Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001193125-25-263900
Chunk: 90

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 90
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 or STRK Stock, as applicable, any day on which (i) trading in our class A common stock or STRK Stock, as applicable, generally occurs on the principal U.S. national or regional securities exchange on which our class A common stock or STRK Stock, as applicable, is then listed or, if our class A common stock or STRK Stock, as applicable, is not then listed on a U.S. national or SA-56

regional securities exchange, on the principal other market on which our class A common stock or STRK Stock, as applicable, is then traded; and (ii) there is no “market disruption event” (as defined above in this “—Definitions” section). If our class A common stock or STRK Stock, as applicable, is not so listed or traded, then “trading day” with respect to our class A common stock or STRK Stock, as applicable, means a business day. “Voting parity stock” means, with respect to any matter as to which preferred stockholders are entitled to vote pursuant to the provisions described above under the caption “—Voting Rights—Right to Designate up to Two Preferred Stock Directors Upon Regular Dividend Non-PaymentEvents” or “—Voting and Consent Rights with Respect to Specified Matters,” each class or series of outstanding dividend parity stock or liquidation parity stock, if any, upon which similar voting rights are conferred and are exercisable with respect to such matter. For the avoidance of doubt, voting parity stock will not include any securities of our subsidiaries. “VWAP market disruption event” means, with respect to any date, (i) the failure by the principal U.S. national or regional securities exchange on which our class A common stock is then listed, or, if our class A common stock is not then listed on a U.S. national or regional securities exchange, the principal other market on which our class A common stock is then traded, to open for trading during its regular trading session on such date; or (ii) the occurrence or existence, for more than one-halfhour period in the aggregate, of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the relevant exchange or otherwise) in our class A common stock or in any options contracts or futures contracts relating to our class A common stock, and such suspension or limitation occurs or exists at any time before 1:00 p.m., New York City time, on such date. “VWAP trading