Company: MSTR
Filing Date: 2025-05-22
Form Type: 424B5
Source: 0001193125-25-124554
Chunk: 37

Company: Strategy Inc
Filing Date: 2025-05-22
Form: 424B5
Chunk 37
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 on the record date for such declared
dividend, will be entitled to payment of such declared dividend (including the portion that was accrued but unpaid before the issuance of such perpetual strife preferred stock).

Declared regular dividends on the perpetual strife preferred stock will be payable solely in cash in the manner, and subject to the provisions, described
below under the caption “—Method of Payment.”

If any accumulated regular dividend (or any portion thereof) on the perpetual strife
preferred stock is not paid on the applicable regular dividend payment date (or, if such regular dividend payment date is not a business day, the next business day), then additional regular dividends, which we refer to as “compounded
dividends,” will accumulate on the amount of such unpaid regular dividend, compounded quarterly at the “compounded dividend rate,” from, and including, such regular dividend payment date to, but excluding, the date the same, including
all compounded dividends thereon, is paid in full. The compounded dividend rate applicable to any unpaid regular dividend that was due on a “regular dividend payment date” (as defined in this prospectus supplement) (or, if such regular
dividend payment date is not a business day, the next business day) will initially be a rate per annum equal to the “regular dividend rate” (as defined in this prospectus supplement) plus 100 basis points; provided, however,
that until such regular dividend, together with compounded dividends thereon, is paid in full, such compounded dividend rate will increase by 100 basis points per annum for each subsequent regular dividend period, up to a maximum rate of 18% per
annum. Each reference in this prospectus supplement to “accumulated” or “unpaid” regular dividends will include any compounded dividends that accumulate thereon pursuant to the provision described in this paragraph. Each payment
of declared regular dividends on the perpetual strife preferred stock will be applied to the earliest regular dividend period for which regular dividends have not yet been paid.

Accumulated regular dividends will be computed on the basis of a 360-day year comprised of twelve 30-day months.

If we fail to declare a regular dividend on or prior to a given regular record date, such failure shall
constitute the issuance of a notice of deferral. Upon issuance of such notice, we shall use our commercially reasonable efforts over the following 60-day period to sell class A common stock and/or other
securities to raise proceeds in an

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amount sufficient to cover any deferred dividends that