<SEC-DOCUMENT>0001193125-23-156662.txt : 20230530
<SEC-HEADER>0001193125-23-156662.hdr.sgml : 20230530
<ACCEPTANCE-DATETIME>20230530164709
ACCESSION NUMBER:		0001193125-23-156662
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		15
CONFORMED PERIOD OF REPORT:	20230524
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Submission of Matters to a Vote of Security Holders
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20230530
DATE AS OF CHANGE:		20230530

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MICROSTRATEGY Inc
		CENTRAL INDEX KEY:			0001050446
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				510323571
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-24435
		FILM NUMBER:		23977231

	BUSINESS ADDRESS:	
		STREET 1:		1850 TOWERS CRESCENT PLAZA
		CITY:			TYSONS CORNER
		STATE:			VA
		ZIP:			22182
		BUSINESS PHONE:		703-848-8600

	MAIL ADDRESS:	
		STREET 1:		1850 TOWERS CRESCENT PLAZA
		CITY:			TYSONS CORNER
		STATE:			VA
		ZIP:			22182

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MICROSTRATEGY INC
		DATE OF NAME CHANGE:	19971126
</SEC-HEADER>
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<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:left">Soliciting material pursuant to Rule <span style="white-space:nowrap">14a-12</span> under the Exchange Act (17 CFR <span style="white-space:nowrap">240.14a-12)</span></p></td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
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<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:left"><span style="white-space:nowrap">Pre-commencement</span> communications pursuant to Rule <span style="white-space:nowrap">14d-2(b)</span> under the Exchange Act (17 CFR <span style="white-space:nowrap">240.14d-2(b))</span></p></td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
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<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:left"><span style="white-space:nowrap">Pre-commencement</span> communications pursuant to Rule <span style="white-space:nowrap">13e-4(c)</span> under the Exchange Act (17 CFR <span style="white-space:nowrap">240.13e-4(c))</span></p></td></tr></table> <p style="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities registered pursuant to Section&#160;12(b) of the Act:</p> <p style="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
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<td style=" text-align: center;margin:auto; border-bottom:1.00pt solid #000000;vertical-align:bottom;white-space:nowrap"> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Title of Each Class</p></td>
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<td style=" text-align: center;margin:auto; border-bottom:1.00pt solid #000000;vertical-align:bottom"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Trading</p> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Symbol</p></td>
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<td style=" text-align: center;margin:auto; border-bottom:1.00pt solid #000000;vertical-align:bottom"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Name of Each Exchange</p> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">on which Registered</p></td></tr>
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<td style=" text-align: center;margin:auto; vertical-align:top"><ix:nonNumeric name="dei:TradingSymbol" contextRef="duration_2023-05-24_to_2023-05-24">MSTR</ix:nonNumeric></td>
<td style="vertical-align:bottom">&#160;</td>
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<td style="width:11%;vertical-align:top" align="left"><span style="font-weight:bold">Item&#160;5.02.</span></td>
<td align="left" style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:left">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. </p></td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On May&#160;24, 2023, the stockholders of MicroStrategy Incorporated (the &#8220;Company&#8221;) approved the MicroStrategy Incorporated 2023 Equity Incentive Plan (the &#8220;Plan&#8221;) at the Company&#8217;s 2023 Annual Meeting of Stockholders. 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</div></div>



<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<hr style="color:#999999;height:3px;width:100%" />

<div style="text-align:center"><div style="width:8.5in;text-align:left;margin-left: auto;margin-right: auto">

<table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%" cellpadding="0" cellspacing="0">
<tr style="page-break-inside:avoid">
<td style="width:11%;vertical-align:top" align="left"><span style="font-weight:bold">Item&#160;5.07.</span></td>
<td align="left" style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:left">Submission of Matters to a Vote of Security Holders. </p></td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On May&#160;24, 2023, the Company held its 2023 Annual Meeting of Stockholders. The following proposals were adopted by the votes specified below. </p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table cellspacing="0" cellpadding="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:100%;border:0;margin:0 auto">


<tr>

<td style="width:1%"></td>

<td style="vertical-align:bottom;width:1%"></td>
<td style="width:58%"></td>

<td style="vertical-align:bottom;width:1%"></td>
<td></td>
<td></td>
<td></td>

<td style="vertical-align:bottom;width:1%"></td>
<td></td>
<td></td>
<td></td>

<td style="vertical-align:bottom;width:1%"></td>
<td></td>
<td></td>
<td></td>

<td style="vertical-align:bottom;width:1%"></td>
<td></td>
<td></td>
<td></td>

<td style="vertical-align:bottom;width:1%"></td>
<td></td>
<td></td>
<td></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td colspan="2" style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td colspan="2" align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"><span style="font-weight:bold">For</span></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td colspan="2" align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"><span style="font-weight:bold">Withheld</span></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td colspan="2" align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"><span style="font-weight:bold">Abstain</span></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td colspan="2" align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"><span style="font-weight:bold">Broker<br /><span style="white-space:nowrap">Non-Votes</span></span></td>
<td style="vertical-align:bottom">&#160;</td></tr>


<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-2.00em; font-size:10pt; font-family:Times New Roman">1.&#8195;&#8201;</p></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:top">To elect the following six (6)&#160;directors for the next year:</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top"></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; text-indent:2.00em; font-size:10pt; font-family:Times New Roman">Michael J. Saylor</p></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">21,583,186</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">1,765,525</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">&#8212;&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">2,743,609</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; text-indent:2.00em; font-size:10pt; font-family:Times New Roman">Phong Q. Le</p></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">22,619,975</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">728,736</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">&#8212;&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">2,743,609</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top"></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; text-indent:2.00em; font-size:10pt; font-family:Times New Roman">Stephen X. Graham</p></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">21,734,553</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">1,614,158</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">&#8212;&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">2,743,609</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; text-indent:2.00em; font-size:10pt; font-family:Times New Roman">Jarrod M. Patten</p></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">21,691,072</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">1,657,639</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">&#8212;&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">2,743,609</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top"></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; text-indent:2.00em; font-size:10pt; font-family:Times New Roman">Leslie J. Rechan</p></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">21,705,978</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">1,642,733</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">&#8212;&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">2,743,609</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; text-indent:2.00em; font-size:10pt; font-family:Times New Roman">Carl J. Rickertsen</p></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">21,117,962</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">2,230,749</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">&#8212;&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">2,743,609</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td></tr>
<tr style="font-size:1pt">
<td style="height:12pt"></td>
<td style="height:12pt" colspan="2"></td>
<td style="height:12pt" colspan="4"></td>
<td style="height:12pt" colspan="4"></td>
<td style="height:12pt" colspan="4"></td>
<td style="height:12pt" colspan="4"></td>
<td style="height:12pt" colspan="4"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td colspan="2" style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td colspan="2" align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"><span style="font-weight:bold">For</span></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td colspan="2" align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"><span style="font-weight:bold">Against</span></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td colspan="2" align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"><span style="font-weight:bold">Abstain</span></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td colspan="2" align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"><span style="font-weight:bold">Broker<br /><span style="white-space:nowrap">Non-Votes</span></span></td>
<td style="vertical-align:bottom">&#160;</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top">2.</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:top">To approve the Plan.</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">23,267,027</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">72,474</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">9,210</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">2,743,609</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td></tr>
<tr style="font-size:1pt">
<td style="height:12pt"></td>
<td style="height:12pt" colspan="2"></td>
<td style="height:12pt" colspan="4"></td>
<td style="height:12pt" colspan="4"></td>
<td style="height:12pt" colspan="4"></td>
<td style="height:12pt" colspan="4"></td>
<td style="height:12pt" colspan="4"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td colspan="2" style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td colspan="2" align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"><span style="font-weight:bold">For</span></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td colspan="2" align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"><span style="font-weight:bold">Against</span></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td colspan="2" align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"><span style="font-weight:bold">Abstain</span></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td colspan="2" align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"><span style="font-weight:bold">Broker<br /><span style="white-space:nowrap">Non-Votes</span></span></td>
<td style="vertical-align:bottom">&#160;</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top">3.</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:top">To approve, on an advisory, <span style="white-space:nowrap">non-binding</span> basis, the compensation of the Company&#8217;s named executive officers as disclosed in the Proxy Statement.</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">20,967,338</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">2,370,393</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">10,980</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">2,743,609</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td></tr>
<tr style="font-size:1pt">
<td style="height:12pt"></td>
<td style="height:12pt" colspan="2"></td>
<td style="height:12pt" colspan="4"></td>
<td style="height:12pt" colspan="4"></td>
<td style="height:12pt" colspan="4"></td>
<td style="height:12pt" colspan="4"></td>
<td style="height:12pt" colspan="4"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td colspan="2" align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"><span style="font-weight:bold">3</span><br /><span style="font-weight:bold">Years</span></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td colspan="2" align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"><span style="font-weight:bold">2</span><br /><span style="font-weight:bold">Years</span></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td colspan="2" align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"><span style="font-weight:bold">1 Year</span></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td colspan="2" align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"><span style="font-weight:bold">Abstain</span></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td colspan="2" align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"><span style="font-weight:bold">Broker<br /><span style="white-space:nowrap">Non-Votes</span></span></td>
<td style="vertical-align:bottom">&#160;</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top">4.</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:top">To recommend, on an advisory, <span style="white-space:nowrap">non-binding</span> basis, holding future executive compensation advisory votes every three years, every two years, or every year.</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">19,979,484</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">26,476</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">3,334,286</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">8,465</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">2,743,609</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td></tr>
<tr style="font-size:1pt">
<td style="height:12pt"></td>
<td style="height:12pt" colspan="2"></td>
<td style="height:12pt" colspan="4"></td>
<td style="height:12pt" colspan="4"></td>
<td style="height:12pt" colspan="4"></td>
<td style="height:12pt" colspan="4"></td>
<td style="height:12pt" colspan="4"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td colspan="2" style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td colspan="2" align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"><span style="font-weight:bold">For</span></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td colspan="2" align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"><span style="font-weight:bold">Against</span></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td colspan="2" align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"><span style="font-weight:bold">Abstain</span></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td colspan="2" align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"><span style="font-weight:bold">Broker<br /><span style="white-space:nowrap">Non-Votes</span></span></td>
<td style="vertical-align:bottom">&#160;</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top">5.</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:top">To ratify the selection of KPMG LLP as the Company&#8217;s independent registered public accounting firm for the fiscal year ending December&#160;31, 2023.</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">26,021,339</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">36,811</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">34,170</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">&#8212;&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td></tr>
</table> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">After considering the advisory, <span style="white-space:nowrap">non-binding</span> recommendation of the Company&#8217;s stockholders to hold future advisory votes regarding the compensation of the Company&#8217;s named executive officers <span style="white-space:nowrap"><span style="white-space:nowrap">(&#8220;Say-on-Pay</span></span> Votes&#8221;) every three years, the Board determined that the Company will hold a <span style="white-space:nowrap"><span style="white-space:nowrap">Say-on-Pay</span></span> Vote every three years, with the next <span style="white-space:nowrap"><span style="white-space:nowrap">Say-on-Pay</span></span> Vote to be held at the Company&#8217;s 2026 Annual Meeting of Stockholders. The next advisory stockholder vote on the frequency of future <span style="white-space:nowrap"><span style="white-space:nowrap">Say-on-Pay</span></span> Votes will be held at the Company&#8217;s 2029 Annual Meeting of Stockholders. </p> <p style="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%" cellpadding="0" cellspacing="0">
<tr style="page-break-inside:avoid">
<td style="width:11%;vertical-align:top" align="left"><span style="font-weight:bold">Item&#160;9.01.</span></td>
<td align="left" style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:left">Financial Statements and Exhibits. </p></td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d)&#160;&#160;&#160;&#160; Exhibits </p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table cellspacing="0" cellpadding="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:96%;border:0;margin:0 auto">


