Company: MSTR
Filing Date: 2025-11-13
Form Type: 8-K
Source: 0001193125-25-280178
Chunk: 2

Company: Strategy Inc
Filing Date: 2025-11-13
Form: 8-K
Item: Item 3.03
Chunk 2
---
 such share to, but excluding, the redemption date.

If an event that constitutes a “fundamental change” under the Certificate of Designations occurs, then, subject to certain limitations, holders of the STRE Stock will have the right to require Strategy to repurchase some or all of their shares of STRE Stock at a cash repurchase price equal to the stated amount of the STRE Stock to be repurchased, plus accumulated and unpaid regular dividends, if any, to, but excluding the fundamental change repurchase date.

The liquidation preference of the STRE Stock will initially be €100 per share. Effective immediately after the close of business on each business day after the initial issue date (and, if applicable, during the course of a business day on which any sale transaction to be settled by the issuance of STRE Stock is executed, from the exact time of the first such sale transaction during such business day until the close of business of such business day), the liquidation preference per share will be adjusted to be the greatest of (i) the stated amount per share of STRE Stock; (ii) in the case of any business day with respect to which Strategy has, on such business day or any business day during the ten trading day period preceding such business day, executed any sale transaction to be settled by the issuance of STRE Stock, an amount equal to the last reported sale price per share of STRE Stock on the trading day immediately before such business day; and (iii) the arithmetic average of the last reported sale prices per share of STRE Stock for each trading day of the ten consecutive trading days (or, if applicable, the lesser number of trading days as have elapsed during the period from, and including, the initial issue date to, but excluding, such business day) immediately preceding such business day.

The above description of the Certificate of Designations and the terms of the STRE Stock is a summary and is not complete. A copy of the Certificate of Designations and the form of the certificate representing STRE Stock are filed as Exhibits 3.1 and 4.1, respectively, to this Current Report on Form8-K, and the above summary is qualified by reference to the terms of the Certificate of Designations and the STRE Stock set forth in such exhibits.

  Item 5.03      Amendments to Articles of Incorporation or Bylaws.  

The information set forth above in this Current Report under Item 3.03 is incorporated by reference into this Item 5.03.