC Yield % (Year to Date)                                  1.69  

  (1)      Basic