<tr>

<td></td>

<td style="vertical-align:bottom;width:4%"></td>
<td style="width:93%"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td style="vertical-align:bottom;white-space:nowrap" align="center"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:inline-block; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Exhibit<br />No.</p></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman;font-weight:bold">Description</p></td></tr>


<tr style="font-size:1pt">
<td style="height:6pt"></td>
<td style="height:6pt" colspan="2"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top;white-space:nowrap">99.1</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:top"><a href="d492817dex991.htm">Form Option Agreement. </a></td></tr>
<tr style="font-size:1pt">
<td style="height:6pt"></td>
<td style="height:6pt" colspan="2"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top;white-space:nowrap">99.2</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:top"><a href="d492817dex992.htm">Form RSU Agreement.</a></td></tr>
<tr style="font-size:1pt">
<td style="height:6pt"></td>
<td style="height:6pt" colspan="2"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top;white-space:nowrap">99.3</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:top"><a href="d492817dex993.htm">Form PSU Agreement.</a></td></tr>
<tr style="font-size:1pt">
<td style="height:6pt"></td>
<td style="height:6pt" colspan="2"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top;white-space:nowrap">104</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:top">Cover Page Interactive Data File (embedded within the Inline XBRL document).</td></tr>
</table>
</div></div>



<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<hr style="color:#999999;height:3px;width:100%" />

<div style="text-align:center"><div style="width:8.5in;text-align:left;margin-left: auto;margin-right: auto">
 <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:center">SIGNATURE </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. </p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table cellspacing="0" cellpadding="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:100%;border:0">


<tr>

<td style="width:44%"></td>

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<td style="width:44%"></td></tr>


<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top">Date: May&#160;30, 2023</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom" colspan="3"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">MicroStrategy Incorporated</p> <p style="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">(Registrant)</p></td></tr>
<tr style="font-size:1pt">
<td style="height:12pt"></td>
<td style="height:12pt" colspan="2"></td>
<td style="height:12pt" colspan="2"></td>
<td style="height:12pt" colspan="2"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:top">By:</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom"> <p style="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ W. Ming Shao</p></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:top">Name:</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">W. Ming Shao</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:top">Title:</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">Senior Executive Vice President&#160;&amp; General Counsel</td></tr>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>d492817dex991.htm
<DESCRIPTION>EX-99.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.1</TITLE>
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 <BODY BGCOLOR="WHITE">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">MICROSTRATEGY INCORPORATED </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">Nonstatutory Stock Option Agreement </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><U>Granted Under 2023 Equity Incentive Plan </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:12pt; font-family:Times New Roman" ALIGN="justify">MicroStrategy Incorporated, a Delaware corporation, hereby grants the following stock option pursuant to its 2023 Equity
Incentive Plan.&nbsp;This Notice of Grant and the attached Terms and Conditions (which constitute a part hereof) are collectively the &#147;Agreement&#148;. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><U>Notice of Grant </U></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" ALIGN="center">


<TR>

<TD WIDTH="51%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.42em; font-size:12pt; font-family:Times New Roman">Name of optionee (the &#147;<U>Participant</U>&#148;):</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.42em; font-size:12pt; font-family:Times New Roman">Grant Date:</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.42em; font-size:12pt; font-family:Times New Roman">Number of shares of Common Stock subject to this option
(&#147;<U>Shares</U>&#148;):</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.42em; font-size:12pt; font-family:Times New Roman">Option exercise price per Share:</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.42em; font-size:12pt; font-family:Times New Roman">Vesting Start Date:</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.42em; font-size:12pt; font-family:Times New Roman">Final Exercise Date:</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">Vesting Schedule: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>

<TD WIDTH="51%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" STYLE="BORDER:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.42em; font-size:12pt; font-family:Times New Roman">Vesting Date:</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">Percentage of Option that Vests:</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" STYLE="BORDER:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.42em; font-size:12pt; font-family:Times New Roman">[]</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">[]% of the Option</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" COLSPAN="3" ALIGN="center" STYLE="BORDER:1px solid #000000; padding-left:8pt; padding-right:2pt">[Insert Additional Vesting Dates and Amounts, as needed]</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" COLSPAN="3" STYLE="BORDER:1px solid #000000; padding-left:8pt; padding-right:2pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.42em; font-size:12pt; font-family:Times New Roman" ALIGN="justify">All vesting is
dependent on the Participant remaining an Eligible Participant, as provided herein, and is subject to Section&nbsp;3(b) below. The Participant shall be an &#147;<U>Eligible Participant</U>&#148; if he or she is an employee, director or officer of,
or consultant or advisor to, any entity included in the definition of the Company in the Plan (each, a &#147;<U>Specified Company</U>&#148;).</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:12pt; font-family:Times New Roman" ALIGN="justify">This grant of stock options satisfies in full all commitments that the Company has to the
Participant with respect to the issuance of stock, stock options or other equity securities under this Agreement. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="88%"></TD></TR>


