Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001193125-25-263900
Chunk: 10

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 10
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 | We have the right, at our election, to redeem all, and not less than all, of the STRK Stock, at any time, for cash if the total aggregate liquidation preference (or, upon ratification of the STRK Amendment, the aggregate stated amount) of all      
 STRK Stock then outstanding is less than $182,500,000 (which is equal to 25% of the aggregate initial liquidation preference (or, upon ratification of the STRK Amendment, the aggregate initial stated amount) of the STRK Stock issued on             
 February 5, 2025). We refer to a redemption pursuant to this provision as an “optional redemption.” The redemption price for any STRK Stock to be redeemed pursuant to an optional redemption will be a cash amount equal to the                        
 liquidation preference (or, upon ratification of the STRK Amendment, the liquidation preference as of the business day immediately before the date we send the related redemption notice) of the STRK Stock to be redeemed, plus accumulated and unpaid 
 regular dividends to, but excluding, the redemption date.                                                                                                                                                                                               |

| See “Description of STRK Stock—Redemption at Our Option—Optional Redemption.” |

| Redemption Upon Tax Event | In addition to the redemption right described above, we have the right, at our election, to redeem all, and not less than all, of the STRK Stock, at any time, for cash if a “tax event” (as defined in this STRK Stock Annex) occurs. We           
 refer to a redemption pursuant to this provision as a “tax redemption.” The redemption price for any STRK Stock to be redeemed pursuant to a tax redemption will be a cash amount equal to (i) the greater of (1) the liquidation                   
 preference (or, upon ratification of the STRK Amendment, the liquidation preference as of the business day immediately before the date the we send the related redemption notice) of the STRK Stock to be redeemed; and (2) the average of the last 
 reported sale prices per share of STRK Stock for the five consecutive trading days ending on, and including, the trading day immediately before the date on which we send the related redemption notice, plus (ii) accumulated and unpaid regular   
 dividends to, but excluding, the redemption date.                                                                                                                                                                                                   |

SA-4

| See “Description of STRK Stock—Redemption at Our Option—Tax Redemption.” |

| Repurchase at the Option of the 
 Preferred Stockholders After a  
 Fundamental Change