Company: MSTR
Filing Date: 2025-07-31
Form Type: 424B5
Source: 0001193125-25-170517
Chunk: 50

Company: Strategy Inc
Filing Date: 2025-07-31
Form: 424B5
Chunk 50
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 any such plan or contract, in each case whether for payment of applicable taxes or the exercise price, 
 or otherwise; (y) cash paid in connection therewith in lieu of issuing any fractional share; and (z) purchases of junior stock pursuant to a publicly announced repurchase plan to offset the dilution resulting from issuances pursuant to any          
 such plan or contract; provided, however, that repurchases pursuant to this clause (z) will be permitted pursuant to the exception described in this bullet point only to the extent that the number of shares of junior stock so                        
 repurchased does not exceed the related “number of incremental diluted shares” (as defined below under the caption “—Definitions”);                                                                                                                      |

| • |     | purchases, or other payments in lieu of the issuance, of any fractional share of junior stock in connection with                                   
 the conversion, exercise or exchange of such junior stock or of any securities convertible into, or exercisable or exchangeable for, junior stock; |

| • |     | purchases, or other payments in lieu of the issuance, of any fractional share of dividend parity stock in                                                                            
 connection with the conversion, exercise or exchange of such dividend parity stock or of any securities convertible into, or exercisable or exchangeable for, dividend parity stock; |

| • |     | (x) dividends and distributions of junior stock, or rights to acquire junior stock, pursuant to a stockholder 
 rights plan; and (y) the redemption or repurchase of such rights pursuant to such stockholder rights plan;    |

| • |     | purchases of junior stock or dividend parity stock pursuant to a binding contract (including a stock repurchase                                                                                                                                      
 plan) to make such purchases, if such contract was in effect on the immediately preceding regular dividend payment date and such purchases, if effected immediately before such regular dividend payment date, would not have been prohibited by the 
 provision described in the first sentence under this “—Limitation on Certain Payments” section;                                                                                                                                                      |

| • |     | the acquisition, by us or any of our subsidiaries, of record ownership of any junior stock or dividend parity 
 stock solely on behalf of persons (other than us or any of our subsidiaries) that are the beneficial          |

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| owners thereof, including as trustee or custodian (or as a result of our acquisition of another person that was, immediately before such acquisition, the record or beneficial owner of such junior 
 stock or dividend parity stock, as applicable, provided such record or beneficial ownership was not