Company: MSTR
Filing Date: 2025-01-03
Form Type: DEF 14A
Source: 0001140361-25-000231
Chunk: 199

Company: Strategy Inc
Filing Date: 2025-01-03
Form: DEF 14A
Chunk 199
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 from these sales rather than from the Company’s cash reserves. During the nine months ended September 30, 2023, 188,910 share-settled restricted stock units having an aggregate grant date fair value of $9.0 million vested, and 48,170 shares were withheld to satisfy tax obligations, resulting in 140,740 issued shares. The weighted average grant date fair value of share-settled restricted stock units granted during the nine months ended September 30, 2024 and 2023 was $144.88 and $28.01, respectively, based on the fair value of the Company’s class A common stock. For the three and nine months ended September 30, 2024, the Company recognized approximately $6.2 million and $18.3 million, respectively, in share-based compensation expense from share-settled restricted stock units granted under the Stock Incentive Plans. For the three and nine months ended September 30, 2023, the Company recognized approximately $4.9 million and $12.2 million, respectively, in share-based compensation expense from

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TABLE OF CONTENTS

share-settled restricted stock units granted under the Stock Incentive Plans. As of September 30, 2024, there was approximately $64.9 million of total unrecognized share-based compensation expense related to unvested share-settled restricted stock units, which the Company expects to recognize over a weighted average vesting period of approximately 3.0 years. Share-settled performance stock units As of September 30, 2024, there were 302,850 performance stock units outstanding under the 2023 Equity Plan. The following table summarizes the Company’s performance stock unit activity (in thousands) for the periods indicated:

| Balance as of January 1, 2024             |     | Share-Settled Performance Stock Units Outstanding 
                                             Units 
                                               254 |     |       Aggregate 
 Intrinsic Value |
|:------------------------------------------|:----|--------------------------------------------------:|:----|----------------:|
| Granted                                   |     |                                                56 |     |                 |
| Vested                                    |     |                                                 0 |     |              $0 |
| Forfeited                                 |     |                                                -7 |     |                 |
| Balance as of September 30, 2024          |     |                                               303 |     |                 |
| Expected to vest as of September 30, 2024 |     |