Company: MSTR
Filing Date: 2025-05-22
Form Type: 424B5
Source: 0001193125-25-124554
Chunk: 12

Company: Strategy Inc
Filing Date: 2025-05-22
Form: 424B5
Chunk 12
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 the next business day) will initially be a rate per annum equal to the “regular             
 dividend rate” (as defined in this prospectus supplement) plus 100 basis points; provided, however, that until such regular dividend, together with compounded dividends thereon, is paid in full, such compounded dividend rate will             
 increase by 100 basis points per annum for each subsequent regular dividend period, up to a maximum rate of 18% per annum.                                                                                                                        |

| If we fail to declare a regular dividend on or prior to a given regular record date, such failure shall constitute the 
 issuance of a notice of                                                                                                |

S-10

| deferral. Upon issuance of such notice, we shall use commercially reasonable efforts over the following 60-day period to sell class A common stock and/or                                                                                               
 other securities to raise proceeds in an amount sufficient to cover any deferred dividends that would have been due with respect to the applicable regular dividend payment date, plus compounded dividends thereon, on the next “deferred regular      
 dividend payment date” (as defined in this prospectus supplement). Payment of any declared regular dividend on such deferred regular dividend payment date will be made, if at all, to the preferred stockholders of record as of the close of          
 business on the “deferred regular record date” (as defined in this prospectus supplement) immediately preceding such deferred regular dividend payment date. If we fail to pay in full such regular dividend, plus compounded dividends                 
 thereon, in cash on the applicable deferred regular dividend payment date, such failure shall constitute a failure to declare and pay regular dividends for purposes of determining whether a “regular dividend                                         
 non-payment event” (as defined in this prospectus supplement) has occurred with respect to the appointment of board members, as described further below. If we pay such regular dividend, plus compounded                                               
 dividends thereon, on the deferred regular dividend payment date in the manner described above, then the related delay in payment shall be deemed not to constitute a failure to declare or pay regular dividends for purposes of determining whether a 
 “regular dividend non-payment event” has occurred.                                                                                                                                                                                                      |

| See “Description of Perpetual Strife Preferred Stock—Regular Dividends.” |

| We expect to fund any dividends paid in cash on the perpetual strife preferred stock primarily through additional capital raising activities, including, but not limited to, at-the-market offerings of our class A common stock and our preferred stock. See “Risk Factors—Risks Relating to the Perpetual Strife Preferred Stock