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<TD VALIGN="top" COLSPAN="3">MICROSTRATEGY INCORPORATED</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title:</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">PARTICIPANT </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">This Agreement has
been accepted by: </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">###PARTICIPANT_NAME### </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">Dated:
###ACCEPTANCE_DATE### </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>MICROSTRATEGY INCORPORATED </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Nonstatutory Stock Option Agreement </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Granted Under 2023 Equity Incentive Plan </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1. <U>Grant of Option</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. This Agreement
evidences the grant by MicroStrategy Incorporated, a Delaware corporation (&#147;<U>MicroStrategy</U>&#148;), on the grant date, set forth in the Notice of Grant that forms part of this Agreement (the &#147;<U>Notice of Grant</U>&#148;), to the
Participant, of an option to purchase, in whole or in part, on the terms provided herein and in MicroStrategy&#146;s 2023 Equity Incentive Plan (the &#147;<U>Plan</U>&#148;), the number of Shares set forth in the Notice of Grant of class A common
stock, $0.001 par value per share, of MicroStrategy (&#147;<U>Common Stock</U>&#148;), at the exercise price per Share set forth in the Notice of Grant. Unless earlier terminated, this option shall expire at 5:00 p.m., Eastern time on the Final
Exercise Date set forth in the Notice of Grant (the &#147;<U>Final Exercise Date</U>&#148;). To accept this option, the Participant must accept this Agreement within six (6)&nbsp;months of the Grant Date. If this Agreement is not accepted within six
(6)&nbsp;months of the Grant Date, the Company&#146;s grant of the option under this Agreement will be withdrawn and cease to be in effect and the Participant shall have no rights to any options under this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">It is intended that the option evidenced by this Agreement shall not be an incentive stock option as defined in Section&nbsp;422 of the
Internal Revenue Code of 1986, as amended, and any regulations promulgated thereunder (the &#147;<U>Code</U>&#148;). Except as otherwise indicated by the context, the term &#147;Participant&#148;, as used in this option, shall be deemed to include
any person who acquires the right to exercise this option validly under its terms. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2. <U>Vesting Schedule</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This option will become exercisable (&#147;<U>vest</U>&#148;) in accordance with the Vesting Schedule set forth in the Notice of Grant. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The right of exercise shall be cumulative so that to the extent the option is not exercised in any period to the maximum extent permissible it
shall continue to be exercisable, in whole or in part, with respect to all Shares for which it is vested until the earlier of the Final Exercise Date or the termination of this option under Section&nbsp;4 hereof or the Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">3. <U>Change in Control Events</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a)
<U>Definitions</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) &#147;<U>Adverse Event</U>&#148; shall mean the occurrence of (x)&nbsp;any material diminution in the
Participant&#146;s authority, duties, responsibility, or base compensation, or (y)&nbsp;the requirement by the Company that the Participant principally works at a location that is more than 50 miles from the Participant&#146;s principal work
location immediately prior to the Change in Control Event. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) &#147;<U>Cause</U>&#148; shall mean willful misconduct by the Participant or willful
failure by the Participant to perform his or her responsibilities to any Specified Company (including, without limitation, breach by the Participant of any provision of any employment, consulting, advisory, nondisclosure, <FONT
STYLE="white-space:nowrap">non-competition</FONT> or other similar agreement between the Participant and any Specified Company), as determined by MicroStrategy, which determination shall be conclusive. Notwithstanding the foregoing, if the
Participant is party to an employment, consulting or severance agreement with a Specified Company that contains a definition of &#147;cause&#148; for termination of employment or other relationship as an Eligible Participant, &#147;Cause&#148; shall
have the meaning ascribed to such term in such agreement. The Participant&#146;s employment or other relationship as an Eligible Participant shall be considered to have been terminated for &#147;Cause&#148; if MicroStrategy determines no later than
30 days after the Participant&#146;s termination of employment or other relationship as an Eligible Participant, that termination for Cause was warranted. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) A &#147;<U>Change in Control Event</U>&#148; shall mean: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) the acquisition by an individual, entity or group (within the meaning of Section&nbsp;13(d)(3) or 14(d)(2) of the
Securities Exchange Act of 1934, as amended (the &#147;<U>Exchange Act</U>&#148;)) (a &#147;<U>Person</U>&#148;) of beneficial ownership of any capital stock of MicroStrategy after the date hereof if, after such acquisition, such Person beneficially
owns (within the meaning of Rule <FONT STYLE="white-space:nowrap">13d-3</FONT> under the Exchange Act) 50% or more of the combined voting power of the then-outstanding securities of MicroStrategy entitled to vote generally in the election of
directors (the &#147;<U>Outstanding Company Voting Securities</U>&#148;); provided, however, that for purposes of this subsection (A), the following acquisitions shall not constitute a Change in Control Event: (I)&nbsp;any acquisition directly from
MicroStrategy (excluding an acquisition pursuant to the exercise, conversion or exchange of any security exercisable for, convertible into or exchangeable for Common Stock, class B common stock, par value $0.001 per share of MicroStrategy
(&#147;<U>Class</U><U></U><U>&nbsp;B Common Stock</U>&#148;) or other voting securities of MicroStrategy, unless the Person exercising, converting or exchanging such security acquired such security directly from MicroStrategy or an underwriter or
agent of MicroStrategy), (II) any acquisition by any corporation pursuant to a Business Combination (as defined below) which complies with clauses (x)&nbsp;and (y) of subsection (C)&nbsp;of this definition, (III)&nbsp;any transfer by Michael J.
Saylor or any of his affiliates (within the meaning of Rule <FONT STYLE="white-space:nowrap">12b-2</FONT> of the Exchange Act) (the &#147;<U>MS Affiliates</U>&#148;) to Michael J. Saylor or any MS Affiliate or (IV)&nbsp;any acquisition by Michael J.
Saylor or any MS Affiliate not pursuant to a Business Combination, except for an acquisition that results in any of the effects described in paragraph (a)(3)(ii)(B) of Rule <FONT STYLE="white-space:nowrap">13e-3</FONT> under the Exchange Act (or any
successor provision) with respect to the Common Stock; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) on any date after Michael J. Saylor and the MS Affiliates
cease to own in the aggregate more than 50% of the combined voting power of the Outstanding Company Voting Securities (the &#147;<U>Applicable Date</U>&#148;), there is a change in the composition of the Board that results in the Continuing
Directors (as defined below) no longer constituting a majority of the Board (or, if applicable, the board of directors of a successor corporation to MicroStrategy), where the term &#147;Continuing Director&#148; means at any date a member of the
Board (x)&nbsp;who was a member of the Board on the date immediately prior to the Applicable Date or (y)&nbsp;who was nominated or elected subsequent to the Applicable Date by at least a majority of the directors who were Continuing Directors at the
time of such nomination or election or whose election to the Board was recommended or endorsed by at least a majority of the directors who were Continuing Directors at the time of such nomination or election; provided, however, that there shall be
excluded from this clause (y)&nbsp;any individual whose initial assumption of office occurred as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of
proxies or consents, by or on behalf of a person other than the Board; or </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) the consummation of a merger, consolidation, reorganization,
recapitalization or share exchange involving MicroStrategy or a sale or other disposition of all or substantially all of the assets of MicroStrategy (a &#147;<U>Business Combination</U>&#148;), unless, immediately following such Business
Combination, each of the following two conditions is satisfied: (x)&nbsp;all or substantially all of the individuals and entities who were the beneficial owners of the outstanding shares of the Common Stock and Class&nbsp;B Common Stock and any
other Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of the combined voting power of the then-outstanding securities entitled to vote generally in the
election of directors, respectively, of the resulting or acquiring corporation in such Business Combination (which shall include, without limitation, a corporation which as a result of such transaction owns MicroStrategy or substantially all of
MicroStrategy&#146;s assets either directly or through one or more subsidiaries) (such resulting or acquiring corporation is referred to herein as the &#147;<U>Acquiring Corporation</U>&#148;) in substantially the same proportions as their ownership
of the Common Stock, Class&nbsp;B Common Stock and such other Outstanding Company Voting Securities, respectively, immediately prior to such Business Combination and (y)&nbsp;no Person (excluding Michael J. Saylor or any MS Affiliate, any employee
benefit plan (or related trust) maintained or sponsored by MicroStrategy or by the Acquiring Corporation or any Person who beneficially owned, directly or indirectly, 50% or more of the combined voting power of the Outstanding Company Voting
Securities prior to the Business Combination) beneficially owns, directly or indirectly, 50% or more of the combined voting power of the then-outstanding securities of such corporation entitled to vote generally in the election of directors;
provided, however, that for the avoidance of doubt, the consummation of any Business Combination that results in any of the effects described in paragraph (a)(3)(ii)(B) of Rule <FONT STYLE="white-space:nowrap">13e-3</FONT> under the Exchange Act (or
any successor provision) with respect to the Common Stock shall be deemed not to satisfy the condition set forth in clause (x). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv)
&#147;<U>Good Reason</U>&#148; shall mean the occurrence of an Adverse Event, in each case, after the Change in Control Event. Notwithstanding the foregoing, an Adverse Event shall not be deemed to constitute Good Reason unless (x)&nbsp;the
Participant gives MicroStrategy or the Acquiring Corporation, as applicable, notice of termination of employment or other relationship as an Eligible Participant no more than 90 days after the initial occurrence of the Adverse Event, (y)&nbsp;such
Adverse Event has not been fully corrected and the Participant has not been reasonably compensated for any losses or damages resulting therefrom within 30 days of MicroStrategy&#146;s or the Acquiring Corporation&#146;s receipt of such notice and
(z)&nbsp;the Participant&#146;s termination of employment or other relationship as an Eligible Participant occurs within six (6)&nbsp;months following MicroStrategy&#146;s or the Acquiring Corporation&#146;s receipt of such notice. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <U>Effect on Option</U>. Notwithstanding the provisions of Section&nbsp;10(b) of the Plan or Section&nbsp;2 above, in the event of a
Change in Control Event: </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) If the Change in Control Event also constitutes a Reorganization Event (as defined in
