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Michael Saylor Commences Plan to Sell $216M Worth of MicroStrategy Stock Options

MicroStrategy (MSTR) executive chairman Michael Saylor began to sell $216 million worth of stock options of the company on Tuesday, according to a regulatory filing with the U.S. Securities and Exchange Commission. The document shows that Saylor proposed the sale of 310,000 stock option awards granted in 2014, which will expire in April. Saylor said during Microstrategy's third quarter earnings call that he plans to sell 5,000 shares per trading day over the course of the next four months, subject to a minimum price condition. This was first disclosed in that quarter's 10-Q filing, which said he can sell up to 400,000 shares of his vested options through April 26. 

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