MSTR.NASDAQMicrostrategy INC
Form 4: MicroStrategy Director Jarrod M. Patten Exercises Options and Sells Shares
Sentiment:
SEC Form 4 Filing
Director Jarrod M. Patten exercised stock options and sold MicroStrategy (MSTR) Class A Common Stock on February 26, 2024.
Summary
- On February 26, 2024, Jarrod M. Patten, a director of MicroStrategy Incorporated, executed transactions involving the company's Class A Common Stock.
- Patten exercised a director stock option to acquire 2,980 shares at a price of $121.43 per share.
- Following the exercise, Patten sold a total of 2,980 shares in multiple transactions at weighted average prices ranging from $709.67 to $800.16.
- After these transactions, Patten directly owns 0 shares of Class A Common Stock.
- Patten also holds multiple director stock options to purchase additional shares of Class A common stock at various exercise prices and expiration dates.
- These options vest in installments, typically with 1,250 shares vesting annually on May 31st.
- Additionally, Patten owns restricted stock units representing the contingent right to receive 497 shares of Class A common stock, scheduled to vest on May 31, 2024.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of stock transactions. It doesn't inherently indicate positive or negative sentiment about the company's future.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. Investors often monitor these filings for insights into management's perspective on the company's stock.
Comparison to Industry Standards
- Monitoring insider transactions is a standard practice in financial analysis.
- Comparing Patten's transactions to those of other directors in similar tech companies could provide context, but this would require additional data.
- For example, directors at companies like Palantir (PLTR) or Block (SQ) also regularly file Form 4s detailing their stock transactions.
Stakeholder Impact
- The transactions may have a minor impact on shareholders, potentially influencing short-term stock price fluctuations.
- The transactions do not directly impact employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 04/30/2017 | 2,980 shares exercised on February 26, 2024 vested on this date |
| 04/30/2017 | 475 shares subject to director stock option vested on this date |
| 04/30/2018 | 8,750 shares subject to director stock option vested on this date |
| 05/31/2016 | 1,250 shares subject to director stock option vested on this date |
| 05/31/2017 | 1,250 shares subject to director stock option vested on this date |
| 05/31/2017 | 1,250 shares subject to director stock option vested on this date |
| 05/31/2018 | 1,250 shares subject to director stock option vested on this date |
| 05/31/2018 | 1,250 shares subject to director stock option vested on this date |
| 05/31/2019 | 1,250 shares subject to director stock option vested on this date |
| 05/31/2019 | 1,250 shares subject to director stock option vested on this date |
| 05/31/2019 | 1,250 shares subject to director stock option vested on this date |
| 05/31/2020 | 1,250 shares subject to director stock option vested on this date |
| 05/31/2020 | 1,250 shares subject to director stock option vested on this date |
| 05/31/2020 | 1,250 shares subject to director stock option vested on this date |
| 05/31/2021 | 1,250 shares subject to director stock option vested on this date |
| 05/31/2021 | 1,250 shares subject to director stock option vested on this date |
| 05/31/2021 | 1,250 shares subject to director stock option vested on this date |
| 05/31/2022 | 1,250 shares subject to director stock option vested on this date |
| 05/31/2022 | 1,250 shares subject to director stock option vested on this date |
| 05/31/2022 | 1,250 shares subject to director stock option vested on this date |
| 05/31/2023 | 1,250 shares subject to director stock option vested on this date |
| 05/31/2023 | 1,250 shares subject to director stock option vested on this date |
| 05/31/2023 | 1,250 shares subject to director stock option vested on this date |
| 02/26/2024 | Director Stock Option (Right to buy) exercised |
| 02/26/2024 | Shares of Class A Common Stock sold |
| 02/27/2024 | Date of signature for the SEC filing |
| 04/30/2024 | Expiration date of Director Stock Option (Right to buy) |
| 05/31/2024 | 1,250 shares subject to director stock option are scheduled to vest on this date |
| 05/31/2024 | 1,250 shares subject to director stock option are scheduled to vest on this date |
| 05/31/2024 | 761 shares subject to director stock option are scheduled to vest on this date |
| 05/31/2024 | 497 shares of Class A common stock are scheduled to vest on this date |
| 05/31/2025 | 1,250 shares subject to director stock option are scheduled to vest on this date |
| 05/31/2025 | 1,250 shares subject to director stock option are scheduled to vest on this date |
| 05/31/2025 | Expiration date of director stock option |
| 05/31/2026 | 1,250 shares subject to director stock option are scheduled to vest on this date |
| 05/31/2026 | Expiration date of director stock option |
| 05/31/2027 | Expiration date of director stock option |
| 05/31/2028 | Expiration date of director stock option |
| 05/31/2029 | Expiration date of director stock option |
| 05/31/2030 | Expiration date of director stock option |
| 05/31/2031 | Expiration date of director stock option |
| 05/31/2032 | Expiration date of director stock option |
| 05/31/2033 | Expiration date of director stock option |
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