In a recent disclosure to the United States Securities and Exchange Commission (SEC), MicroStrategy’s executive chairman, Michael Saylor, has started the process of selling $216 million worth of his shares in the company. Saylor had previously revealed his intention to utilize a portion of the proceeds to acquire more Bitcoin.
The SEC filing, dated January 2, unveils that Saylor has commenced selling the 315,000 stock options awards granted to him in April 2014. These stock options are set to expire on April 30, 2024. The executive chairman plans to gradually sell these shares over a four-month period.
Details of the Michael Saylor Stock Sales
Saylor initiated the stock sale process by selling his first tranche of 5,000 shares on January 2, as outlined in the filing. This aligns with his earlier announcement during MicroStrategy’s third-quarter earnings call on November 2, where he detailed his plan to sell 5,000 MSTR shares daily for the next four months. The proceeds are earmarked for addressing personal obligations and increasing his Bitcoin holdings.
A November 1 Q-10 filing with the SEC stipulates that Saylor is permitted to sell a maximum of 400,000 shares of his vested options between January 2 and April 26 this year.
MicroStrategy’s Performance Surpasses Bitcoin
While Bitcoin witnessed a noteworthy 170% rally in the past year, MicroStrategy has outperformed the digital asset, boasting an impressive 411% gain, according to TradingView data.
On December 27, MicroStrategy made headlines by acquiring an additional 14,620 Bitcoin for a substantial $615 million. This strategic move catapulted MicroStrategy’s total Bitcoin holdings to an astounding 189,150 Bitcoin, valued at approximately $8.5 billion at current prices.
