# EDGAR Filing Document

**Accession Number:** 0001651669
**File Stem:** 0001651669-26-000005
**Filing Date:** 2026-6
**Character Count:** 14384
**Document Hash:** 94d751b2c79473209a681d572fcbc1b0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001651669-26-000005.hdr.sgml**: 20260605

**ACCESSION NUMBER**: 0001651669-26-000005

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260603

**FILED AS OF DATE**: 20260605

**DATE AS OF CHANGE**: 20260605

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Le Phong
- **CENTRAL INDEX KEY:** 0001651669

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-42509
- **FILM NUMBER:** 261070834

**MAIL ADDRESS:**
- **STREET 1:** STRATEGY INCORPORATED
- **STREET 2:** 1850 TOWERS CRESCENT PLAZA
- **CITY:** TYSONS CORNER
- **STATE:** VA
- **ZIP:** 22182
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Strategy Inc
- **CENTRAL INDEX KEY:** 0001050446
- **STANDARD INDUSTRIAL CLASSIFICATION:** FINANCE SERVICES [6199]
- **ORGANIZATION NAME:** 09 Crypto Assets
- **EIN:** 510323571
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**BUSINESS ADDRESS:**
- **STREET 1:** 1850 TOWERS CRESCENT PLAZA
- **CITY:** TYSONS CORNER
- **STATE:** VA
- **ZIP:** 22182
- **BUSINESS PHONE:** 703-848-8600

**MAIL ADDRESS:**
- **STREET 1:** 1850 TOWERS CRESCENT PLAZA
- **CITY:** TYSONS CORNER
- **STATE:** VA
- **ZIP:** 22182

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MICROSTRATEGY Inc
- **DATE OF NAME CHANGE:** 20180821

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MICROSTRATEGY INC
- **DATE OF NAME CHANGE:** 19971126

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[x] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Le Phong<br><sub>(Last) (First) (Middle)</sub><br>C/O STRATEGY INC<br>1850 TOWERS CRESCENT PLAZA<br><sub>(Street)</sub><br>TYSONS CORNER, VA 22182<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2026-06-03 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_President & CEO_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Strategy Inc [ MSTR ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Class A Common Stock | 2026-06-03 |  | M |  | 190740<sup>(1)(2)</sup> | A | $0 | 213663 | D |  |
| Class A Common Stock | 2026-06-05 |  | S |  | 1650<sup>(3)</sup> | D | 114.793<sup>(4)</sup> | 212013 | D |  |
| Class A Common Stock | 2026-06-05 |  | S |  | 10719<sup>(3)</sup> | D | 115.351<sup>(5)</sup> | 201294 | D |  |
| Class A Common Stock | 2026-06-05 |  | S |  | 13149<sup>(3)</sup> | D | 116.569<sup>(6)</sup> | 188145 | D |  |
| Class A Common Stock | 2026-06-05 |  | S |  | 15892<sup>(3)</sup> | D | 117.531<sup>(7)</sup> | 172253 | D |  |
| Class A Common Stock | 2026-06-05 |  | S |  | 15954<sup>(3)</sup> | D | 118.592<sup>(8)</sup> | 156299 | D |  |
| Class A Common Stock | 2026-06-05 |  | S |  | 16303<sup>(3)</sup> | D | 119.529<sup>(9)</sup> | 139996 | D |  |
| Class A Common Stock | 2026-06-05 |  | S |  | 3858<sup>(3)</sup> | D | 120.221<sup>(10)</sup> | 136138 | D |  |
| Class A Common Stock | 2026-06-05 |  | S |  | 1171<sup>(3)</sup> | D | 121.586<sup>(11)</sup> | 134967 | D |  |
| Class A Common Stock | 2026-06-05 |  | S |  | 5882<sup>(3)</sup> | D | 122.546<sup>(12)</sup> | 129085 | D |  |
| Class A Common Stock | 2026-06-05 |  | S |  | 3743<sup>(3)</sup> | D | 123.389<sup>(13)</sup> | 125342 | D |  |
| Class A Common Stock | 2026-06-05 |  | S |  | 5144<sup>(3)</sup> | D | 124.244<sup>(14)</sup> | 120198 | D |  |
| Class A Common Stock | 2026-06-05 |  | S |  | 273<sup>(3)</sup> | D | 125.138<sup>(15)</sup> | 119925 | D |  |
| Series A Perpetual Strife Preferred Stock |  |  |  |  |  |  |  | 6000 | D |  |
| Series A Perpetual Stretch Preferred Stock |  |  |  |  |  |  |  | 8009 | D |  |
| Series A Perpetual Stretch Preferred Stock |  |  |  |  |  |  |  | 121 | I | By Minor Child 1 |
| Series A Perpetual Stretch Preferred Stock |  |  |  |  |  |  |  | 32 | I | By Minor Child 2 |
| Series A Perpetual Stretch Preferred Stock |  |  |  |  |  |  |  | 33 | I | By Minor Child 3 |
| Series A Perpetual Stride Preferred Stock |  |  |  |  |  |  |  | 4500 | D |  |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Performance Stock Unit | <sup>(2)</sup> | 2026-06-03 |  | M |  |  | 190740 | <sup>(16)</sup> | <sup>(16)</sup> | Class A Common Stock | 190740 | $0 | 0 | D |  |

---

### Footnotes:

(1) Upon certification by Strategy Inc's ("Strategy") Compensation Committee on June 3, 2026 of achievement of certain performance criteria and the service-based requirement, 190,740 performance stock units ("PSUs") vested. The PSU share counts reflect Strategy's 10-for-1 stock split effected on August 2024.

(2) Each PSU represents a contingent right to receive one share of class A common stock of Strategy.

(3) The sales were effected pursuant to a Rule 10b5-1 instruction letter entered into on May 7, 2024 to satisfy the reporting person's tax withholding obligation due upon the vesting of previously granted equity awards. Such sale was made solely to pay Strategy the tax withholding obligation due upon the vesting of the PSUs.

(4) The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $114.595 to $114.99, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the range set forth in this footnote.

(5) The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $115.00 to $115.96, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the range set forth in this footnote.

(6) The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $116.00 to $116.99, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the range set forth in this footnote.

(7) The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $117.00 to $117.99, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the range set forth in this footnote.

(8) The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $118.00 to $118.991, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the range set forth in this footnote.

(9) The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $119.00 to $119.99, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the range set forth in this footnote.

(10) The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $120.00 to $120.99, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the range set forth in this footnote.

(11) The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $121.11 to $121.98, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the range set forth in this footnote.

(12) The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $122.00 to $122.99, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the range set forth in this footnote.

(13) The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $123.00 to $123.98, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the range set forth in this footnote.

(14) The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $124.00 to $124.79, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the range set forth in this footnote.

(15) The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $125.00 to $125.19, inclusive. The reporting person undertakes to provide to Strategy, any security holder of Strategy, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the range set forth in this footnote.

(16) The vesting of the PSUs was subject to satisfying both a performance-based requirement and a service-based requirement. The performance-based requirement was satisfied because Strategy's total stockholder return ("TSR") for the three-year performance period from June 1, 2023 through May 31, 2026 fell within the >75th percentile bucket of the companies comprising the Nasdaq Composite Index, resulting in a Payout Factor of 200%, as certified by Strategy's Compensation Committee on June 3, 2026. The service-based requirement was satisfied because the Reporting Person remained continuously employed by Strategy as an "Eligible Participant" (as defined in the PSU Agreement) through the certification date. All PSUs vested in full upon certification.

**Signature:** /s/ Allein Sabel, Attorney-in-Fact  
**Date:** 2026-06-05

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**