Form 4: MicroStrategy President & CEO Phong Le Exercises Options and Sells Shares

Sentiment:

SEC Form 4 Filing 28 February 2024 4:25 PM

Phong Le, President & CEO of MicroStrategy, exercised stock options and sold shares of Class A Common Stock on February 27, 2024.

Summary

On February 27, 2024, Phong Le, the President & CEO of MicroStrategy, exercised an employee stock option to purchase 10,000 shares of Class A Common Stock at a price of $151.60.
Following the exercise of the option, Mr. Le sold 10,000 shares of Class A Common Stock in multiple transactions at weighted average prices ranging from $855.81 to $866.57.
After these transactions, Mr. Le directly owns 595 shares of Class A Common Stock.
Mr. Le also holds derivative securities, including employee stock options to purchase additional shares of Class A common stock.
These options have various exercise prices and expiration dates, with vesting schedules extending through February 2026.
Mr. Le also owns restricted stock units (RSUs) and performance stock units (PSUs) that are scheduled to vest in the future.

Sentiment

Score: 5

Explanation: This is a routine filing related to stock option exercises and sales. It doesn't inherently indicate positive or negative sentiment, but rather reflects standard executive compensation practices.

Industry Context

Executive stock sales are a common occurrence, and investors often monitor these transactions for insights into management's perspective on the company's valuation and future prospects.

Stakeholder Impact

The stock sale may have a minor impact on shareholders, depending on their interpretation of the transaction.
The transactions do not appear to have a direct impact on employees, customers, suppliers, or creditors.

Key Dates

Date	Description
02/23/2022	10,000 shares of Class A common stock vested under an employee stock option with an exercise price of $691.23 per share and an expiration date of February 23, 2031.
11/22/2021	5,000 shares vested under an employee stock option.
02/17/2023	10,000 shares of Class A common stock vested under an employee stock option with an exercise price of $404.60 per share and an expiration date of February 17, 2032.
11/22/2022	25,000 shares vested under an employee stock option.
09/13/2023	15,000 shares of Class A common stock vested under an employee stock option with an exercise price of $231.25 per share and an expiration date of September 13, 2032.
11/22/2023	25,000 shares vested under an employee stock option.
06/05/2023	9,537 performance stock units (PSUs) granted.
02/17/2024	10,000 shares of Class A common stock vested under an employee stock option with an exercise price of $404.60 per share and an expiration date of February 17, 2032.
02/23/2024	10,000 shares of Class A common stock vested under an employee stock option with an exercise price of $691.23 per share and an expiration date of February 23, 2031.
02/27/2024	Phong Le exercised an employee stock option to purchase 10,000 shares of Class A Common Stock and sold 10,000 shares.
02/28/2024	Date of the Form 4 filing.
06/05/2024	1,192 shares of restricted stock units are scheduled to vest.
09/13/2024	15,000 shares of Class A common stock are scheduled to vest under an employee stock option with an exercise price of $231.25 per share and an expiration date of September 13, 2032.
11/13/2024	250 shares of Class A common stock will vest.
02/17/2025	10,000 shares of Class A common stock are scheduled to vest under an employee stock option with an exercise price of $404.60 per share and an expiration date of February 17, 2032.
06/05/2025	1,192 shares of restricted stock units are scheduled to vest.
09/13/2025	15,000 shares of Class A common stock are scheduled to vest under an employee stock option with an exercise price of $231.25 per share and an expiration date of September 13, 2032.
02/17/2026	10,000 shares of Class A common stock are scheduled to vest under an employee stock option with an exercise price of $404.60 per share and an expiration date of February 17, 2032.
05/31/2026	End of the three-year performance period for the performance stock units (PSUs) granted on June 5, 2023.
06/05/2026	1,192 shares of restricted stock units are scheduled to vest.
09/13/2026	15,000 shares of Class A common stock are scheduled to vest under an employee stock option with an exercise price of $231.25 per share and an expiration date of September 13, 2032.
06/05/2027	1,192 shares of restricted stock units are scheduled to vest.
02/23/2031	Expiration date of an employee stock option to purchase 40,000 shares of Class A common stock with an exercise price of $691.23 per share.
02/17/2032	Expiration date of an employee stock option to purchase 40,000 shares of Class A common stock with an exercise price of $404.60 per share.
09/13/2032	Expiration date of an employee stock option to purchase 60,000 shares of Class A common stock with an exercise price of $231.25 per share.

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