Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001193125-25-263900
Chunk: 8

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 8
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 on the regular record date immediately      
 preceding the applicable regular dividend payment date. For the avoidance of doubt, if a dividend is declared with respect to outstanding STRK Stock, any STRK Stock offered and sold hereby, and issued at or before 5:00 p.m., New York City time, on 
 the record date for such declared dividend, will be entitled to payment of such declared dividend (including the portion that was accrued but unpaid before the issuance of such STRK Stock).                                                           |

| Declared regular dividends on the STRK Stock are payable, at our election, in cash, shares of our class A common stock or a                                                                                 
 combination of cash and shares of our class A common stock, in the manner, and subject to the provisions, described in this STRK Stock Annex. If we elect to pay any portion of a declared regular dividend |

SA-2

| in shares of our class A common stock, then those shares will be valued at 95% of the “daily VWAP” (as defined in this STRK Stock Annex) per share of class A common stock on the third                                                                   
 “VWAP trading day” (as defined in this STRK Stock Annex) preceding the regular dividend payment date for such regular dividend, which we refer to as “regular dividend stock price.” However, notwithstanding anything to the                             
 contrary, in no event will the total number of shares of class A common stock issuable per share of STRK Stock as payment for a declared regular dividend exceed an amount equal to (x) the total dollar amount of such declared regular dividend         
 per share of STRK Stock (including, for the avoidance of doubt, the portion thereof that we have elected to pay in shares of class A common stock), divided by (y) the “floor price” (as defined in this STRK Stock Annex). If the                        
 number of shares that we deliver is limited as a result of this provision, then we will, to the extent we are legally able to do so and not prohibited by the terms of any “dividend senior stock” (as defined in this STRK Stock Annex),                 
 declare and pay the related deficiency in cash. For the avoidance of doubt, to the extent we fail to pay such deficiency in cash, the amount of such deficiency will constitute unpaid regular dividends and will accumulate compounded dividends as      
 described in this STRK Stock Annex. The initial floor price is $119.03 per share of class A common stock and is subject to adjustment in the manner described in this STRK Stock