Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001193125-25-263731
Chunk: 4

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 4
---
 2,914,040 and 463,596 additional shares of class A common stock available as of October 31, 2025, for future    
 issuance under our 2023 Equity Incentive Plan, as amended, and 2021 Employee Stock Purchase Plan, respectively; |

| • |     | 19,640,250 shares of class A common stock issuable upon conversion of shares of class B common stock issued and 
 outstanding as of October 31, 2025;                                                                             |

| • |     | 5,513,489 shares of class A common stock potentially issuable as of October 31, 2025, upon conversion of our 
 0.625% Convertible Senior Notes due 2028, subject to adjustment in accordance with the terms of such notes;  |

| • |     | 4,461,600 shares of class A common stock potentially issuable as of October 31, 2025, upon conversion of our 0% 
 Convertible Senior Notes due 2029, subject to adjustment in accordance with the terms of such notes;            |

| • |     | 5,341,600 shares of class A common stock potentially issuable as of October 31, 2025, upon conversion of our 
 0.625% Convertible Senior Notes due 2030, subject to adjustment in accordance with the terms of such notes;  |

| • |     | 4,614,400 shares of class A common stock potentially issuable as of October 31, 2025, upon conversion of our 0% 
 Convertible Senior Notes due 2030, subject to adjustment in accordance with the terms of such notes;            |

| • |     | 2,593,931 shares of class A common stock potentially issuable as of October 31, 2025, upon conversion of our 
 0.875% Convertible Senior Notes due 2031, subject to adjustment in accordance with the terms of such notes;  |

| • |     | 3,915,200 shares of class A common stock potentially issuable as of October 31, 2025, upon conversion of our 
 2.25% Convertible Senior Notes due 2032, subject to adjustment in accordance with the terms of such notes;   |

| • |     | 1,391,851 shares of class A common stock issuable upon conversion of the 13,918,518 shares of 8.00