Company: MSTR
Filing Date: 2025-03-10
Form Type: 424B5
Source: 0001193125-25-050408
Chunk: 47

Company: Strategy Inc
Filing Date: 2025-03-10
Form: 424B5
Chunk 47
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Accumulated regular dividends will be computed on the basis of a
360-day year comprised of twelve 30-day months.

Except as described in
the next paragraph, the certificate of designations does not require us to declare regular dividends on the perpetual strike preferred stock, even if funds are legally available for their payment. Accordingly, we may choose not to declare regular
dividends on the perpetual strike preferred stock. See “Risk Factors—Risks Relating to the Perpetual Strike Preferred Stock and This Offering—We may not have sufficient

S-34

funds to pay dividends in cash on the perpetual strike preferred stock, or we may choose not to pay dividends on the perpetual strike preferred stock. In addition, regulatory and contractual restrictions may prevent us from declaring or paying dividends.” If we sell any shares of our class A common stock for cash through a registered public offering (including an at-the-marketoffering or follow-onoffering) during the 90 calendar days preceding a regular record date, then, subject to the terms of any dividend senior stock, we will declare and pay the regular dividend due on the regular dividend payment date immediately after such regular record date (including, for the avoidance of doubt, compounded dividends, if any) to the extent the net proceeds to us of such sale(s) during such 90 calendar days are sufficient to pay such regular dividend. For the avoidance of doubt, payments of regular dividends will be applied in accordance with the last sentence of the fourth paragraph under this “—Regular Dividends—Generally” section. However, to the extent permitted by the depositary procedures and the terms of any senior dividend stock, and subject to the limitations described under the caption “—Method of Payment—Regular Dividends Paid Partially or Entirely in Shares of Class A Common Stock” below, to the extent, and only to the extent, funds are not legally available for such payment, and to the extent authorized, unissued and unreserved shares of our class A common stock are available, such payment of regular dividends will be payable in shares of our class A common stock. For these purposes, and for the avoidance of doubt, but without limitation, none of the following will constitute a sale of shares of our class A common stock:

| • |     | the issuance or sale of any securities that are convertible into, or exchangeable or exercisable for, class A 
 common stock;                                                                                                 |

| • |     | the issuance of any shares of our class A common stock upon the conversion