Company: MSTR
Filing Date: 2025-07-31
Form Type: 424B5
Source: 0001193125-25-170517
Chunk: 17

Company: Strategy Inc
Filing Date: 2025-07-31
Form: 424B5
Chunk 17
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 we provide the related redemption notice.                                                                                                          |

| See “Description of STRC Stock—Redemption at Our Option—Optional Redemption.” |

| Clean-Up Redemption | In addition to the redemption right described above, we have the right, at our election, to redeem all, and not less than all, of the STRC Stock, at any 
 time, for cash if the total number of shares of all STRC                                                                                                 |

S-12

| Stock then outstanding is less than 25% of the total number of shares of STRC Stock issued in the initial offering of STRC Stock and in any future offering taken together. We refer to a                                                              
 redemption pursuant to this provision as a “clean-up redemption.” The redemption price for any share of STRC Stock to be redeemed pursuant to a clean-up                                                                                               
 redemption will be a cash amount equal to the liquidation preference of such share as of the business day before the date we provide the related redemption notice, plus accumulated and unpaid regular dividends on such share to, and including, the 
 redemption date.                                                                                                                                                                                                                                       |

| See “Description of STRC Stock—Redemption at Our Option—Clean-Up Redemption.” |

| Redemption Upon Tax Event | In addition to the redemption rights described above, we have the right, at our election, to redeem all, and not less than all, of the STRC Stock, at any time, for cash if a “tax event” (as defined in this prospectus supplement)         
 occurs. We refer to a redemption pursuant to this provision as a “tax redemption.” The redemption price for any share of STRC Stock to be redeemed pursuant to a tax redemption will be a cash amount equal to the liquidation preference of 
 such share as of the business day before the date we provide the related redemption notice, plus accumulated and unpaid regular dividends on such share to, and including, the redemption date.                                              |

| See “Description of STRC Stock—Redemption at Our Option—Tax Redemption.” |

| Repurchase at the Option of the Preferred Stockholders After a Fundamental Change | If a “fundamental change” (as defined in this prospectus supplement) occurs, then, except as described in this prospectus supplement, preferred stockholders have the right (which we refer to as the “fundamental change repurchase            
 right”) to require us to repurchase some or all of their shares of STRC Stock at a cash repurchase price equal to the stated amount of the STRC Stock to be repurchased, plus accumulated