Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001193125-25-263719
Chunk: 27

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 27
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ous penalties. In addition, an accuracy-related penalty applies under the Code to any reportable transaction understatement attributable to a listed transaction if a significant purpose of the
transaction is the avoidance or evasion of U.S. federal income tax. Furthermore, certain material advisors would also be required to file a disclosure statement with the IRS. If we determine that we are required to file an IRS Form 8886 (including a
protective filing) in connection with the potential issuance of fast-pay stock with respect to any STRC Stock, we intend to provide public notice to the applicable holders of the STRC Stock, which notice may
be by a press release, by publication on our investor relations website, or by filing a current report on Form 8-K with the SEC.

Notwithstanding our intent not to issue STRC Stock that would be fast-pay stock, the rules regarding the definition of
fast-pay stock are unclear in certain respects and, therefore, the IRS could disagree with our determination and treat Offered Shares or Additional Shares as fast-pay
stock. In addition, even if a particular issuance of Offered Shares or Additional Shares is not fast-pay stock, the treatment of any other shares of STRC Stock—including other Offered Shares or any
Additional Shares—as fast-pay stock (for example, as a result of a determination by the IRS) could result in adverse consequences to holders of all shares of STRC Stock because the shares may be
indistinguishable from each other. See “—An issuance of STRC Stock could have an adverse tax profile, which could subject holders of any other shares of STRC Stock to adverse consequences” below.

Accordingly, holders of STRC Stock are strongly urged to consult their tax advisors regarding the Fast-Pay Stock
Regulations and their potential consequences to an investment in the STRC Stock.

An issuance of STRC Stock could have an adverse tax profile, which could subject holders of any other shares of STRC Stock to adverse consequences.

If we issue shares of STRC Stock—whether Offered Shares or
Additional Shares—that have a different, and potentially adverse, tax profile or treatment for U.S. federal income tax purposes from your shares of STRC Stock, since all such shares would trade under the same CUSIP or other identifying number,
your shares of STRC Stock may be treated by subsequent purchasers, withholding agents and potentially the IRS as having the same adverse tax profile or treatment if they are not otherwise distinguishable from the STRC Stock subject to such adverse
treatment.

For example