Company: MSTR
Filing Date: 2025-07-07
Form Type: 424B5
Source: 0001193125-25-155880
Chunk: 45

Company: Strategy Inc
Filing Date: 2025-07-07
Form: 424B5
Chunk 45
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 powers of the STRD Stock and all classes or series of voting parity stock entitled to vote on any matter together as a single class will be determined (including for purposes of determining whether a plurality, majority or other applicable portion of votes has been obtained) in proportion to their respective liquidation amounts. Solely for these purposes, the liquidation amount of the STRD Stock or any such class or series of voting parity stock will be the maximum amount payable in respect of the STRD Stock or such class or series, as applicable, assuming we are liquidated on the record date for the applicable vote or consent (or, if there is no record date, on the date of such vote or consent). A consent or affirmative vote of the preferred stockholders pursuant to the provisions described above under the caption “—Voting and Consent Rights with Respect to Specified Matters” may be given or obtained either in writing without a meeting or in person or by proxy at a regular annual meeting or a special meeting of stockholders. S-32

Redemption at Our Option

The STRD Stock is not redeemable at our option except pursuant to an optional redemption or a tax redemption, as described below.

Optional Redemption

Subject to the terms of the
certificate of designations, we have the right, at our election, to redeem all, but not less than all, of the outstanding STRD Stock, at any time for cash if the total number of shares of STRD Stock then outstanding is less than 25% of the total
number of shares of STRD Stock that have been issued in all offerings we have made of STRD Stock as of such date, taken together. We refer to a redemption pursuant to the provision described above as an “optional redemption.”

Tax Redemption

Subject to the terms of the
certificate of designations, we have the right, at our election, to redeem all, and not less than all, of the STRD Stock, at any time, for cash if a “tax event” (as defined below under the caption “—Definitions”) occurs. We
refer to a redemption pursuant to this provision described in this paragraph as a “tax redemption.”

Redemption Date

The redemption date will be a business day of our choosing that is no more than 60, nor less than 15, calendar days after the date we send the related
redemption notice, as described below.

Redemption Price

The redemption price for a share of STRD Stock called for either optional redemption or tax redemption will be an amount equal