Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001193125-25-263719
Chunk: 31

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 31
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 purposes. As a result, our management
will have broad discretion in the application of the net proceeds from this offering and you will not have the opportunity as part of your investment decision to assess whether the net proceeds are being used in a manner of which you approve.

SA-17

DESCRIPTION OF STRC STOCK

The following is a summary of certain provisions of the STRC Stock. It is only a summary and is not complete. The terms of our STRC Stock are set forth in a
certificate of designations (the “certificate of designations”) and our second restated certificate of incorporation (as amended and supplemented to date, the “certificate of incorporation”). We qualify this summary by
referring you to the certificate of designations and our certificate of incorporation, because they, and not this summary, define your rights as a holder of the STRC Stock. We will provide you, upon written request, with a copy of the certificate of
designations, which includes the form of the certificates that will represent the STRC Stock, and our certificate of incorporation, as provided under the caption “Where You Can Find Additional Information; Incorporation by Reference” in
the accompanying base prospectus supplement.

Certain terms used in this summary are defined below under the caption “—Definitions.”
Certain other terms used in this summary are defined in the certificate of designations.

References to “we,” “us” and
“our” in this section refer to Strategy Inc only and not to any of its subsidiaries.

This “Description of STRC Stock” section
supplements and, to the extent inconsistent therewith, supersedes the information in the accompanying prospectus under the caption “Description of Capital Stock.”

General

Our certificate of incorporation authorizes us
to issue up to 1,005,000,000 shares of preferred stock, $0.001 par value per share, in one or more series, and authorizes our board of directors to designate the preferences, rights and other terms of each series. Our board of directors has
authorized the issuance of up to 33,200,000 shares of STRF Stock, 70,435,000 shares of STRC Stock, 269,800,000 shares of STRK Stock and 61,176,000 shares of STRD Stock. As of October 31, 2025, 12,470,812 shares of STRF Stock, 28,011,111 shares of
STRC Stock, 13,918,518 shares of STRK Stock