the Plan) and this option is not assumed, or a substantially equivalent option substituted, by the Acquiring Corporation, this option shall automatically become exercisable in full immediately prior to such Change in Control Event; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) If either the Change in Control Event is also a Reorganization Event and the option is assumed or a substantially equivalent option
substituted or the Change in Control Event is not a Reorganization Event, then in either such case this option shall continue to vest in accordance with the original vesting schedule set forth in Section&nbsp;2 above; provided, however, that this
option shall be immediately exercisable in full if, on or prior to the first anniversary of the date of the consummation of the Change in Control Event, the Participant&#146;s employment or other relationship as an Eligible Participant with the
Company or the Acquiring Corporation is terminated for Good Reason by the Participant or is terminated without Cause by the Company or the Acquiring Corporation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">4. <U>Exercise of Option</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <U>Form of
Exercise</U>. Each election to exercise this option shall be in writing, signed by the Participant (which election and signature may be electronic, to the extent provided by the Company), and received by MicroStrategy at its principal office,
accompanied by this Agreement, and payment in full in the manner provided in the Plan. The Participant is only permitted to use the methods of payment in Sections 5(f)(i) and 5(f)(ii) of the Plan and, to the extent approved by the Board, any other
lawful consideration permitted under the Plan as the Board may determine, including by combination of any of the foregoing permitted forms of payment. The Participant may purchase less than the number of shares covered hereby; provided, however, no
partial exercise of this option may be for any fractional share. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <U>Continuous Relationship with the Company Required</U>. Except as
otherwise provided in this Section&nbsp;4, this option may not be exercised unless the Participant, at the time he or she exercises this option, is, and has been at all times since the Grant Date, an Eligible Participant. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <U>Termination of Relationship with the Company</U>. If the Participant ceases to be an Eligible Participant for any reason, then, except
as provided in paragraphs (d)&nbsp;and (e) below, the right to exercise this option shall terminate three months after such cessation (but in no event after the Final Exercise Date); provided, however, this option shall be exercisable only to the
extent that the Participant was entitled to exercise this option on the date of such cessation. Notwithstanding the foregoing, if the Participant, prior to the Final Exercise Date, violates the <FONT STYLE="white-space:nowrap">non-competition</FONT>
or confidentiality provisions of any employment contract, confidentiality and nondisclosure agreement or other agreement between the Participant and with any Specified Company, the right to exercise this option shall terminate immediately upon such
violation. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <U>Exercise Period Upon Death or Disability</U>. If the Participant dies or becomes disabled (within the meaning of
Section&nbsp;22(e)(3) of the Code) prior to the Final Exercise Date while he or she is an Eligible Participant and no Specified Company has terminated such relationship for &#147;Cause&#148; as specified in paragraph (e)&nbsp;below, this option
shall be exercisable, within the period of one year following the date of death or disability of the Participant, by the Participant (or in the case of death by an authorized transferee), provided, however, this option shall be exercisable only to
the extent that this option was exercisable by the Participant on the date of his or her death or disability, and provided, further, that this option shall not be exercisable after the Final Exercise Date. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <U>Termination for Cause</U>. If, prior to the Final Exercise Date, the
Participant&#146;s employment or other relationship as an Eligible Participant with a Specified Company is terminated for Cause, the right to exercise this option shall terminate immediately upon the effective time of such termination of employment
or other relationship as an Eligible Participant; provided, however, if the determination that the Participant is terminated for Cause is made by the Specified Company after the time of such termination of employment or other relationship as an
Eligible Participant, the right to exercise this option shall terminate immediately upon the date the Participant is given notice by a Specified Company that the Specified Company has determined that the termination is for Cause (or such other date,
not later than the Final Exercise Date, that is specified in such notice). If, prior to the Final Exercise Date, the Participant is given notice by a Specified Company of the termination of his or her employment or other relationship as an Eligible
Participant by a Specified Company for Cause, and the effective time of such employment or other termination is subsequent to the time of the delivery of such notice, the right to exercise this option shall be suspended from the time of the delivery
of such notice until the earlier of (x)&nbsp;such time as it is determined or otherwise agreed that the Participant&#146;s employment or other relationship as an Eligible Participant shall not be terminated for Cause as provided in such notice or
(y)&nbsp;the effective time of such termination of employment or other relationship as an Eligible Participant (in which case the right to exercise this option shall, pursuant to the preceding sentence, terminate immediately upon the effective time
of such termination of employment or other relationship as an Eligible Participant). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">5. <U>Withholding</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">No Shares will be issued pursuant to the exercise of this option unless and until the Participant pays to the Company, or makes provision
satisfactory to MicroStrategy for payment of, any federal, state or local withholding taxes required by law to be withheld in respect of this option. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">6.
<U>Nontransferability of Option</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This option shall not be sold, assigned, transferred, pledged or otherwise encumbered by the
Participant, either voluntarily or by operation of law, except by will or the laws of descent and distribution or, pursuant to a qualified domestic relations order, and, during the life of the Participant, shall be exercisable only by the
Participant; provided, however, that, this option may be gratuitously transferred by the Participant to or for the benefit of any immediate family member, family trust or other entity established for the benefit of the Participant and/or an
immediate family member thereof if the Company would be eligible to use a Form <FONT STYLE="white-space:nowrap">S-8</FONT> under the Securities Act for the registration of the sale of the Common Stock subject to this option to such proposed
transferee; provided further, that the Company shall not be required to recognize any such permitted transfer until such time as such permitted transferee shall, as a condition to such transfer, deliver to the Company a written instrument in form
and substance satisfactory to the Company confirming that such transferee shall be bound by all of the terms and conditions of this option. For the avoidance of doubt, nothing contained in this Section&nbsp;6 shall be deemed to restrict a transfer
to the Company. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">No interest or right in this option shall be liable for the debts, contracts or engagements
of the Participant or his or her successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation
of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition of an interest or right in this option shall be null and void and of no effect, except to the extent
that such disposition is permitted by the preceding provisions of this Section&nbsp;6. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">7. <U>Data Privacy</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In order to assist in the administration of the Plan, the Company may process personal data about the Participant. Such data includes but is
not limited to the information provided in this Agreement and any changes thereto, other appropriate personal and financial data about the Participant such as home address and business addresses and other contact information, payroll information and
any other information that might be deemed appropriate by the Company to facilitate the administration of the Plan. By accepting this option, the Participant gives explicit consent to the Company to process any such personal data. The Participant
also gives explicit consent to the Company to transfer any such personal data outside or within the country in which the Participant works or is employed, including, with respect to <FONT STYLE="white-space:nowrap">non-U.S.</FONT> resident
Participants, to the United States, to transferees who shall include the Company, a broker retained by the Participant or the Company for the purpose of assisting with an exercise of options and other persons who are designated by the Company to
administer or assist with the implementation, administration or management of the Plan. The Participant may object to the collection, use, processing or transfer of such data by notifying the General Counsel of MicroStrategy in writing. The
Participant understands that such objection may impair his or her ability to participate in the Plan.&nbsp;&nbsp;&nbsp;&nbsp; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">8. <U>Provisions of the
Plan</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This option is subject to the provisions of the Plan (including the provisions relating to amendments to the Plan), a copy of
which is furnished to the Participant with this option. Capitalized terms used herein and not otherwise defined shall have the meanings ascribed to them in the Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9. <U>Participant&#146;s Acknowledgements</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Participant acknowledges that he or she:&nbsp;(i) has read this Agreement; (ii)&nbsp;has been represented in the preparation, negotiation
and execution of this Agreement by legal counsel of the Participant&#146;s own choice or has voluntarily declined to seek such counsel; (iii)&nbsp;understands the terms and consequences of this Agreement; (iv)&nbsp;is fully aware of the legal and
binding effect of this Agreement; and (v)&nbsp;agrees that in accepting this award, he or she will be bound by any clawback policy that the Company may adopt in the future. To accept this award, the Participant acknowledges that they must accept
this Agreement within six (6)&nbsp;months of the Grant Date. If this Agreement is not accepted within six (6)&nbsp;months of the Grant Date, the Company&#146;s grant of the options under this Agreement will be withdrawn and cease to be in effect and
the Participant shall have no rights to any options under this Agreement. </P>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">MICROSTRATEGY INCORPORATED </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">Restricted Stock Unit Agreement </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><U>Granted Under 2023 Equity Incentive Plan </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:12pt; font-family:Times New Roman" ALIGN="justify">MicroStrategy Incorporated, a Delaware corporation (the &#147;<U>Company</U>&#148;), hereby grants the following restricted
stock units pursuant to its 2023 Equity Incentive Plan.&nbsp;This Notice of Grant and the attached Terms and Conditions (which constitute a part hereof) are collectively the &#147;Agreement&#148;.</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><U>Notice of Grant </U></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" ALIGN="center">


