Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001193125-25-263746
Chunk: 7

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 7
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, in cash on the applicable deferred regular dividend payment 
 date, such failure shall constitute a failure to declare and pay regular dividends for purposes of determining whether a “regular dividend non-payment event” (as defined in this STRF Stock Annex)                                                  
 has occurred with respect to the appointment of board members, as described further below. If we pay such regular dividend, plus compounded dividends thereon, on the deferred regular dividend payment date in the manner described above, then the 
 related delay in payment shall be deemed not to constitute a failure to declare or pay regular dividends for purposes of determining whether a “regular dividend non-payment event” has occurred.                                                    |

| See “Description of STRF Stock—Regular Dividends.” |

| We expect to fund any dividends paid in cash on the STRF Stock primarily through additional capital raising activities, including, but not limited                                                                                          
 to, at-the-market offerings of our class A common stock and our junior preferred stock. See “Risk Factors—Risks Relating to the STRF Stock and This                                                                                         
 Offering—We may not have sufficient funds to pay dividends in cash on the STRF Stock, or we may choose not to pay dividends on the STRF Stock. In addition, regulatory and contractual restrictions may prevent us from declaring or paying 
 dividends.”                                                                                                                                                                                                                                 |

| No Preemptive and Conversion Rights | The STRF Stock is not convertible into or exchangeable for any other securities or property and is not entitled to any preemptive or similar rights. |

| Optional Redemption | We have the right, at our election, to redeem all, and not less than all, of the STRF Stock, at any time, for cash if the total number of shares of all STRF Stock then outstanding is less than 25% of the total number of shares of STRF Stock that 
 have been issued in all offerings we have made of STRF Stock as of such date, taken together. We refer to a redemption pursuant to this provision as an “optional redemption.” The redemption price for any STRF Stock to be redeemed                 
 pursuant to an optional redemption will be a cash amount equal to the liquidation preference of the STRF Stock as of the business day before the date we send the related redemption notice, plus accumulated and unpaid regular dividends to, but    
 excluding, the redemption date.                                                                                                                                                                                                                       |

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

SA-3

| Redemption Upon Tax Event | In addition to the redemption right described above,