MicroStrategys President Michael Saylor is Preparing to Sell Company Shares! Will He Buy Bitcoin? Here are the Details
MicroStrategys Chief Executive Officer, Michael Saylor, initiated the sale of stock options worth $216 million in the company. The move was revealed in a recent regulatory filing with the U.S. Securities and Exchange Commission. MicroStrategys Michael Saylor Begins Selling $216 Million in Stock Options Saylor is preparing to sell 310,000 stock option awards granted in 2014 that will expire in April. During MicroStrategys third-quarter earnings call, it announced plans to sell 5,000 shares per trading day over the next four months, subject to a minimum price requirement. This plan was first disclosed in its quarterly 10-Q filing, which said it could sell up to 400,000 shares of its vested options by April 26. The chairman of the board stated that exercising this option would allow him to fulfill his personal obligations and acquire additional Bitcoin for his personal account. “I remain optimistic about MicroStrategys prospects, and I should note that my equity stake in the company will continue to be very significant after these sales,” Saylor said during the call. MicroStrategy, the largest institutional Bitcoin holder, has approximately 189,000 BTC in its treasury after the last purchase in December. The value of these assets is approximately $8.5 billion at current prices. Despite the market-wide decline in cryptocurrency-focused stocks,