Company: MSTR
Filing Date: 2025-10-06
Form Type: 8-K
Source: 0001193125-25-230977
Chunk: 6

Company: Strategy Inc
Filing Date: 2025-10-06
Form: 8-K
Item: Item 8.01
Chunk 6
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 Notes could have been potentially converted if the conversion features were triggered at the conversion rates then in effect based on the Convertible Notes then outstanding on such date was as follows:

  2028 Convertible Notes: 5,513,489 shares of class A common stock;  

  2029 Convertible Notes: 4,461,600 shares of class A common stock;  

  2030A Convertible Notes: 5,341,600 shares of class A common stock;  

  2030B Convertible Notes: 4,614,400 shares of class A common stock;  

  2031 Convertible Notes: 2,593,931 shares of class A common stock; and  

  2032 Convertible Notes: 3,915,200 shares of class A common stock.  

The 2028 Convertible Notes, 2030A Convertible Notes, 2031 Convertible Notes and 2032 Convertible Notes were convertible at the option of the holders during the three months ended September 30, 2025. During the three months ended September 30, 2025, the Company received a request to convert an immaterial principal amount of the 2031 Convertible Notes, which the Company settled in shares of class A common stock with fractional shares paid in cash during the quarter ending December 31, 2025, in accordance with the terms and provisions of the indenture governing the 2031 Convertible Notes.

The Convertible Notes may be convertible in future periods if one or more of the conversion conditions are satisfied. As of September 30, 2025, the last reported sale price of the Company’s class A common stock for at least 20 trading days during the 30 consecutive trading days ending on, and including, September 30, 2025 was greater than or equal to 130% of the conversion price of each of the 2028 Convertible Notes, 2030A Convertible Notes, 2031 Convertible Notes and 2032 Convertible Notes on each applicable trading day. Therefore, the 2028 Convertible Notes, 2030A Convertible Notes, 2031 Convertible Notes and 2032 Convertible Notes are convertible at the option of the holders of the respective Convertible Notes during the fourth quarter of 2025.

As of September 30, 2025, the Company has not redeemed any of the Convertible Notes.

As of September 30, 2025, the net