Company: MSTR
Filing Date: 2025-06-10
Form Type: 8-K
Source: 0001193125-25-138477
Chunk: 1

Company: Strategy Inc
Filing Date: 2025-06-10
Form: 8-K
Item: Item 3.03
Chunk 1
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 (the “ Class A Common Stock”), and class B common stock, $0.001 par value per share (the “ Class B Common Stock”), with respect to the payment of dividends and the distribution of assets upon Strategy’s liquidation, dissolution or winding up. If Strategy liquidates, dissolves or winds up, whether voluntarily or involuntarily, then the holders of STRD Stock will be entitled to receive payment for the Liquidation Preference of, and all declared and unpaid Regular Dividends, if any, that will have accrued on, their shares of STRD Stock out of Strategy’s assets or funds legally available for distribution to its stockholders, before any such assets or funds are distributed to, or set aside for the benefit of, holders of the Class A Common Stock, Class B Common Stock or other junior stock. The STRD Stock will be junior to Strategy’s 8.00% Series A Perpetual Strike Preferred Stock, 8.00% Series A Perpetual Strife Preferred Stock, existing and future indebtedness, structurally junior to the liabilities of Strategy’s subsidiaries and subject to the rights and preferences of any other class or series of preferred stock then outstanding.

The Liquidation Preference of the STRD Stock shall initially be the Stated Amount per share of STRD Stock; provided, however, that, effective immediately after the close of business on each business day after the date on which shares of STRD Stock were issued in the Offering (the “ Initial Issue Date”) (and, if applicable, during the course of a business day on which any sale transaction to be settled by the issuance of STRD Stock is executed, from the exact time of the first such sale transaction during such business day until the close of business of such business day), the Liquidation Preference per share of STRD Stock will be adjusted to be the greatest of (i) the Stated Amount per share of STRD Stock; (ii) in the case of any business day with respect to which Strategy has, on such business day or on any business day during the ten trading day period preceding such business day, executed any sale transaction to be settled by the issuance of STRD Stock, an amount equal to the Last Reported Sale Price (as defined in the Certificate of Designations) per share of STRD Stock on the trading day immediately before such business day; and (iii) the arithmetic average of the Last Reported Sale Prices per share of STRD Stock for each trading day of the ten consecutive trading days immediately preceding such business day,