Item 8.01. Other Events.
On April 11, 2021, the Board of Directors (the "Board") of MicroStrategy
Incorporated (the "Company") modified the compensation arrangements for
non-employee directors. Going forward, non-employee directors will receive all
fees for their service on the Company's Board in bitcoin instead of cash. In
approving bitcoin as a form of compensation for Board service, the Board cited
its commitment to bitcoin given its ability to serve as a store of value,
supported by a robust and public open-source architecture, untethered to
sovereign monetary policy.
Under this modified arrangement, the amount of Board fees payable to
non-employee directors remains unchanged and will be nominally denominated in
USD. At the time of payment, the fees will be converted from USD into bitcoin by
the payment processor and then deposited into the digital wallet of the
applicable non-employee director.
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