Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001193125-25-263759
Chunk: 21

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 21
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 harmed if we redeem the STRD Stock.

We have the right to redeem the STRD Stock in certain circumstances. See “Description of STRD Stock—Redemption at Our Option.” If we redeem
your STRD Stock, then you may be unable to reinvest any proceeds from the redemption in comparable investments at favorable dividend or interest rates.

Because the STRD Stock is held in book-entry form, holders of the STRD Stock must rely on DTC’s procedures to exercise their rights and remedies.

We initially issued the STRD Stock, and the STRD Stock sold in this offering will be initially issued, in the form of “global
certificates” registered in the name of Cede & Co., as nominee of DTC. Beneficial interests in global certificates are shown on, and transfers of global certificates are effected only through, the records maintained by DTC. Except in
limited circumstances, we will not issue physical certificates representing the STRD Stock. See “Description of STRD Stock —Book Entry, Settlement and Clearance.” Accordingly, if you own a beneficial interest in a global
certificate, then you will not be considered an owner or holder of the STRD Stock. Instead, DTC or its nominee will be the sole holder of the STRD Stock. Payments of cash dividends and other cash amounts on global certificates will be made to the
paying agent, who will remit the payments to DTC. We expect that DTC will then credit those payments to the DTC participant accounts that hold book-entry interests in the global certificates and that those participants will credit the payments to
indirect DTC participants. Unlike persons who have physical certificates registered in their names, owners of beneficial interests in global certificates will not have the direct right to act on our solicitations for consents or requests for waivers
or other actions from holders of the STRD Stock. Instead, those beneficial owners will be permitted to act only to the extent that they have received appropriate proxies to do so from DTC or, if applicable, a DTC participant. The applicable
procedures for the granting of these proxies may not be sufficient to enable owners of beneficial interests in global certificates to vote on any requested actions on a timely basis.

SA-12

USE OF PROCEEDS

From time to time, we may issue and sell shares of our STRD Stock having aggregate sales proceeds of up to $4,133,799,112.67. Because there is no minimum
offering amount required as a condition to effect this offering, the