Over the past three months, top managers of MicroStrategy sold company shares almost daily. According to the InsiderScreener platform, the total amount of sales was about $40.3 million, while share purchases were only $2.3 million, which is 10 times less.
The Vice President, Chief Financial Officer, and members of the Board of Directors actively sold shares. Moreover, most transactions occurred at prices significantly above the current market level — over $400 per share. Some insiders conducted such operations dozens of times.
Part of the sales was planned in advance — this is standard practice when shares are sold automatically according to option programs or distribution schemes. Such transactions do not require manual involvement and are conducted at predetermined times.
The remaining transactions were ordinary market sales. Some coincided with a recent price spike of MSTR above $400, which provided an opportunity to lock in profits at short-term peaks.
It is important to understand that even with active stock sales, management retains a significant stake in the company. For example, co-founder and Chairman Michael Saylor still owns nearly 20 million shares: 19.6 million class B and another 382 thousand class A. According to Bloomberg's estimate, his stake is about 8%. In addition, Saylor personally owns 17,732 $BTC . His net worth is estimated at over $8 billion.
However, such sell-offs are common practice for public companies. Executives regularly sell shares received through options or bonus programs.