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Strategy Executive Compensation (FY25)

MSTR · Tysons Corner, VA · Executive and director compensation, fiscal 2022 to 2025

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Data as of September 7, 2026Latest filing (8-K): June 10, 2026
7 filings cited on this page
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Strategy brief$1,500Get the executive brief
218 figures on this page: 215 cited to the filing that reported them, 3 calculated from figures it prints. See the citations
Chief executive, fiscal 2025
◇
Phong Le
Latest say-on-pay support
=
June 8, 2026
Chief executive pay ratio
◇
To the median employee
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Phong Le: $15,736,147 → $13,784,204 (12.4% lower)
CEO pay ratio: 172:1 → 168:1 (2.3% lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is Strategy's chief executive and what were they paid?
Total compensation for Phong Le, President & Chief Executive Officer, came to $13,784,204 in fiscal 2025. Le's total moved 12.4% lower from the $15,736,147 reported for fiscal 2024.
What was Strategy's say-on-pay result?
Shareholders supported the say-on-pay proposal with 96.9% of votes cast for or against in favor at the meeting held June 8, 2026 for fiscal 2025.
Which companies are in Strategy's peer group?
The disclosed peer group names BlackRock, Inc., Block, Inc., C3.ai, Inc., Clearwater Analytics Holdings, Inc. and Coinbase Global, Inc., among others.
What is Strategy's chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2025 is 168:1, against median employee compensation of $82,083.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Phong Le
President & Chief Executive Officer
◇◇—◇——◇◇
W. Ming Shao
Senior Executive Vice President, Chief Legal Officer & Secretary
◇◇—◇——◇◇
Andrew Kang
Senior Executive Vice President & Chief Financial Officer
◇◇◇◇——◇◇
Kevin Adkisson
Senior Executive Vice President & Chief Revenue Officer
◇—◇———◇◇
Michael Saylor
Executive Chairman
◇—————◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Phong Le
President & Chief Executive Officer
◇◇◇———◇◇
Andrew Kang
Senior Executive Vice President & Chief Financial Officer
◇◇◇◇——◇◇
W. Ming Shao
Senior Executive Vice President, Chief Legal Officer & Secretary
◇◇◇———◇◇
Kevin Adkisson
Senior Executive Vice President & Chief Revenue Officer
◇◇◇◇——◇◇
Michael Saylor
Executive Chairman
◇—————◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Phong Q. Le
President & Chief Executive Officer
◇◇◇◇——◇◇
Andrew Kang
Executive Vice President & Chief Financial Officer
◇◇◇◇——◇◇
W. Ming Shao
Executive Vice President, General Counsel & Secretary
◇◇◇◇——◇◇
Michael J. Saylor
Chairman of the Board & Executive Chairman
◇—————◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Phong Le
President & Chief Executive Officer
◇◇◇◇——◇◇
Andrew Kang
Executive Vice President & Chief Financial Officer
◇◇◇◇——◇◇
W. Ming Shao
Former Executive Vice President, General Counsel & Secretary
Departed during or after this year
◇◇◇◇——◇◇
Thomas Chow
Executive Vice President, General Counsel & Secretary
◇◇◇◇——◇◇
Michael Saylor
Chairman of the Board & Executive Chairman
◇—————◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Andrew KangRSU◇——◇——◇
Andrew KangOPTION◇——◇—◇◇
Andrew KangRSU◇——◇——◇
Phong Q. LeRSU◇——◇——◇
Phong Q. LeOPTION◇——◇—◇◇
Phong Q. LeRSU◇——◇——◇
Thomas C. ChowRSU◇——◇——◇
Thomas C. ChowOPTION◇——◇—◇◇
W. Ming ShaoOPTION◇——◇—◇◇
W. Ming ShaoRSU◇——◇——◇
W. Ming ShaoOTHER◇—————◇
Fiscal 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Phong LeRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇—
RSU◇◇——
Andrew KangRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Thomas ChowRSU◇◇——
Option◇—◇—
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Severance and change in control

