Bitcoin Big Better Executive Exercises and Sells Stock Options at $170 Share Price

Jarrod M. Patten, a director of Strategy Inc (Nasdaq: MSTR), exercised stock options at a strike price of $18.654 per share three times between late March and April 21, then immediately sold an equivalent number of Class A common shares at market prices of roughly $130–$172 per share, realizing profits in the hundreds of thousands of dollars. Through these transactions, his direct holding of Class A common shares remained at about 28,000 shares, and he still holds a substantial stake via Series A perpetual preferred shares and unexercised options.

In an April 13 filing, Strategy Inc disclosed that it had sold approximately 10,028,363 shares of its variable-rate Series A perpetual “Stretch” preferred stock (STRC), raising about $1 billion in principal (roughly ₩1.4 trillion), and that it retains authorization to issue tens of billions of dollars more under the same program. The company also reiterated in its recent filings and market summaries that it plans to step up the dividend rate on STRC to 11% in 2026 and then to 11.5%, offering relatively high yields to preferred‐stock investors.

Listed on Nasdaq, Strategy Inc is a software company with significant Bitcoin holdings. In addition to its Class A common stock, the company has financed Bitcoin purchases and corporate operations through various preferred‐stock series—STRF, STRC, STRK, and STRD—and large-scale equity offerings.