Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001193125-25-263900
Chunk: 53

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 53
---
 In addition, notwithstanding anything to the contrary, our board of directors will at no time include more than two preferred stock directors, regardless of how many classes of voting parity stock (which term, solely for purposes of this sentence, includes the STRK Stock) have rights that are then exercisable to elect any number of preferred stock directors. Upon the termination of such right with respect to the STRK Stock and all other outstanding voting parity stock, if any, the term of office of any person then serving as a preferred stock director will immediately and automatically terminate (and, if the authorized number of our directors was increased by one or two, as applicable, in connection with such regular dividend non-paymentevent(s), then the authorized number of our directors will automatically decrease by one or two, as applicable). A preferred stock director will hold office until our next annual meeting of stockholders or, if earlier, upon his or her death, resignation or removal or the termination of the term of such office as described above. However, if:

| • |     | a class or series of voting parity stock with similar voting rights regarding the election of directors upon a 
 failure to pay dividends is outstanding;                                                                       |

| • |     | such voting rights become exercisable at a time when a preferred stock director holds office with respect to the 
 STRK Stock; and                                                                                                  |

| • |     | a special meeting of our stockholders is called for the purpose of electing a director pursuant to such voting 
 rights,                                                                                                        |

then (x) holders of the STRK Stock will be entitled to vote, as a single class with the holders of such class or series of voting parity stock, at such special meeting in respect of such election of such new director(s); and (y) the office of any such preferred stock director of the STRK Stock will terminate upon the election, at such special meeting, of the new director(s). For the avoidance of doubt, the compensation, if any, payable to any preferred stock director will be at our sole and absolute discretion. Removal and Vacancies of a Preferred Stock Director At any time, a preferred stock director may be removed either (i) with cause in accordance with applicable law; or (ii) with or without cause by the affirmative vote of the preferred stockholders, voting together as a single class with the holders of each class or series of voting parity stock, if any, with similar voting rights regarding the election of directors upon a failure to pay dividends, which similar voting rights are then exercisable, representing