Company: MSTR
Filing Date: 2025-07-07
Form Type: 424B5
Source: 0001193125-25-155880
Chunk: 41

Company: Strategy Inc
Filing Date: 2025-07-07
Form: 424B5
Chunk 41
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 that preferred stockholder. We or any other withholding agent may also require alternative arrangements to collect any withholding tax to ensure that we or such withholding agent is not out-of-pocketfor any potential withholding tax liability. Rights Upon Our Liquidation, Dissolution or Winding Up If we liquidate, dissolve or wind up, whether voluntarily or involuntarily, then, subject to the rights of any of our creditors, each share of STRD Stock will entitle the holder thereof to receive payment for the following amount out of our assets or funds legally available for distribution to our stockholders, before any such assets or funds are distributed to, or set aside for the benefit of, any liquidation junior stock:

| • |     | the “liquidation preference” (as defined below under the caption “—Definitions”) per        
 share of STRD Stock as of the business day immediately before the date of such payment; and |

| • |     | all declared and unpaid regular dividends, if any, that will have accrued on such share to, but excluding, the 
 date of such payment.                                                                                          |

Upon payment of such amount in full on the outstanding STRD Stock, holders of the STRD Stock will have no rights to our remaining assets or funds, if any. If such assets or funds are insufficient to fully pay such amount on all outstanding shares of STRD Stock and the corresponding amounts payable in respect of all outstanding shares of liquidation parity stock, if any, then, subject to the rights of any of our creditors or holders of any outstanding liquidation senior stock, such assets or funds will be distributed ratably on the outstanding shares of STRD Stock and liquidation parity stock in proportion to the full respective distributions to which such shares would otherwise be entitled. For purposes of the provisions described above in this “—Rights Upon Our Liquidation, Dissolution or Winding Up” section, our consolidation or combination with, or merger with or into, or the sale, lease or other transfer of all or substantially all of our assets (other than a sale, lease or other transfer in connection with our liquidation, dissolution or winding up) to, another person will not, in itself, constitute our liquidation, dissolution or winding up, even if, in connection therewith, the STRD Stock is converted into, or is exchanged for, or represents solely the right to receive, other securities, cash or other property, or any combination of the foregoing. The certificate of designations for our STRD Stock does not contain any provision requiring funds