# EDGAR Filing Document

**Accession Number:** 0001050446
**File Stem:** 0001209191-23-008431
**Filing Date:** 2023-2
**Character Count:** 15825
**Document Hash:** 1a06640fca214c729cf55e7bdb505c36
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001209191-23-008431.hdr.sgml**: 20230210

**ACCESSION NUMBER**: 0001209191-23-008431

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230209

**FILED AS OF DATE**: 20230210

**DATE AS OF CHANGE**: 20230210

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Lang Timothy Edwin
- **CENTRAL INDEX KEY:** 0001626017

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-24435
- **FILM NUMBER:** 23612744

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

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MICROSTRATEGY Inc
- **CENTRAL INDEX KEY:** 0001050446
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PREPACKAGED SOFTWARE [7372]
- **IRS NUMBER:** 510323571
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**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:** 19971126

## Exhibit 99.1

```
<PRE>
Exhibit A:

Mr. Lang also directly owns an employee stock option to purchase 20,000
shares of Class A common stock with (i) an exercise price of $691.23 per
share and (ii) an expiration date of February 23, 2031. Of the 20,000 shares
subject to this option, 5,000 shares vested on February 23, 2022, 5,000 shares
are scheduled to vest on February 23, 2023, 5,000 shares are scheduled to vest
on February 23, 2024, and 5,000 shares are scheduled to vest on February 23,
2025.

Mr. Lang also directly owns an employee stock option to purchase 20,000
shares of Class A common stock with (i) an exercise price of $404.60 per
share and (ii) an expiration date of February 17, 2032. Of the 20,000 shares
subject to this option, 5,000 shares are scheduled to vest on February 17, 2023,
5,000 shares are scheduled to vest on February 17, 2024, 5,000 shares are
scheduled to vest on February 17, 2025, and 5,000 shares are scheduled to
vest on February 17, 2026.

Mr. Lang also directly owns an employee stock option to purchase 15,000
shares of Class A common stock with (i) an exercise price of $175.00 per
share and (ii) an expiration date of November 10, 2032. Of the 15,000 shares
subject to this option, 3,750 shares are scheduled to vest on November 10, 2023,
3,750 shares are scheduled to vest on November 10, 2024, 3,750 shares are
scheduled to vest on November 10, 2025, and 3,750 shares are scheduled to
vest on November 10, 2026.

Mr. Lang also directly owns restricted stock units with the contingent right
to receive 500 shares of Class A common stock. Of these 500 shares, 250 shares
are scheduled to vest on November 13, 2023 and 250 shares are scheduled to vest
on November 13, 2024.
</PRE>
```

### 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).

[ ] 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>Lang Timothy Edwin<br><sub>(Last) (First) (Middle)</sub><br>C/O MICROSTRATEGY INCORPORATED<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>2023-02-09 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_SEVP & CTO_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>MICROSTRATEGY 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 | 2023-02-09 |  | M |  | 10000 | A | $189.16 | 12882 | D |  |
| Class A Common Stock | 2023-02-09 |  | M |  | 10000 | A | $131.53 | 22882 | D |  |
| Class A Common Stock | 2023-02-09 |  | M |  | 10000 | A | $151.60 | 32882 | D |  |
| Class A Common Stock | 2023-02-09 |  | S |  | 4000 | D | 259.88<sup>(1)</sup> | 28882 | D |  |
| Class A Common Stock | 2023-02-09 |  | S |  | 5213 | D | 261.18<sup>(2)</sup> | 23669 | D |  |
| Class A Common Stock | 2023-02-09 |  | S |  | 3937 | D | 262.11<sup>(3)</sup> | 19732 | D |  |
| Class A Common Stock | 2023-02-09 |  | S |  | 749 | D | 263.07<sup>(4)</sup> | 18983 | D |  |
| Class A Common Stock | 2023-02-09 |  | S |  | 900 | D | 267.42<sup>(5)</sup> | 18083 | D |  |
| Class A Common Stock | 2023-02-09 |  | S |  | 6300 | D | 268.63<sup>(6)</sup> | 11783 | D |  |
| Class A Common Stock | 2023-02-09 |  | S |  | 1601 | D | 269.47<sup>(7)</sup> | 10182 | D |  |
| Class A Common Stock | 2023-02-09 |  | S |  | 493 | D | 270.91<sup>(8)</sup> | 9689 | D |  |
| Class A Common Stock | 2023-02-09 |  | S |  | 407 | D | 272.66<sup>(9)</sup> | 9282 | D |  |
| Class A Common Stock | 2023-02-09 |  | S |  | 1534 | D | 274.05<sup>(10)</sup> | 7748 | D |  |
| Class A Common Stock | 2023-02-09 |  | S |  | 1700 | D | 275.24<sup>(11)</sup> | 6048 | D |  |
| Class A Common Stock | 2023-02-09 |  | S |  | 2066 | D | 276.19<sup>(12)</sup> | 3982 | D |  |
| Class A Common Stock | 2023-02-09 |  | S |  | 1100 | D | 277.28<sup>(13)</sup> | 2882 | 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 |
| Employee Stock Option (Right to buy) | $189.16 | 2023-02-09 |  | M |  |  | 10000 | <sup>(14)</sup> | 2027-03-08 | Class A Common Stock | 10000 | $0.00 | 0<sup>(15)</sup> | D |  |
| Employee Stock Option (Right to buy) | $131.53 | 2023-02-09 |  | M |  |  | 10000 | <sup>(16)</sup> | 2028-02-08 | Class A Common Stock | 10000 | $0.00 | 0<sup>(15)</sup> | D |  |
| Employee Stock Option (Right to buy) | $151.60 | 2023-02-09 |  | M |  |  | 10000 | <sup>(17)</sup> | 2029-11-22 | Class A Common Stock | 10000 | $0.00 | 5000<sup>(15)</sup> | D |  |