<TR>

<TD WIDTH="51%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.42em; font-size:12pt; font-family:Times New Roman">Name of recipient (the &#147;<U>Participant</U>&#148;):</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.42em; font-size:12pt; font-family:Times New Roman">Grant Date:</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.42em; font-size:12pt; font-family:Times New Roman">Number of restricted stock units (&#147;<U>RSUs</U>&#148;)
granted:</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.42em; font-size:12pt; font-family:Times New Roman">Number, if any, of RSUs that vest immediately on the Grant
Date:</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.42em; font-size:12pt; font-family:Times New Roman">RSUs that are subject to vesting schedule:</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.42em; font-size:12pt; font-family:Times New Roman">Vesting Start Date:</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">Vesting Schedule: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" ALIGN="center">


<TR>

<TD WIDTH="51%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" STYLE="BORDER:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.42em; font-size:12pt; font-family:Times New Roman">Vesting Date:</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">Number of RSUs that Vest:</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" STYLE="BORDER:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.42em; font-size:12pt; font-family:Times New Roman">[]</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">[]% of the RSUs</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" COLSPAN="3" ALIGN="center" STYLE="BORDER:1px solid #000000; padding-left:8pt; padding-right:2pt">[Insert Additional Vesting Dates and Amounts, as needed]</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" COLSPAN="3" STYLE="BORDER:1px solid #000000; padding-left:8pt; padding-right:2pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.42em; font-size:12pt; font-family:Times New Roman" ALIGN="justify">All vesting is
dependent on the Participant remaining an Eligible Participant, as provided herein, and is subject to Section&nbsp;3(b) below. The Participant shall be an &#147;<U>Eligible Participant</U>&#148; if he or she is an employee, director or officer of,
or consultant or advisor to, any entity included in the definition of the Company in the Plan (each, a &#147;<U>Specified Company</U>&#148;).</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:12pt; font-family:Times New Roman" ALIGN="justify">This grant of RSUs satisfies in full all commitments that the Company has to the Participant
with respect to the issuance of stock, stock options or other equity securities under this Agreement. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt">


