Company: MSTR
Filing Date: 2025-07-29
Form Type: 8-K
Source: 0001193125-25-167987
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Company: Strategy Inc
Filing Date: 2025-07-29
Form: 8-K
Item: Item 3.03
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Item 3.03      Material Modification to Rights of Security Holders.  

On July 29, 2025, MicroStrategy Incorporated®d/b/a Strategy™(“ Strategy” or the “ Company”) completed an initial public offering (the “ Offering”) registered under the Securities Act of 1933, as amended (the “ Securities Act”), of 28,011,111 shares of a new class of its capital stock titled “ Variable Rate Series A Perpetual Stretch Preferred Stock” (the “ STRC Stock”). The gross proceeds from the Offering was approximately $2.521 billion. In connection with this issuance of STRC Stock, Strategy filed a Certificate of Designations (the “ Certificate of Designations”) with the Secretary of State of the State of Delaware designating an aggregate of 28,011,111 shares of, and establishing the terms of, the STRC Stock.

The STRC Stock accumulates cumulative dividends (“regular dividends”) at a variable rate (as described below) per annum on the stated amount of $100 per share (the “stated amount”) thereof. Regular dividends will be payable when, as and if declared by Strategy’s board of directors (“ Board”) or any duly authorized committee thereof, out of funds legally available for their payment, monthly in arrears on the last calendar day of each calendar month, beginning on August 31, 2025. The initial monthly regular dividend rate per annum is 9.00%. However, Strategy has the right, in its sole and absolute discretion, to adjust the monthly regular dividend rate per annum applicable to subsequent regular dividend periods. Strategy’s right to adjust the monthly regular dividend rate per annum is subject to certain restrictions. For example, Strategy is not permitted to reduce the monthly regular dividend rate per annum that will apply to any regular dividend period (i) by more than the following amount from the monthly regular dividend rate per annum applicable to the prior regular dividend period: the sum of (1) 25 basis points; and (2) the excess, if any, of (x) the one-monthterm SOFR rate on the first business day of such prior regular dividend period, over (y) the minimum of the one-monthterm SOFR rates that occur on the business days during the period from, and including, the first business day of such prior regular dividend period to, and including, the last business day of such prior regular dividend period; or (ii) to a rate per annum that is less than the one-monthterm SOFR rate