Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001193125-25-263746
Chunk: 69

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 69
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 income tax purposes. Issuers and holders of any shares of fast-pay stock would be
required to report their participation in the transaction on IRS Form 8886 on an annual basis with their U.S. federal income tax returns and would also be required to mail a copy of that form to the IRS Office of Tax Shelter Analysis. Failure to
comply with those disclosure requirements could result in the assessment by the IRS of interest, additions to tax and onerous penalties. In addition, an accuracy-related penalty applies under the Code to any reportable transaction understatement
attributable to a listed transaction if a significant purpose of the transaction is the avoidance or evasion of U.S. federal income tax. Furthermore, certain material advisors would also be required to file a disclosure statement with the IRS. If we
determine that we are required to file an IRS Form 8886 (including a protective filing) in connection with the potential issuance of fast-pay stock with respect to any STRF Stock, we intend to provide public
notice to the applicable holders of the STRF Stock, which notice may be by a press release, by publication on our investor relations website, or by filing a current report on Form 8-K with the Securities and
Exchange Commission.

Notwithstanding our intent not to issue STRF Stock that would be fast-pay stock, the rules
regarding the definition of fast-pay stock are unclear in certain respects and, therefore, the IRS could disagree with our determination and treat Offered Shares or Additional Shares as fast-pay stock. In addition, as discussed above under “—Multiple Issuances of STRF Stock—Effect of Fungible Trading,” the treatment of any shares of STRF Stock as fast-pay stock could affect other shares of STRF Stock if all such shares are indistinguishable with each other because they have the same CUSIP or other identifying number. Accordingly, even if your Offered Shares
are not fast-pay stock, if the IRS treated any shares of STRF Stock as fast-pay stock, you might be required to demonstrate to the IRS that you purchased your Offered
Shares in a different issuance in order to avoid fast-pay stock treatment.

Furthermore, treatment of any shares
of STRF Stock as fast-pay stock could adversely affect the trading price of all shares of STRF Stock. Accordingly, holders are strongly urged to consult their tax advisors regarding the Fast-Pay Stock Regulations and their potential consequences to an investment in the Offered Shares.

Information Reporting and Backup Withholding

In general, information reporting will