<TR>

<TD WIDTH="11%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="88%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" COLSPAN="3">MICROSTRATEGY INCORPORATED</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title:</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">PARTICIPANT </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">This Agreement has
been accepted by: </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">###PARTICIPANT_NAME### </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">Dated:
###ACCEPTANCE_DATE### </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">MICROSTRATEGY INCORPORATED </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Restricted Stock Unit Agreement </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Incorporated Terms and Conditions </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <U>Award of Restricted Stock Units</U>. In consideration of services rendered and to be rendered to the Company, by the Participant, the
Company has granted to the Participant, subject to the terms and conditions set forth in this Restricted Stock Unit Agreement (this &#147;<U>Agreement</U>&#148;)<U> </U>and in the Company&#146;s 2023 Equity Incentive Plan (the
&#147;<U>Plan</U>&#148;), an award with respect to the number of RSUs set forth in the Notice of Grant that forms part of this Agreement (the &#147;<U>Notice of Grant</U>&#148;).&nbsp;Each RSU represents the right to receive one share of class A
common stock, $0.001 par value per share, of the Company (the &#147;<U>Common Stock</U>&#148;) upon vesting of the RSU, subject to the terms and conditions set forth herein.&nbsp;To accept this award, the Participant must accept this Agreement
within six (6)&nbsp;months of the Grant Date. If this Agreement is not accepted within six (6)&nbsp;months of the Grant Date, the Company&#146;s grant of RSUs under this Agreement will be withdrawn and cease to be in effect and the Participant shall
have no rights to any RSUs under this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. <U>Definitions</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) &#147;<U>Adverse Event</U>&#148; shall mean the occurrence of (x)&nbsp;any material diminution in the Participant&#146;s authority, duties,
responsibility, or base compensation, or (y)&nbsp;the requirement by the Company that the Participant principally works at a location that is more than 50 miles from the Participant&#146;s principal work location immediately prior to the Change in
Control Event. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) &#147;<U>Cause</U>&#148; shall mean willful misconduct by the Participant or willful failure by the Participant to
perform his or her responsibilities to any Specified Company (including, without limitation, breach by the Participant of any provision of any employment, consulting, advisory, nondisclosure, <FONT STYLE="white-space:nowrap">non-competition</FONT>
or other similar agreement between the Participant and any Specified Company), as determined by the Company, which determination shall be conclusive. Notwithstanding the foregoing, if the Participant is party to an employment, consulting or
severance agreement with a Specified Company that contains a definition of &#147;cause&#148; for termination of employment or other relationship as an Eligible Participant, &#147;Cause&#148; shall have the meaning ascribed to such term in such
agreement. The Participant&#146;s employment or other relationship as an Eligible Participant shall be considered to have been terminated for &#147;Cause&#148; if the Company determines no later than 30 days after the Participant&#146;s termination
of employment or other relationship as an Eligible Participant, that termination for Cause was warranted. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(c) A &#147;<U>Change in Control
Event</U>&#148; shall mean any of the following, provided that such event constitutes a &#147;change in control event&#148; within the meaning of Section&nbsp;409A of the Code: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) the acquisition by an individual, entity or group (within the meaning of Section&nbsp;13(d)(3) or 14(d)(2) of the Securities Exchange Act
of 1934, as amended (the &#147;<U>Exchange Act</U>&#148;)) (a &#147;<U>Person</U>&#148;) of beneficial ownership of any capital stock of the Company after the date hereof if, after such acquisition, such Person beneficially owns (within the meaning
of </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Rule <FONT STYLE="white-space:nowrap">13d-3</FONT> under the Exchange Act) 50% or more of the combined voting power of the then-outstanding securities of the Company entitled to vote generally in
the election of directors (the &#147;<U>Outstanding Company Voting Securities</U>&#148;); provided, however, that for purposes of this subsection (i), the following acquisitions shall not constitute a Change in Control Event: (I)&nbsp;any
acquisition directly from the Company (excluding an acquisition pursuant to the exercise, conversion or exchange of any security exercisable for, convertible into or exchangeable for Common Stock, class B common stock, par value $0.001 per share of
the Company (&#147;<U>Class</U><U></U><U>&nbsp;B Common Stock</U>&#148;) or other voting securities of the Company, unless the Person exercising, converting or exchanging such security acquired such security directly from the Company or an
underwriter or agent of the Company), (II) any acquisition by any corporation pursuant to a Business Combination (as defined&nbsp;in paragraph 2(b)(iii)&nbsp;below) which complies with clauses (x)&nbsp;and (y) of subsection (iii)&nbsp;of this
definition, (III)&nbsp;any transfer by Michael J. Saylor or any of his affiliates (within the meaning of Rule <FONT STYLE="white-space:nowrap">12b-2</FONT> of the Exchange Act) (the &#147;<U>MS Affiliates</U>&#148;) to Michael J. Saylor or any MS
Affiliate or (IV)&nbsp;any acquisition by Michael J. Saylor or any MS Affiliate not pursuant to a Business Combination, except for an acquisition that results in any of the effects described in paragraph (a)(3)(ii)(B) of Rule <FONT
STYLE="white-space:nowrap">13e-3</FONT> under the Exchange Act (or any successor provision) with respect to the Common Stock; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) on
any date after Michael J. Saylor and the MS Affiliates cease to own in the aggregate more than 50% of the combined voting power of the Outstanding Company Voting Securities (the &#147;<U>Applicable Date</U>&#148;), there is a change in the
composition of the board of the Company (the &#147;<U>Board</U>&#148;) that results in the Continuing Directors (as defined below) no longer constituting a majority of the Board (or, if applicable, the board of directors of a successor corporation
to the Company), where the term &#147;<U>Continuing Director</U>&#148; means at any date a member of the Board (x)&nbsp;who was a member of the Board on the date immediately prior to the Applicable Date or (y)&nbsp;who was nominated or elected
subsequent to the Applicable Date by at least a majority of the directors who were Continuing Directors at the time of such nomination or election or whose election to the Board was recommended or endorsed by at least a majority of the directors who
were Continuing Directors at the time of such nomination or election; provided, however, that there shall be excluded from this clause (y)&nbsp;any individual whose initial assumption of office occurred as a result of an actual or threatened
election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents, by or on behalf of a person other than the Board; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii) the consummation of a merger, consolidation, reorganization, recapitalization or share exchange involving the Company or a sale or other
disposition of all or substantially all of the assets of the Company (a &#147;<U>Business Combination</U>&#148;), unless, immediately following such Business Combination, each of the following two conditions is satisfied: (x)&nbsp;all or
substantially all of the individuals and entities who were the beneficial owners of the outstanding shares of the Common Stock and Class&nbsp;B Common Stock and any other Outstanding Company Voting Securities immediately prior to such Business
Combination beneficially own, directly or indirectly, more than 50% of the combined voting power of the then-outstanding securities entitled to vote generally in the election of directors, respectively, of the resulting or acquiring corporation in
such Business Combination (which shall include, without limitation, a corporation which as a result of such transaction owns the Company or substantially all of the Company&#146;s assets either directly or through one or more subsidiaries) (such
resulting or acquiring corporation is referred to herein as the &#147;<U>Acquiring Corporation</U>&#148;) in substantially the </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
same proportions as their ownership of the Common Stock, Class&nbsp;B Common Stock and such other Outstanding Company Voting Securities, respectively, immediately prior to such Business
Combination and (y)&nbsp;no Person (excluding Michael J. Saylor or any MS Affiliate, any employee benefit plan (or related trust) maintained or sponsored by the Company or by the Acquiring Corporation or any Person who beneficially owned, directly
or indirectly, 50% or more of the combined voting power of the Outstanding Company Voting Securities prior to the Business Combination) beneficially owns, directly or indirectly, 50% or more of the combined voting power of the then-outstanding
securities of such corporation entitled to vote generally in the election of directors; provided, however, that for the avoidance of doubt, the consummation of any Business Combination that results in any of the effects described in paragraph
(a)(3)(ii)(B) of Rule <FONT STYLE="white-space:nowrap">13e-3</FONT> under the Exchange Act (or any successor provision) with respect to the Common Stock shall be deemed not to satisfy the condition set forth in clause (x). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(d) &#147;<U>Good Reason</U>&#148; shall mean the occurrence of an Adverse Event, in each case, after the Change in Control Event.
Notwithstanding the foregoing, an Adverse Event shall not be deemed to constitute Good Reason unless (i)&nbsp;the Participant gives the Company or the Acquiring Corporation, as applicable, notice of termination of employment or other relationship as
an Eligible Participant no more than 90 days after the initial occurrence of the Adverse Event, (ii)&nbsp;such Adverse Event has not been fully corrected and the Participant has not been reasonably compensated for any losses or damages resulting
therefrom within 30 days of the Company&#146;s or the Acquiring Corporation&#146;s receipt of such notice and (iii)&nbsp;the Participant&#146;s termination of employment or other relationship as an Eligible Participant occurs within six
(6)&nbsp;months following the Company&#146;s or the Acquiring Corporation&#146;s receipt of such notice. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">3. <U>Vesting</U>.</P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(a) The RSUs shall vest in accordance with the Vesting Schedule set forth in the Notice of Grant (the &#147;<U>Vesting
Schedule</U>&#148;).&nbsp;Any fractional shares resulting from the application of any percentages used in the Vesting Schedule shall be rounded down to the nearest whole number of RSUs. Upon each Vesting Date (or, if applicable, an earlier vesting
date pursuant to Section&nbsp;3(b) below, which, in such event, shall also be hereinafter referred to as the &#147;<U>Vesting Date</U>&#148;), the Company shall settle the vested portion of the RSUs and shall therefore, subject to the payment of any
taxes pursuant to Section&nbsp;8(b),&nbsp;issue and deliver to the Participant one share of Common Stock for each RSU that vests on such Vesting Date (the &#147;<U>RSU Shares</U>&#148;). Alternatively, the Board may, in its sole discretion, elect to
pay cash or part cash and part RSU Shares in lieu of settling the RSUs that vest on such Vesting Date solely in RSU Shares (such discretion of the Board to settle in cash shall not apply to a Participant who is subject to Canadian tax, whose shares
must be settled in previously unissued shares). If a cash payment is made in lieu of delivering RSU Shares, the amount of such payment shall be equal to the fair market value (as determined by the Board) of the RSU Shares as of the Vesting Date less
an amount equal to any federal, state, local and other taxes of any kind required to be withheld with respect to the vesting of the RSUs.&nbsp;The RSUs or any cash payment in lieu of RSU Shares will be delivered to the Participant as soon as
practicable following each Vesting Date, but in any event within 30 days of such date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(b) Notwithstanding the provisions of
Section&nbsp;10(b) of the Plan or Section&nbsp;3(a) above, in the event of a Change in Control Event: </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:18%; font-size:10pt; font-family:Times New Roman">(i) If the Change in Control Event also constitutes a Reorganization Event (as defined in
the Plan) and the RSUs are not assumed, or substantially equivalent RSUs substituted, by the Acquiring Corporation, these RSUs shall automatically become vested in full immediately prior to such Change in Control Event; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:18%; font-size:10pt; font-family:Times New Roman">(ii) If either the Change in Control Event is also a Reorganization Event and these RSUs are assumed or substantially equivalent RSUs are
substituted or the Change in Control Event is not a Reorganization Event, then in either case these RSUs shall continue to vest in accordance with the Vesting Schedule; provided, however, that these RSUs shall immediately become vested in full if,
on or prior to the first anniversary of the date of the consummation of the Change in Control Event, the Participant&#146;s employment or other relationship as an Eligible Participant with the Company or the Acquiring Corporation is terminated for
Good Reason by the Participant or is terminated without Cause by the Company or the Acquiring Corporation. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4. <U>Forfeiture of Unvested
RSUs Upon Cessation of Service</U>.&nbsp;In the event that the Participant ceases to be an Eligible Participant for any reason or no reason, with or without Cause, all of the RSUs that are unvested as of the time of such cessation shall be forfeited
immediately and automatically to the Company, without the payment of any consideration to the Participant, effective as of such cessation.&nbsp;The Participant shall have no further rights with respect to the unvested RSUs or any Common Stock that
may have been issuable with respect thereto.</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5. <U>Restrictions on Transfer</U>.&nbsp;The Participant shall not sell, assign, transfer,
pledge, hypothecate, encumber or otherwise dispose of, by operation of law or otherwise (collectively &#147;transfer&#148;) any RSUs, or any interest therein. The Company shall not be required to treat as the owner of any RSUs or issue any Common
Stock or make any cash payment, to any transferee to whom such RSUs have been transferred in violation of any of the provisions of this Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6. <U>Rights as a Stockholder</U>.&nbsp;The Participant shall have no rights as a stockholder of the Company with respect to any shares of
Common Stock that may be issuable with respect to the RSUs until the issuance of the shares of Common Stock to the Participant following the vesting of the RSUs.</P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7. <U>Provisions of the Plan</U>.&nbsp;This Agreement is subject to the provisions of the Plan, a copy of which is furnished to the Participant
with this Agreement.&nbsp;Capitalized terms used herein and not otherwise defined shall have the meanings ascribed to them in the Plan. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.
<U>Tax Matters</U>.</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) <U>Acknowledgments; No Section</U><U></U><U>&nbsp;83(b) Election</U>.&nbsp;The Participant acknowledges that he or
she is responsible for obtaining the advice of the Participant&#146;s own tax advisors with respect to the award of RSUs and the Participant is relying solely on such advisors and not on any statements or representations of the Company or any of its
agents with respect to the tax consequences relating to the RSUs.&nbsp;The Participant understands that the Participant (and not the Company) shall be responsible for the Participant&#146;s tax liability that may arise in connection with the
acquisition, vesting and/or disposition of the RSUs.&nbsp;The Participant acknowledges that no election under Section&nbsp;83(b) of the Internal Revenue Code of 1986, as amended, (the &#147;<U>Code</U>&#148;) is available with respect to RSUs.</P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(b) <U>Withholding</U>.&nbsp;The Participant acknowledges and agrees that the Company has
the right to deduct from payments of any kind otherwise due to the Participant any federal, state, local or other taxes of any kind required by law to be withheld with respect to the vesting of the RSUs. On each Vesting Date (or other date or time
at which the Company is required to withhold taxes associated with the RSUs), the Company will retain from the RSU Shares otherwise issuable on such date a number of shares of Common Stock having a fair market value (as determined by the Company)
equal to the Company&#146;s minimum statutory withholding obligation with respect to such taxable event.&nbsp;If the Company is unable to retain sufficient shares of Common Stock to satisfy such tax withholding obligation, the Participant
acknowledges and agrees that the Company or an affiliate of the Company shall be entitled to immediate payment from the Participant of the amount of any tax required to be withheld by the Company.&nbsp;The Company shall not deliver any RSU Shares to
the Participant until it is satisfied that all required withholdings have been made. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(c) <U>Section</U><U></U><U>&nbsp;409A</U>.&nbsp;The
RSUs awarded pursuant to this Agreement are intended to be exempt from or to comply with the requirements of Section&nbsp;409A of the Code and the Treasury Regulations issued thereunder (&#147;<U>Section</U><U></U><U>&nbsp;409A</U>&#148;).&nbsp;The
delivery of RSU Shares on the vesting of the RSUs may not be accelerated or deferred to dates or events other than those set forth herein, unless permitted or required by Section&nbsp;409A. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">9. <U>Data Privacy</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In order
to assist in the administration of the Plan, the Company may process personal data about the Participant. Such data includes but is not limited to the information provided in this Agreement and any changes thereto, other appropriate personal and
financial data about the Participant such as home address and business addresses and other contact information, payroll information and any other information that might be deemed appropriate by the Company to facilitate the administration of the
Plan. By accepting these RSUs, the Participant gives explicit consent to the Company to process any such personal data. The Participant also gives explicit consent to the Company to transfer any such personal data outside or within the country in
which the Participant works or is employed, including, with respect to <FONT STYLE="white-space:nowrap">non-U.S.</FONT> resident Participants, to the United States, to transferees who shall include the Company, a broker retained by the Participant
or the Company for the purpose of administering the RSUs and other persons who are designated by the Company to administer or assist with the implementation, administration or management of the Plan. The Participant may object to the collection,
use, processing or transfer of such data by notifying the General Counsel of MicroStrategy in writing. The Participant understands that such objection may impair his or her ability to participate in the Plan. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">10. <U>Participant&#146;s Acknowledgements</U>.</P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Participant acknowledges that he or she:&nbsp;(i) has read this Agreement; (ii)&nbsp;has been represented in the preparation, negotiation
and execution of this Agreement by legal counsel of the Participant&#146;s own choice or has voluntarily declined to seek such counsel; (iii)&nbsp;understands the terms and consequences of this Agreement; (iv)&nbsp;is fully aware of the legal and
binding effect of this Agreement; and (v)&nbsp;agrees that in accepting this award, he or she will be bound by any clawback policy that the Company may adopt in the future. To accept this award, the Participant acknowledges that they must accept
this Agreement within six (6)&nbsp;months of the Grant Date. If this Agreement is not accepted within six (6)&nbsp;months of the Grant Date, the Company&#146;s grant of RSUs under this Agreement will be withdrawn and cease to be in effect and the
Participant shall have no rights to any RSUs under this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">***** </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.3 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">MICROSTRATEGY INCORPORATED </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">Performance Stock Unit Agreement </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><U>Granted Under 2023 Equity Incentive Plan </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:12pt; font-family:Times New Roman" ALIGN="justify">MicroStrategy Incorporated, a Delaware corporation (the &#147;<U>Company</U>&#148;), hereby grants the following performance
stock units pursuant to its 2023 Equity Incentive Plan.&nbsp;This Notice of Grant and the attached Terms and Conditions (which constitute a part hereof) are collectively the &#147;Agreement.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><U>Notice of Grant </U></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" ALIGN="center">


