Strategy's Top Lawyer Drops His Entire MSTR Stash — And the Stock Slides Right Along 🍂

Strategy's executive vice president and general counsel Thomas Chow has fully exited his position in the company's Class A common stock, according to an SEC filing. Chow sold 106 MSTR shares at $138.75 per share on the most recent reporting date, generating net proceeds of approximately $14,707. The shares had been acquired days earlier under Strategy's employee stock purchase plan (ESPP). Following the sale, Chow retains only small direct holdings of preferred stock, including Series A Perpetual Stretch Preferred Stock and Series A Perpetual Strike Preferred Stock. Strategy's Class A shares, traded under the ticker MSTR, have fallen nearly 6% to $136.52 since the transaction was disclosed. Chow was appointed EVP, General Counsel and Secretary in December 2025 following the retirement of Wei-Ming Shao. His direct and derivative ownership of Class A common stock has consistently been minimal. Strategy insiders have sold MSTR stock at a record pace this year, with Director Jarrod Patten and other executives executing larger sales earlier in 2025. Wall Street analysts have continued to raise price targets on the Bitcoin treasury company despite the insider selling and the recent share price decline. Strategy holds Bitcoin on its balance sheet and trades under the MSTR ticker on U.S. equity markets.