Phong Le acquired the Series A Perpetual Stretch Preferred Stock at a weighted average price of $90.796 per share on June 22, an SEC filing shows, after weeks of pressure on the security.
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.
Buying Into Weakness
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.
What STRC Pays
STRC carries a variable dividend rate and ranks among Strategy’s suite of preferred instruments the company has used to fund its Bitcoin accumulation without issuing more common stock. The $100-par security pays dividends the company can defer under certain conditions, a feature that has drawn scrutiny as the stock traded below that par value in recent weeks.
Strategy has leaned heavily on preferred stock issuance in 2026, including a €620 million STRE offering priced in November carrying a 10% dividend rate. The company has also sold Bitcoin to cover preferred dividend obligations, including a rare 32 BTC sale in June, its first such sale since 2022.
Le’s purchase was disclosed the same day it occurred, filed with the SEC on June 22 at 3:57 p.m. ET.