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<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.42em; font-size:12pt; font-family:Times New Roman">Name of recipient (the &#147;<U>Participant</U>&#148;):</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.42em; font-size:12pt; font-family:Times New Roman">Grant Date:</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.42em; font-size:12pt; font-family:Times New Roman">Target number of performance stock units (&#147;<U>PSUs</U>&#148;)
granted:</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.42em; font-size:12pt; font-family:Times New Roman">Maximum number of PSUs:</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.42em; font-size:12pt; font-family:Times New Roman">Performance Period:</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">Vesting Schedule: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" STYLE="BORDER:1px solid #000000; padding-left:8pt; padding-right:2pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.42em; font-size:12pt; font-family:Times New Roman" ALIGN="justify">The PSUs will vest based on the
level of achievement of the performance goal for the Performance Period, as certified by the Compensation Committee of the Board (the &#147;Compensation Committee&#148;) following the end of the Performance Period, all as set forth in <U>Exhibit
A</U>. All vesting is dependent on the Participant remaining an Eligible Participant, except as otherwise provided herein, and is subject to <U>Exhibit A</U> below. The Participant shall be an &#147;<U>Eligible Participant</U>&#148; if he or she is
an employee, director or officer of, or consultant or advisor to, any entity included in the definition of the Company in the Plan (each, a &#147;<U>Specified Company</U>&#148;).</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:12pt; font-family:Times New Roman" ALIGN="justify">This grant of PSUs satisfies in full all commitments that the Company has to the Participant
with respect to the issuance of stock, stock options or other equity securities under this Agreement. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" COLSPAN="3">MICROSTRATEGY INCORPORATED</TD></TR>
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<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title:</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">PARTICIPANT </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">This Agreement has
been accepted by: </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">###PARTICIPANT_NAME### </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">Dated:
###ACCEPTANCE_DATE### </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">MICROSTRATEGY INCORPORATED </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Performance Stock Unit Agreement </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Incorporated Terms and Conditions </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <U>Award of Performance Stock Units</U>. In consideration of services rendered and to be rendered to the Company by the Participant, the
Company has granted to the Participant, subject to the terms and conditions set forth in this Performance Stock Unit Agreement (this &#147;<U>Agreement</U>&#148;)<U> </U>and in the Company&#146;s 2023 Equity Incentive Plan (the
&#147;<U>Plan</U>&#148;), an award with respect to the number of PSUs set forth in the Notice of Grant that forms part of this Agreement (the &#147;<U>Notice of Grant</U>&#148;).&nbsp;Each PSU represents the right to receive shares of class A common
stock, $0.001 par value per share, of the Company (the &#147;<U>Common Stock</U>&#148;) upon vesting of the PSU as determined pursuant to <U>Exhibit A</U>, and otherwise subject to the terms and conditions set forth herein.&nbsp;To accept this
award, the Participant must accept this Agreement within six (6)&nbsp;months of the Grant Date. If this Agreement is not accepted within six (6)&nbsp;months of the Grant Date, the Company&#146;s grant of PSUs under this Agreement will be withdrawn
and cease to be in effect and the Participant shall have no rights to any PSUs under this Agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. <U>Definitions</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) &#147;<U>Adverse Event</U>&#148; shall mean the occurrence of (x)&nbsp;any material diminution in the Participant&#146;s authority, duties,
responsibility, or base compensation, or (y)&nbsp;the requirement by the Company that the Participant principally work at a location that is more than 50 miles from the Participant&#146;s principal work location immediately prior to the Change in
Control Event. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) &#147;<U>Cause</U>&#148; shall mean willful misconduct by the Participant or willful failure by the Participant to
perform his or her responsibilities to any Specified Company (including, without limitation, breach by the Participant of any provision of any employment, consulting, advisory, nondisclosure, <FONT STYLE="white-space:nowrap">non-competition</FONT>
or other similar agreement between the Participant and any Specified Company), as determined by the Company, which determination shall be conclusive. Notwithstanding the foregoing, if the Participant is party to an employment, consulting or
severance agreement with a Specified Company that contains a definition of &#147;cause&#148; for termination of employment or other relationship as an Eligible Participant, &#147;Cause&#148; shall have the meaning ascribed to such term in such
agreement. The Participant&#146;s employment or other relationship as an Eligible Participant shall be considered to have been terminated for &#147;Cause&#148; if the Company determines no later than 30 days after the Participant&#146;s termination
of employment or other relationship as an Eligible Participant, that termination for Cause was warranted. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(c) A &#147;<U>Change in Control
Event</U>&#148; shall mean any of the following, provided that such event constitutes a &#147;change in control event&#148; within the meaning of Section&nbsp;409A of the Internal Revenue Code of 1986, as amended (the &#147;<U>Code</U>&#148;) and
the guidance issued thereunder: </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) the acquisition by an individual, entity or group (within the meaning of
Section&nbsp;13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the &#147;<U>Exchange Act</U>&#148;)) (a &#147;<U>Person</U>&#148;) of beneficial ownership of any capital stock of the Company after the date hereof if, after
such acquisition, such Person beneficially owns (within the meaning of Rule <FONT STYLE="white-space:nowrap">13d-3</FONT> under the Exchange Act) 50% or more of the combined voting power of the then-outstanding securities of the Company entitled to
vote generally in the election of directors (the &#147;<U>Outstanding Company Voting Securities</U>&#148;); provided, however, that for purposes of this subsection (i), the following acquisitions shall not constitute a Change in Control Event:
(I)&nbsp;any acquisition directly from the Company (excluding an acquisition pursuant to the exercise, conversion or exchange of any security exercisable for, convertible into or exchangeable for Common Stock, class B common stock, par value $0.001
per share of the Company (&#147;<U>Class</U><U></U><U>&nbsp;B Common Stock</U>&#148;) or other voting securities of the Company, unless the Person exercising, converting or exchanging such security acquired such security directly from the Company or
an underwriter or agent of the Company), (II) any acquisition by any corporation pursuant to a Business Combination (as defined&nbsp;in paragraph 2(b)(iii)&nbsp;below) which complies with clauses (x)&nbsp;and (y) of subsection (iii)&nbsp;of this
definition, (III)&nbsp;any transfer by Michael J. Saylor or any of his affiliates (within the meaning of Rule <FONT STYLE="white-space:nowrap">12b-2</FONT> of the Exchange Act) (the &#147;<U>MS Affiliates</U>&#148;) to Michael J. Saylor or any MS
Affiliate or (IV)&nbsp;any acquisition by Michael J. Saylor or any MS Affiliate not pursuant to a Business Combination, except for an acquisition that results in any of the effects described in paragraph (a)(3)(ii)(B) of Rule <FONT
STYLE="white-space:nowrap">13e-3</FONT> under the Exchange Act (or any successor provision) with respect to the Common Stock; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) on
any date after Michael J. Saylor and the MS Affiliates cease to own in the aggregate more than 50% of the combined voting power of the Outstanding Company Voting Securities (the &#147;<U>Applicable Date</U>&#148;), there is a change in the
composition of the board of the Company (the &#147;<U>Board</U>&#148;) that results in the Continuing Directors (as defined below) no longer constituting a majority of the Board (or, if applicable, the board of directors of a successor corporation
to the Company), where the term &#147;<U>Continuing Director</U>&#148; means at any date a member of the Board (x)&nbsp;who was a member of the Board on the date immediately prior to the Applicable Date or (y)&nbsp;who was nominated or elected
subsequent to the Applicable Date by at least a majority of the directors who were Continuing Directors at the time of such nomination or election or whose election to the Board was recommended or endorsed by at least a majority of the directors who
were Continuing Directors at the time of such nomination or election; provided, however, that there shall be excluded from this clause (y)&nbsp;any individual whose initial assumption of office occurred as a result of an actual or threatened
election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents, by or on behalf of a person other than the Board; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii) the consummation of a merger, consolidation, reorganization, recapitalization or share exchange involving the Company or a sale or other
disposition of all or substantially all of the assets of the Company (a &#147;<U>Business Combination</U>&#148;), unless, immediately following such Business Combination, each of the following two conditions is satisfied: (x)&nbsp;all or
substantially all of the individuals and entities who were the beneficial owners of the outstanding shares of the Common Stock and Class&nbsp;B Common Stock and any other Outstanding Company Voting Securities immediately prior to such Business
Combination beneficially own, directly or indirectly, more than 50% of the combined voting power of the then-outstanding securities entitled to vote generally in the election of directors, respectively, of the resulting or acquiring corporation in
such Business Combination (which shall include, without limitation, a corporation which as a result of such transaction owns the Company or substantially </P>
</DIV></Center>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
all of the Company&#146;s assets either directly or through one or more subsidiaries) (such resulting or acquiring corporation is referred to herein as the &#147;<U>Acquiring
Corporation</U>&#148;) in substantially the same proportions as their ownership of the Common Stock, Class&nbsp;B Common Stock and such other Outstanding Company Voting Securities, respectively, immediately prior to such Business Combination and
(y)&nbsp;no Person (excluding Michael J. Saylor or any MS Affiliate, any employee benefit plan (or related trust) maintained or sponsored by the Company or by the Acquiring Corporation or any Person who beneficially owned, directly or indirectly,
50% or more of the combined voting power of the Outstanding Company Voting Securities prior to the Business Combination) beneficially owns, directly or indirectly, 50% or more of the combined voting power of the then-outstanding securities of such
corporation entitled to vote generally in the election of directors; provided, however, that for the avoidance of doubt, the consummation of any Business Combination that results in any of the effects described in paragraph (a)(3)(ii)(B) of Rule <FONT
STYLE="white-space:nowrap">13e-3</FONT> under the Exchange Act (or any successor provision) with respect to the Common Stock shall be deemed not to satisfy the condition set forth in clause (x). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(d) &#147;<U>Good Reason</U>&#148; shall mean the occurrence of an Adverse Event, in each case, after the Change in Control Event.
Notwithstanding the foregoing, an Adverse Event shall not be deemed to constitute Good Reason unless (i)&nbsp;the Participant gives the Company or the Acquiring Corporation, as applicable, notice of termination of employment or other relationship as
an Eligible Participant no more than 90 days after the initial occurrence of the Adverse Event, (ii)&nbsp;such Adverse Event has not been fully corrected and the Participant has not been reasonably compensated for any losses or damages resulting
therefrom within 30 days of the Company&#146;s or the Acquiring Corporation&#146;s receipt of such notice and (iii)&nbsp;the Participant&#146;s termination of employment or other relationship as an Eligible Participant occurs within six
(6)&nbsp;months following the Company&#146;s or the Acquiring Corporation&#146;s receipt of such notice. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3. <U>Vesting</U>.&nbsp;The PSUs
shall vest in accordance with <U>Exhibit A</U> attached hereto and the Vesting Schedule set forth in the Notice of Grant (the &#147;<U>Vesting Schedule</U>&#148;).&nbsp;Upon the vesting of the PSUs, the Company shall settle each PSU that has vested
in accordance with <U>Exhibit A</U>, subject to the payment of any taxes pursuant to Section&nbsp;8(b) by, issuing and delivering such number of shares of Common Stock for each vested PSU (the shares issued on such settlement, the &#147;<U>PSU
Shares</U>&#148;). Alternatively, the Board may, in its sole discretion, elect to pay cash or part cash and part PSU Shares in lieu of settling the PSUs that vest solely in PSU Shares (such discretion of the Board to settle in cash shall not apply
to a Participant who is subject to Canadian tax, whose shares must be settled in previously unissued shares). If a cash payment is made in lieu of delivering PSU Shares, the amount of such payment shall be equal to the fair market value (as
determined by the Compensation Committee) of the PSU Shares as of the vesting date less an amount equal to any federal, state, local and other taxes of any kind required to be withheld with respect to the vesting of the PSUs.&nbsp;The PSUs or any
cash payment in lieu of PSU Shares will be delivered to the Participant as soon as practicable following the vesting date, but in any event within 30 days of such date.</P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4. <U>Treatment of Unvested PSUs Upon Cessation of Service</U>.&nbsp;In the event that the Participant ceases to be an Eligible Participant,
then the PSUs shall be treated as set forth in <U>Exhibit A</U>. </P>
</DIV></Center>


