Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001193125-25-263900
Chunk: 77

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 77
---
 dividends to, but excluding, the latest possible fundamental change repurchase date for such fundamental 
 change; and (ii) without regard to the provision described in the second sentence of the second paragraph under the caption “—Fundamental Change Permits Preferred Stockholders to Require Us to Repurchase STRK                                    
 Stock—Generally”); and                                                                                                                                                                                                                              |

| • |     | we timely send the notice relating to such class A common stock change event pursuant to the provisions described                                                                                        
 above under the caption “—Conversion Rights—Effect of Class A Common Stock Change Event—Notice of Class A Common Stock Change Event” and include, in such notice, a statement that we are relying on the 
 provisions described in this “—No Repurchase Right in Certain Circumstances” section.                                                                                                                    |

We refer to any fundamental change with respect to which, in accordance with the provisions described above, we do not offer to repurchase any STRK Stock as an “exempted fundamental change.” No Preemptive Rights Without limiting the rights of preferred stockholders described above (including in connection with the issuance of class A common stock or reference property upon conversion of the STRK Stock), the STRK Stock does not have any preemptive rights to subscribe for or purchase any of our securities. Calculations Responsibility; Schedule of Calculations Except as otherwise provided in the certificate of designations, we will be responsible for making all calculations called for under the certificate of designations or the STRK Stock, including determinations of the conversion rate, the daily VWAP, the regular dividend stock price, the floor price, the last reported sale prices and accumulated regular dividends on the STRK Stock. We will make all calculations in good faith, and, absent manifest error, our calculations will be final and binding on all preferred stockholders. We will provide a schedule of these calculations to any preferred stockholder or any beneficial owner of any STRK Stock upon written request. Calculations Aggregated for Each Preferred Stockholder The composition of the consideration due upon conversion of, the payment of the fundamental change repurchase price or redemption price for, and the payment on a regular dividend payment date of regular dividends on, the STRK Stock of any preferred stockholder will (in the case of a global certificate, to the extent permitted by, and practicable under, the depositary procedures) be computed based on the total number of shares of STRK Stock of such preferred stockholder being converted with the same conversion date (in the case of consideration due upon conversion), to be repurchased