Company: MSTR
Filing Date: 2025-03-10
Form Type: 424B5
Source: 0001193125-25-050408
Chunk: 135

Company: Strategy Inc
Filing Date: 2025-03-10
Form: 424B5
Chunk 135
---
 the bullets above do not apply (1) to our consolidation with or merging into one of our affiliates, if our board of directors determines in good faith that the purpose of the consolidation or merger is principally to change our state of incorporation or our form of organization to another form or (2) if we merge with or into a single direct or indirect wholly-owned subsidiary of ours. The surviving business entity will succeed to, and be substituted for, us under the senior indenture and the senior debt securities and, except in the case of a lease, we shall be released from all obligations under the senior indenture and the senior debt securities. No Protection in the Event of a Change in Control.Unless we indicate otherwise in a prospectus supplement with respect to a particular series of senior debt securities, the senior debt securities will not contain any provisions that may afford holders of the senior debt securities protection in the event we have a change in control or in the event of a highly leveraged transaction (whether or not such transaction results in a change in control). -14-

Events of Default.Unless we indicate otherwise in a prospectus supplement with respect to a particular series of senior debt securities, the following are events of default under the senior indenture with respect to senior debt securities of each series:

| • |     | failure to pay interest on any senior debt securities of such series when due and payable, if that default 
 continues for a period of 30 days (or such other period as may be specified for such series);              |

| • |     | failure to pay principal on the senior debt securities of such series when due and payable whether at maturity,                           
 upon redemption, by declaration or otherwise (and, if specified for such series, the continuance of such failure for a specified period); |

| • |     | default in the performance of or breach of any of our covenants or agreements in the senior indenture applicable                                                                                                                                         
 to senior debt securities of such series, other than a covenant breach which is specifically dealt with elsewhere in the senior indenture, and that default or breach continues for a period of 90 days after we receive written notice from the trustee 
 or from the holders of 25% or more in aggregate principal amount of the senior debt securities of such series;                                                                                                                                           |

| • |     | certain events of bankruptcy or insolvency, whether or not voluntary; and |

| • |     | any other event of default provided for in such series of senior debt securities as may be specified in the 
 applicable prospectus supplement