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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5. <U>Restrictions on Transfer</U>.&nbsp;The Participant shall not sell, assign, transfer,
pledge, hypothecate, encumber or otherwise dispose of, by operation of law or otherwise (collectively &#147;transfer&#148;) any PSUs, or any interest therein, except pursuant to the laws of descent and distribution. The Company shall not be required
to treat as the owner of any PSUs or issue any Common Stock or make any cash payment, to any transferee to whom such PSUs have been transferred in violation of any of the provisions of this Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6. <U>Rights as a Stockholder</U>.&nbsp;The Participant shall have no rights as a stockholder of the Company with respect to any shares of
Common Stock that may be issuable with respect to the PSUs until the issuance of the PSU Shares to the Participant following the vesting of the PSUs.</P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7. <U>Provisions of the Plan</U>.&nbsp;This Agreement is subject to the provisions of the Plan, a copy of which is furnished to the Participant
with this Agreement.&nbsp;Capitalized terms used herein and not otherwise defined shall have the meanings ascribed to them in the Plan. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.
<U>Tax Matters</U>.</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) <U>Acknowledgments; No Section</U><U></U><U>&nbsp;83(b) Election</U>.&nbsp;The Participant acknowledges that he or
she is responsible for obtaining the advice of the Participant&#146;s own tax advisors with respect to the award of PSUs and the Participant is relying solely on such advisors and not on any statements or representations of the Company or any of its
agents with respect to the tax consequences relating to the PSUs.&nbsp;The Participant understands that the Participant (and not the Company) shall be responsible for the Participant&#146;s tax liability that may arise in connection with the
acquisition, vesting and/or disposition of the PSUs.&nbsp;The Participant acknowledges that no election under Section&nbsp;83(b) of the Code is available with respect to PSUs.</P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) <U>Withholding</U>.&nbsp;The Participant acknowledges and agrees that the Company has the right to deduct from payments of any kind
otherwise due to the Participant any federal, state, local or other taxes of any kind required by law to be withheld with respect to the vesting of the PSUs. On the vesting date (or other date or time at which the Company is required to withhold
taxes associated with the PSUs), the Company will retain from the PSU Shares otherwise issuable on such date a number of shares of Common Stock having a fair market value (as determined by the Company) equal to the Company&#146;s minimum statutory
withholding obligation with respect to such taxable event.&nbsp;If the Company is unable to retain sufficient shares of Common Stock to satisfy such tax withholding obligation, the Participant acknowledges and agrees that the Company or an affiliate
of the Company shall be entitled to immediate payment from the Participant of the amount of any tax required to be withheld by the Company.&nbsp;The Company shall not deliver any PSU Shares to the Participant until it is satisfied that all required
withholdings have been made.</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(c) <U>Section</U><U></U><U>&nbsp;409A</U>.&nbsp;The PSUs awarded pursuant to this Agreement are intended to
be exempt from or to comply with the requirements of Section&nbsp;409A of the Code and the Treasury Regulations issued thereunder (&#147;<U>Section</U><U></U><U>&nbsp;409A</U>&#148;).&nbsp;The delivery of PSU Shares on the vesting of the PSUs may
not be accelerated or deferred to dates or events other than those set forth herein, unless permitted or required by Section&nbsp;409A. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">9. <U>Data Privacy</U> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In order to assist in the administration of the Plan, the Company may process personal data about the Participant. Such data includes but is
not limited to the information provided in this Agreement and any changes thereto, other appropriate personal and financial data about the Participant such as home address and business addresses and other contact information, payroll information and
any other information that might be deemed appropriate by the Company to facilitate the administration of the Plan. By accepting these PSUs, the Participant gives explicit consent to the Company to process any such personal data. The Participant
also gives explicit consent to the Company to transfer any such personal data outside or within the country in which the Participant works or is employed, including, with respect to <FONT STYLE="white-space:nowrap">non-U.S.</FONT> resident
Participants, to the United States, to transferees who shall include the Company, a broker retained by the Participant or the Company for the purpose of administering the PSUs and other persons who are designated by the Company to administer or
assist with the implementation, administration or management of the Plan. The Participant may object to the collection, use, processing or transfer of such data by notifying the General Counsel of MicroStrategy in writing. The Participant
understands that such objection may impair his or her ability to participate in the Plan. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">10. <U>Participant&#146;s
Acknowledgements</U>.</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Participant acknowledges that he or she:&nbsp;(i) has read this Agreement; (ii)&nbsp;has been represented in the
preparation, negotiation and execution of this Agreement by legal counsel of the Participant&#146;s own choice or has voluntarily declined to seek such counsel; (iii)&nbsp;understands the terms and consequences of this Agreement; (iv)&nbsp;is fully
aware of the legal and binding effect of this Agreement; and (v)&nbsp;agrees that in accepting this award, he or she will be bound by any clawback policy that the Company may adopt in the future. To accept this award, the Participant acknowledges
that they must accept this Agreement within six (6)&nbsp;months of the Grant Date. If this Agreement is not accepted within six (6)&nbsp;months of the Grant Date, the Company&#146;s grant of PSUs under this Agreement will be withdrawn and cease to
be in effect and the Participant shall have no rights to any PSUs under this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">***** </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>EXHIBIT A </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Performance Vesting Criteria </P>
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    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityTaxIdentificationNumber" xlink:type="locator" xlink:label="dei_EntityTaxIdentificationNumber" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityTaxIdentificationNumber" xlink:to="dei_EntityTaxIdentificationNumber_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityTaxIdentificationNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Tax Identification Number</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityTaxIdentificationNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Tax Identification Number</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressAddressLine1" xlink:type="locator" xlink:label="dei_EntityAddressAddressLine1" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressAddressLine1_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address, Address Line One</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressAddressLine1_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, Address Line One</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressCityOrTown" xlink:type="locator" xlink:label="dei_EntityAddressCityOrTown" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressCityOrTown_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address, City or Town</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressCityOrTown_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, City or Town</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressStateOrProvince" xlink:type="locator" xlink:label="dei_EntityAddressStateOrProvince" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressStateOrProvince" xlink:to="dei_EntityAddressStateOrProvince_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressStateOrProvince_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address, State or Province</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressStateOrProvince_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, State or Province</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressPostalZipCode" xlink:type="locator" xlink:label="dei_EntityAddressPostalZipCode" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressPostalZipCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address, Postal Zip Code</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressPostalZipCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, Postal Zip Code</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_CityAreaCode" xlink:type="locator" xlink:label="dei_CityAreaCode" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CityAreaCode" xlink:to="dei_CityAreaCode_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_CityAreaCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">City Area Code</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_CityAreaCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">City Area Code</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_LocalPhoneNumber" xlink:type="locator" xlink:label="dei_LocalPhoneNumber" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_LocalPhoneNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Local Phone Number</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_LocalPhoneNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Local Phone Number</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_WrittenCommunications" xlink:type="locator" xlink:label="dei_WrittenCommunications" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_WrittenCommunications" xlink:to="dei_WrittenCommunications_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_WrittenCommunications_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Written Communications</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_WrittenCommunications_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Written Communications</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_SolicitingMaterial" xlink:type="locator" xlink:label="dei_SolicitingMaterial" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SolicitingMaterial" xlink:to="dei_SolicitingMaterial_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_SolicitingMaterial_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Soliciting Material</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_SolicitingMaterial_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Soliciting Material</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_PreCommencementTenderOffer" xlink:type="locator" xlink:label="dei_PreCommencementTenderOffer" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementTenderOffer" xlink:to="dei_PreCommencementTenderOffer_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_PreCommencementTenderOffer_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Pre Commencement Tender Offer</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_PreCommencementTenderOffer_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pre Commencement Tender Offer</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_PreCommencementIssuerTenderOffer" xlink:type="locator" xlink:label="dei_PreCommencementIssuerTenderOffer" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementIssuerTenderOffer" xlink:to="dei_PreCommencementIssuerTenderOffer_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_PreCommencementIssuerTenderOffer_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Pre Commencement Issuer Tender Offer</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_PreCommencementIssuerTenderOffer_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pre Commencement Issuer Tender Offer</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_Security12bTitle" xlink:type="locator" xlink:label="dei_Security12bTitle" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12bTitle" xlink:to="dei_Security12bTitle_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_Security12bTitle_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Security 12b Title</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_Security12bTitle_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Security 12b Title</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_TradingSymbol" xlink:type="locator" xlink:label="dei_TradingSymbol" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_TradingSymbol_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Trading Symbol</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_TradingSymbol_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Trading Symbol</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_SecurityExchangeName" xlink:type="locator" xlink:label="dei_SecurityExchangeName" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityExchangeName" xlink:to="dei_SecurityExchangeName_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_SecurityExchangeName_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Security Exchange Name</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_SecurityExchangeName_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Security Exchange Name</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityEmergingGrowthCompany" xlink:type="locator" xlink:label="dei_EntityEmergingGrowthCompany" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Emerging Growth Company</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Emerging Growth Company</link:label>
  </link:labelLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>7
<FILENAME>mstr-20230524_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii" standalone="yes"?>
<!-- DFIN - https://www.dfinsolutions.com/ -->
<!-- CTU Version: Release master Build:20221108.6 -->
<!-- Creation date: 5/30/2023 10:45:40 PM Eastern Time -->
<!-- Copyright (c) 2023 Donnelley Financial Solutions, Inc. All Rights Reserved. -->
<link:linkbase
    xmlns:link="http://www.xbrl.org/2003/linkbase"
    xmlns:xlink="http://www.w3.org/1999/xlink"
    xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"
    xmlns:xbrldt="http://xbrl.org/2005/xbrldt"
    xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:roleRef roleURI="http://www.microstrategy.com//20230524/taxonomy/role/DocumentDocumentAndEntityInformation" xlink:href="mstr-20230524.xsd#Role_DocumentDocumentAndEntityInformation" xlink:type="simple" />
  <link:presentationLink xlink:type="extended" xlink:role="http://www.microstrategy.com//20230524/taxonomy/role/DocumentDocumentAndEntityInformation">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_CoverAbstract" xlink:type="locator" xlink:label="dei_CoverAbstract" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityRegistrantName" xlink:type="locator" xlink:label="dei_EntityRegistrantName" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityRegistrantName" order="22.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_AmendmentFlag" xlink:type="locator" xlink:label="dei_AmendmentFlag" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_AmendmentFlag" order="23.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityCentralIndexKey" xlink:type="locator" xlink:label="dei_EntityCentralIndexKey" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityCentralIndexKey" order="24.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_DocumentType" xlink:type="locator" xlink:label="dei_DocumentType" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_DocumentType" order="26.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_DocumentPeriodEndDate" xlink:type="locator" xlink:label="dei_DocumentPeriodEndDate" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_DocumentPeriodEndDate" order="27.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityIncorporationStateCountryCode" xlink:type="locator" xlink:label="dei_EntityIncorporationStateCountryCode" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityIncorporationStateCountryCode" order="28.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityFileNumber" xlink:type="locator" xlink:label="dei_EntityFileNumber" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityFileNumber" order="29.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityTaxIdentificationNumber" xlink:type="locator" xlink:label="dei_EntityTaxIdentificationNumber" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityTaxIdentificationNumber" order="30.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressAddressLine1" xlink:type="locator" xlink:label="dei_EntityAddressAddressLine1" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityAddressAddressLine1" order="31.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressCityOrTown" xlink:type="locator" xlink:label="dei_EntityAddressCityOrTown" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityAddressCityOrTown" order="32.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressStateOrProvince" xlink:type="locator" xlink:label="dei_EntityAddressStateOrProvince" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityAddressStateOrProvince" order="33.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressPostalZipCode" xlink:type="locator" xlink:label="dei_EntityAddressPostalZipCode" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityAddressPostalZipCode" order="34.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_CityAreaCode" xlink:type="locator" xlink:label="dei_CityAreaCode" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_CityAreaCode" order="35.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_LocalPhoneNumber" xlink:type="locator" xlink:label="dei_LocalPhoneNumber" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_LocalPhoneNumber" order="36.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_WrittenCommunications" xlink:type="locator" xlink:label="dei_WrittenCommunications" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_WrittenCommunications" order="37.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_SolicitingMaterial" xlink:type="locator" xlink:label="dei_SolicitingMaterial" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_SolicitingMaterial" order="38.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_PreCommencementTenderOffer" xlink:type="locator" xlink:label="dei_PreCommencementTenderOffer" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_PreCommencementTenderOffer" order="39.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_PreCommencementIssuerTenderOffer" xlink:type="locator" xlink:label="dei_PreCommencementIssuerTenderOffer" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_PreCommencementIssuerTenderOffer" order="40.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_Security12bTitle" xlink:type="locator" xlink:label="dei_Security12bTitle" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_Security12bTitle" order="41.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_TradingSymbol" xlink:type="locator" xlink:label="dei_TradingSymbol" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_TradingSymbol" order="42.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_SecurityExchangeName" xlink:type="locator" xlink:label="dei_SecurityExchangeName" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_SecurityExchangeName" order="43.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityEmergingGrowthCompany" xlink:type="locator" xlink:label="dei_EntityEmergingGrowthCompany" />
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<TYPE>XML
<SEQUENCE>8
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140238638550032">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Document and Entity Information<br></strong></div></th>
<th class="th"><div>May 24, 2023</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CoverAbstract', window );"><strong>Cover [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">MICROSTRATEGY Inc<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001050446<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">May 24,  2023<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation State Country Code</a></td>
<td class="text">DE<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">0-24435<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">51-0323571<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">1850 Towers Crescent Plaza<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Tysons Corner<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">VA<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">22182<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">(703)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">848-8600<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre Commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre Commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Security 12b Title</a></td>
<td class="text">Class&#160;A common stock, par value $0.001 per share<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">MSTR<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NASDAQ<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CoverAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CoverAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period.  The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td style="white-space:nowrap;">dei_EntityFileNumber</td>
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<td>dei:fileNumberItemType</td>
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<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td>xbrli:normalizedStringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SolicitingMaterial">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Section 14a<br> -Number 240<br> -Subsection 12<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SolicitingMaterial</td>
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<td><strong> Balance Type:</strong></td>
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<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_WrittenCommunications">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_WrittenCommunications</td>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
