Company: MSTR
Filing Date: 2025-07-31
Form Type: 424B5
Source: 0001193125-25-170517
Chunk: 53

Company: Strategy Inc
Filing Date: 2025-07-31
Form: 424B5
Chunk 53
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, it is junior to our STRF Stock and our existing and future indebtedness, structurally junior to the liabilities of our subsidiaries and subject to the rights and preferences of any other class or series of preferred stock then
outstanding.”

Voting Rights

The STRC Stock has
no voting rights except as described below or as provided in our certificate of incorporation or required by the Delaware General Corporation Law.

Voting and Consent Rights with Respect to Specified Matters

Subject to the other provisions described below, while any STRC Stock is outstanding, each of the following events will require, and cannot be effected
without, the affirmative vote or consent of preferred stockholders, and holders of each class or series of voting parity stock, if any, with similar voting or consent rights with respect to such event, representing at least a majority of the
combined outstanding voting power of the STRC Stock and such voting parity stock, if any:

(1) any amendment, modification or repeal of any provision of
our certificate of incorporation or the certificate of designations that materially adversely affects the special rights, preferences or voting powers of the STRC Stock (other than an amendment, modification or repeal permitted by the provisions
described below under the caption “—Certain Amendments Permitted Without Consent”); and

(2) our consolidation or combination with, or
merger with or into, another person, or any binding or statutory share exchange or reclassification involving the STRC Stock, in each case unless:

(a) the
STRC Stock either (i) remains outstanding after such consolidation, combination, merger, share exchange or reclassification; or (ii) is converted or reclassified into, or is exchanged for, or represents solely the right to receive,
preference securities of the continuing, resulting or surviving person of such consolidation, combination, merger, share exchange or reclassification, or the parent thereof;

(b) the STRC Stock that remains outstanding or such preference securities, as applicable, have rights, preferences and voting powers that, taken as a whole,
are not materially less favorable (as determined by our board of directors in good faith) to the holders thereof than the rights, preferences and voting powers, taken as a whole, of the STRC Stock immediately before the consummation of such
consolidation, combination, merger, share exchange or reclassification; and

(c) the issuer of the STRC Stock that remains outstanding or such preference
securities, as applicable, is a corporation duly organized and existing under the laws of the