Company: MSTR
Filing Date: 2025-05-01
Form Type: 424B5
Source: 0001193125-25-109950
Chunk: 37

Company: Strategy Inc
Filing Date: 2025-05-01
Form: 424B5
Chunk 37
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 indenture and the senior debt securities. No Protection in the Event of a Change in Control.Unless we indicate otherwise in a prospectus supplement with respect to a particular series of senior debt securities, the senior debt securities will not contain any provisions that may afford holders of the senior debt securities protection in the event we have a change in control or in the event of a highly leveraged transaction (whether or not such transaction results in a change in control). -14-

Events of Default.Unless we indicate otherwise in a prospectus supplement with respect to a particular series of senior debt securities, the following are events of default under the senior indenture with respect to senior debt securities of each series:

| • |     | failure to pay interest on any senior debt securities of such series when due and payable, if that default 
 continues for a period of 30 days (or such other period as may be specified for such series);              |

| • |     | failure to pay principal on the senior debt securities of such series when due and payable whether at maturity,                           
 upon redemption, by declaration or otherwise (and, if specified for such series, the continuance of such failure for a specified period); |

| • |     | default in the performance of or breach of any of our covenants or agreements in the senior indenture applicable                                                                                                                                         
 to senior debt securities of such series, other than a covenant breach which is specifically dealt with elsewhere in the senior indenture, and that default or breach continues for a period of 90 days after we receive written notice from the trustee 
 or from the holders of 25% or more in aggregate principal amount of the senior debt securities of such series;                                                                                                                                           |

| • |     | certain events of bankruptcy or insolvency, whether or not voluntary; and |

| • |     | any other event of default provided for in such series of senior debt securities as may be specified in the 
 applicable prospectus supplement.                                                                           |

Unless we indicate otherwise in a prospectus supplement with respect to a particular series of senior debt securities, the default by us under any other debt, including any other series of our debt securities, is not a default under the senior indenture. If an event of default other than an event of default specified in the fourth bullet point above occurs with respect to a series of senior debt securities and is continuing under the senior indenture, then, and in each such case, either the trustee or the holders of not less than 25% in aggregate principal amount of such series then outstanding under