Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001193125-25-263759
Chunk: 6

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 6
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 dividends are not cumulative, we will not have any obligation to pay any regular dividend for any regular dividend period unless we declare such regular dividend prior to the regular dividend payment date for such regular     
 dividend period. No dividend, interest or other amount will accumulate or accrue on any unpaid regular dividends, regardless of whether regular dividends are declared for any future regular dividend period. Declared regular dividends on the STRD 
 Stock will be payable solely in cash in the manner, and subject to the provisions, described in this STRD Stock Annex.                                                                                                                                |

| See “Description of STRD Stock —Regular Dividends.” |

| We expect to fund any dividends paid in cash on the STRD Stock primarily through additional capital raising activities, including, but not limited to,                                                                         
 at-the-market offerings of our class A common stock. See “Risk Factors—Risks Related to the STRD Stock and This Offering—We may not have sufficient                                                                            
 funds to pay dividends in cash on the STRD Stock, or we may choose not to declare or pay dividends on the STRD Stock. In addition, regulatory and contractual restrictions may prevent us from declaring or paying dividends.” |

| No Preemptive and Conversion Rights | The STRD Stock is not convertible into or exchangeable for any other securities or property and is not entitled to any preemptive or similar rights. |

| Optional Redemption | 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 the total number of shares of all STRD Stock then outstanding is less than 25% of the total number of shares of STRD Stock      
 originally issued in the initial offering for STRD Stock and in any future offering taken together. We refer to a redemption pursuant to this provision as an “optional redemption.” The redemption price for any STRD Stock to be redeemed           
 pursuant to an optional redemption will be a cash amount equal to the liquidation preference of the STRD Stock as of the business day before the date we send the related redemption notice, plus declared and unpaid regular dividends, if any, that 
 will have accrued to, but excluding, the redemption date. For the avoidance of doubt, the redemption price will not include payment of any undeclared regular dividends.                                                                              |

| See “Description of STRD Stock —Redemption at Our Option—Optional Redemption.” |

| Redemption Upon Tax Event | In addition to the redemption right described above, we have the right, at our election, to redeem