The terms as written in the agreements.
Andrew Kang
Executive Vice President & Chief Financial Officer · Terms as described in the company’s compensation discussion · citing a 2026 filing
Severance multiple◇
Severance base◇
Severance cash amount◇
Thomas Chow
Executive Vice President, General Counsel & Secretary · Terms as described in the company’s compensation discussion · citing a 2026 filing
Severance multiple◇
Severance base◇
Severance cash amount◇
Benefits continuation◇

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Jane A. Dietze
◇◇————◇
Gregg J. Winiarski
◇◇————◇
Brian P. Brooks
◇◇————◇
Peter L. Briger, Jr
◇◇————◇
Stephen X. Graham
◇◇———◇◇
Jarrod M. Patten
◇◇————◇
Carl J. Rickertsen
◇◇———◇◇
Leslie J. Rechan
◇◇———◇◇
Michael J. Saylor and Phong Q. Le served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Audit committee member◇
Compensation committee member◇
Equity is delivered as RSUs and Options.
Stock ownership guideline: Equity Ownership Guidelines referenced on page 28 of proxy; specific director requirement details not included in provided text excerpt.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • BlackRock, Inc. BLK
  • Block, Inc. XYZ
  • C3.ai, Inc. AI
  • Clearwater Analytics Holdings, Inc. CWAN
  • Coinbase Global, Inc. COIN
  • CrowdStrike Holdings, Inc. CRWD
  • Domo, Inc. DOMO
  • EverCommerce Inc. EVCM
  • Fiserv, Inc. FI
  • Five9, Inc. FIVN
  • Fortinet, Inc. FTNT
  • GitLab Inc. GTLB
  • Guidewire Software, Inc. GWRE
  • Intapp, Inc. INTA
  • nCino, Inc. NCNO
  • Palantir Technologies Inc. PLTR
  • PayPal Holdings, Inc. PYPL
  • Pegasystems Inc. PEGA
  • Qualys, Inc. QLYS
  • SPS Commerce, Inc. SPSC
  • Varonis Systems, Inc. VRNS
  • Verint Systems Inc. VRNT
  • Workday, Inc. WDAY

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025June 8, 2026=◇◇◇
2022May 24, 2023=◇◇◇
2019May 27, 2020=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
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What this page does not include

Everything above is a fact Strategy disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Strategy sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
218 figures on this page: 215 cited to the filing that reported them, 3 calculated from figures it prints.
215 cited to the filing
3 calculated from the filing

Documents cited

  1. 0001193125-26-265108
  2. 0001193125-26-186895
    CEO Pay Ratio · Compensation Discussion and Analysis · Director Compensation · Grants of Plan-based Awards for 2025 · and 2 more sections
  3. 0001193125-25-100720
    Summary Compensation Table
  4. 0001193125-24-094634
    Summary Compensation Table
  5. 0001193125-23-156662
  6. 0001193125-23-100670
    Summary Compensation Table
  7. 0001193125-20-158478
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Strategy executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/MSTR (accessed 2026).
Short form: data: Velarion

The Strategy brief, $1,500

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $1,200 for the board report; $2,400 for both.
Get the executive briefGet the board briefNo account needed.
7 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
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Peers Strategy discloses

The companies named in MSTR's own disclosed peer group.

BlackRock, Inc.Block, Inc.C3.ai, Inc.Clearwater Analytics Holdings, Inc.Coinbase Global, Inc.CrowdStrike Holdings, Inc.Domo, Inc.EverCommerce Inc.Five9, Inc.Fortinet, Inc.GitLab Inc.Guidewire Software, Inc.Intapp, Inc.nCino, Inc.Palantir Technologies Inc.PayPal Holdings, Inc.Pegasystems Inc.Qualys, Inc.SPS Commerce, Inc.Varonis Systems, Inc.Verint Systems Inc.Workday, Inc.

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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