Strategy President and CEO Phong Le acquired 11,000 shares of the company's Series A Perpetual Stretch Preferred Stock, known by its ticker STRC, on June 22, according to a Form 4 filed with the Securities and Exchange Commission. The purchase was made through the Phong Le Revocable Trust, of which Le is trustee and beneficiary.
Le paid a weighted average price of $90.796 per share, with individual trades executed between $90.66 and $90.87, the filing shows. The purchase totals roughly $999,000. STRC is one of five Nasdaq-listed securities issued by Strategy, the Bitcoin treasury company run by chairman Michael Saylor, alongside common stock MSTR and preferred stocks STRK, STRF and STRD.
The purchase lands after a rough stretch for STRC. The Defiant reported the preferred stock hit record lows in June and slipped below its $100 par value as a broader leverage cascade weighed on Strategy's capital structure. Company executives had already moved to reassure investors, issuing coordinated statements as the stock fell.
Following the June 22 purchase, Le directly holds 8,009 STRC shares, per the filing, in addition to the 11,000 shares now held indirectly through his trust. He also holds 126,323 shares of Strategy's Class A common stock, 6,000 shares of the 10% Series A Perpetual Strife Preferred Stock (STRF) and 4,500 shares of the Series A Perpetual Stride Preferred Stock (STRD), the filing shows. Smaller STRC positions are held indirectly through trusts for his three minor children.