---

### Footnotes:

(1) The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $259.27 to $260.26,inclusive. The reporting person undertakes to provide to MicroStrategy Incorporated, any security holder of MicroStrategy Incorporated, or thestaff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within theranges set forth in this footnote.

(2) The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $260.70 to $261.68,inclusive. The reporting person undertakes to provide to MicroStrategy Incorporated, any security holder of MicroStrategy Incorporated, or thestaff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within theranges set forth in this footnote.

(3) The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $261.70 to $262.68,inclusive. The reporting person undertakes to provide to MicroStrategy Incorporated, any security holder of MicroStrategy Incorporated, or thestaff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within theranges set forth in this footnote.

(4) The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $262.72 to $263.37,inclusive. The reporting person undertakes to provide to MicroStrategy Incorporated, any security holder of MicroStrategy Incorporated, or thestaff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within theranges 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 $267.13 to $268.03,inclusive. The reporting person undertakes to provide to MicroStrategy Incorporated, any security holder of MicroStrategy Incorporated, or thestaff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within theranges 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 $268.26 to $268.98,inclusive. The reporting person undertakes to provide to MicroStrategy Incorporated, any security holder of MicroStrategy Incorporated, or thestaff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within theranges 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 $269.43 to $269.68,inclusive. The reporting person undertakes to provide to MicroStrategy Incorporated, any security holder of MicroStrategy Incorporated, or thestaff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within theranges 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 $270.55 to $271.42,inclusive. The reporting person undertakes to provide to MicroStrategy Incorporated, any security holder of MicroStrategy Incorporated, or thestaff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within theranges 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 $272.50 to $272.88,inclusive. The reporting person undertakes to provide to MicroStrategy Incorporated, any security holder of MicroStrategy Incorporated, or thestaff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within theranges 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 $273.61 to $274.53,inclusive. The reporting person undertakes to provide to MicroStrategy Incorporated, any security holder of MicroStrategy Incorporated, or thestaff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within theranges 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 $274.94 to $275.54,inclusive. The reporting person undertakes to provide to MicroStrategy Incorporated, any security holder of MicroStrategy Incorporated, or thestaff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within theranges 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 $275.94 to $276.87,inclusive. The reporting person undertakes to provide to MicroStrategy Incorporated, any security holder of MicroStrategy Incorporated, or thestaff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within theranges 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 $276.94 to $277.61,inclusive. The reporting person undertakes to provide to MicroStrategy Incorporated, any security holder of MicroStrategy Incorporated, or thestaff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within theranges set forth in this footnote.

(14) Of the 10,000 shares exercised on February 9, 2023 pursuant to this option, 2,500 shares vested on March 8, 2020 and 7,500 shares vested on March 8, 2021.

(15) See Exhibit A.

(16) The 10,000 shares exercised on February 9, 2023 pursuant to this option vested on February 8, 2022.

(17) Of the 10,000 shares exercised on February 9, 2023 pursuant to this option, 5,000 shares vested on November 22, 2021 and 5,000 shares vested on November 22, 2022. The remaining 5,000 shares subject to this option are scheduled to vest on November 22, 2023.

**Signature:** /s/ Joseph Phillips, Attorney-in-Fact  
**Date:** 2023-02-10

### 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.**