Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001193125-25-263759
Chunk: 49

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 49
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 then listed or, if the STRD Stock is not then listed on a U.S. national or regional securities exchange, on the principal other market on which the STRD Stock is then traded; and (ii) there is no market disruption event. If the STRD Stock is not so listed or traded, then “trading day” with respect to the STRD Stock means a business day. “Voting parity stock” means, with respect to any matter as to which preferred stockholders are entitled to vote pursuant to the provisions described above under the caption “—Voting Rights—Voting and Consent Rights with Respect to Specified Matters,” each class or series of outstanding dividend parity stock or liquidation parity stock, if any, upon which similar voting rights are conferred and are exercisable with respect to such matter. For the avoidance of doubt, voting parity stock will not include any securities of our subsidiaries. “Wholly owned subsidiary” of a person means any subsidiary of such person all of the outstanding capital stock or other ownership interests of which (other than directors’ qualifying shares) are owned by such person or one or more wholly owned subsidiaries of such person. Book Entry, Settlement and Clearance Global Certificates The STRD Stock will be initially issued in the form of one or more certificates (the “global certificates”) registered in the name of Cede & Co., as nominee of DTC, and will be deposited with the transfer agent as custodian for DTC. Only persons who have accounts with DTC (“DTC participants”) or persons who hold interests through DTC participants may own beneficial interests in a global certificate. We expect that, under procedures established by DTC:

| • |     | upon deposit of a global certificate with DTC’s custodian, DTC will credit the shares of STRD Stock          
 represented by such global certificate to the accounts of the DTC participants designated by the Agents; and |

| • |     | ownership of beneficial interests in a global certificate will be shown on, and transfers of such interests will 
 be effected only through, records maintained by DTC (with respect to interests of DTC                            |

SA-30

| participants) and the records of DTC participants (with respect to other owners of beneficial interests in the global certificate). |

Book-Entry Procedures for Global Certificates All interests in a global certificate will be subject to the operations and procedures of DTC. Accordingly, you must allow for sufficient time in order to comply with those operations and procedures if you wish to exercise any of your