Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001193125-25-263746
Chunk: 2

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 2
---
 rate per annum equal to 10.00% on the stated amount thereof, which is $100 per share of STRF Stock. Regular dividends on the STRF Stock are payable when, as and if declared by our board of directors or any duly authorized committee thereof, out of funds legally available for their payment to the extent paid in cash, quarterly in arrears on March 31, June 30, September 30 and December 31 of each year. Declared regular dividends on the STRF Stock are payable solely in cash in the manner, and subject to the provisions, described in this STRF Stock Annex. We have the right, at our election, to redeem all, and not less than all, of the STRF Stock, at any time, for cash if the total number of shares of all STRF Stock then outstanding is less than 25% of the total number of shares of STRF Stock that have been issued in all offerings we have made of STRF Stock as of such date, taken together. In addition, we have the right to redeem all, but not less than all, of the STRF Stock if a “tax event” (as defined in this STRF Stock Annex) occurs. The redemption price for any STRF Stock to be redeemed will be a cash amount equal to the liquidation preference of the STRF Stock to be redeemed as of the business day before the date we send the related redemption notice, plus accumulated and unpaid regular dividends to, but excluding, the redemption date. If a “fundamental change” (as defined in this STRF Stock Annex) occurs, then, except as described in this STRF Stock Annex, preferred stockholders will have the right (which we refer to as the “fundamental change repurchase right”) to require us to repurchase some or all of their shares of STRF Stock at a cash repurchase price equal to the stated amount of the STRF Stock to be repurchased, plus accumulated and unpaid regular dividends, if any, to, but excluding the fundamental change repurchase date. Our business and an investment in the STRF Stock involve significant risks. These risks are described under the caption “ Risk Factors” beginning on page SA-7of this STRF Stock Annex, under the caption “Risk Factors”, “Risk Factors Related to the ATM Offering Programs” and “Risk Factor Updates” in the accompanying base prospectus supplement dated November 4, 2025 and prospectus and in the documents incorporated by reference into the accompanying base prospectus supplement