Company: MSTR
Filing Date: 2025-05-22
Form Type: 424B5
Source: 0001193125-25-124554
Chunk: 51

Company: Strategy Inc
Filing Date: 2025-05-22
Form: 424B5
Chunk 51
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 the caption “—Voting and Consent Rights
with Respect to Specified Matters” may be given or obtained either in writing without a meeting or in person or by proxy at a regular annual meeting or a special meeting of stockholders.

Redemption at Our Option

The perpetual strife preferred
stock is not redeemable at our option except pursuant to an optional redemption or a tax redemption, as described below.

Optional Redemption

Subject to the terms of the certificate of designations, we have the right, at our election, to redeem all, but not less than all, of
the outstanding perpetual strife preferred stock, at any time for cash if the total number of shares of perpetual strife preferred stock then outstanding is less than 25% of the total number of shares of perpetual strife preferred stock that have
been issued in all offerings we have made of perpetual strife preferred stock as of such date, taken together. We refer to a redemption pursuant to the provision described above as an “optional redemption.”

Tax Redemption

Subject to the
terms of the certificate of designations, we have the right, at our election, to redeem all, and not less than all, of the perpetual strife preferred stock, at any time, for cash if a “tax event” (as defined below under the caption
“—Definitions”) occurs. We refer to a redemption pursuant to this provision described in this paragraph as a “tax redemption.”

Redemption Date

The redemption
date will be a business day of our choosing that is no more than 60, nor less than 15, calendar days after the date we send the related redemption notice, as described below.

Redemption Price

The redemption
price for a share of perpetual strife preferred stock called for either optional redemption or tax redemption will be an amount equal to (i) the liquidation preference of such share as of the business day before the date we send the related
redemption notice, as described below, plus (ii) accumulated and unpaid regular dividends (plus compounded dividends thereon) on such share to, but excluding, the redemption date. However, if the redemption date is after a “specified
regular record date” (as defined below under the caption “—Definitions”) for a declared regular dividend on the perpetual strife preferred stock and on or before the next “specified dividend payment date” (as defined
below under the caption “—Definitions”), then (a) the holder of such share at the close of business on such specified regular record date will be entitled, notwithstanding such redemption, to receive