Company: MSTR
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001193125-25-100720
Chunk: 43

Company: Strategy Inc
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 43
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 Alteryx, Inc., Coupa Software Inc., Everbridge, Inc., Evo Payments, Inc., and New Relic, Inc. has been acquired and is no longer publicly traded. |

As of June 1, 2022, our market capitalization was at the 38 thpercentile relative to our peer group, and for the year ended December 31, 2021 (the most recently completed fiscal year when this peer group was approved), our revenue was at the 38 thpercentile relative to our peer group. The Compensation Committee reviewed the relevance of the peer group in the third and fourth quarters of 2024 and developed two separate peer groups for use by the Compensation Committee in assessing executive officer compensation for 2025: a peer group consisting of companies engaged in the development and sale of enterprise software, and an

| 24 |     | STRATEGY | 2025 Proxy Statement |

alternative peer group consisting of companies that engage in digital assets and share other similarities with the Company. The Compensation Committee and Mr. Le, as applicable, referred to the peer group developed in 2022 when reviewing and determining 2024 executive compensation, and the Compensation Committee referred to these updated peer groups with respect to 2025 executive compensation determinations, using the enterprise software peer group for compensation decisions with respect to officers primarily engaged in the Company’s software operations, and the alternative peer group for compensation decisions with respect to officers that contribute substantially to the Company’s bitcoin strategy. Determining Compensation Our executive compensation decisions are primarily based on a review of our performance and a subjective assessment of the executive officer’s performance during the year against strategic, operational, and financial objectives. The Compensation Committee takes, and prior to the transition date, the President & CEO took into account the scope of the executive officer’s responsibilities, unique leadership skills and management experience, strengths and abilities in his respective area of responsibility, employment and compensation history with us, overall compensation arrangements, and long-term potential to enhance stockholder value, all in the context of general economic and industry conditions, Company performance, and the executive compensation practices of the companies in our peer group. As discussed in greater detail below, in light of the significant value that our executive officers have generated for our stockholders through execution of our bitcoin strategy since our adoption of this strategy in 2020, the Compensation Committee also considers, and prior to the transition date, the President & CEO considered the contributions of officers who are most critically involved in the execution of our bitcoin strategy when making compensation determin