In accordance with a regulatory filing with the US Securities and Exchange Commission, MicroStrategy executive chairman Michael Saylor began selling stock options worth $216 million on Tuesday.
The filing shows that Saylor intends to sell 310,000 stock options that were awarded in 2014 and are set to expire in April.
Saylor previously mentioned during the company’s third quarter earnings call that he plans to sell 5,000 shares per trading day over the next four months, as long as the share price meets a certain minimum condition.
This was first reported in the company’s 10-Q filing for that quarter, which stated that Saylor can sell up to 400,000 of his vested options by April 26.
Saylor stated that selling his options will allow him to fulfill personal obligations and invest in more Bitcoin for his personal account.
