Company: MSTR
Filing Date: 2025-03-10
Form Type: 424B5
Source: 0001193125-25-050408
Chunk: 46

Company: Strategy Inc
Filing Date: 2025-03-10
Form: 424B5
Chunk 46
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 the perpetual strike preferred stock will not be entitled to receive that regular dividend.

Regular dividends on the perpetual strike preferred stock will accumulate from, and including, the last date to which regular dividends have been paid (or, if
no regular dividends have been paid, from, and including, February 5, 2025 (the first date the perpetual strike preferred stock was issued)) to, but excluding, the next regular dividend payment date. For the avoidance of doubt, if a dividend is
declared with respect to outstanding perpetual strike preferred stock, any perpetual strike preferred 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 perpetual strike preferred stock).

Declared regular dividends on the perpetual strike preferred stock will be 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 below under the caption “—Method of Payment.” References in this “Description of Perpetual Strike Preferred
Stock” section to regular dividends “paid” on the perpetual strike preferred stock, and any other similar language, will be deemed to include regular dividends paid thereon in shares of class A common stock in compliance with the
provisions described in this “—Regular Dividends” section.

If any accumulated regular dividend (or any portion thereof) on the perpetual
strike preferred stock is not paid on the applicable regular dividend payment date (or, if such regular dividend payment date is not a business day, the next business day), then additional regular dividends, which we refer to as “compounded
dividends,” will accumulate on the amount of such unpaid regular dividend, compounded quarterly at the regular dividend rate, from, and including, such regular dividend payment date to, but excluding, the date the same, including all compounded
dividends thereon, is paid in full. Each reference in this prospectus supplement to “accumulated” or “unpaid” regular dividends will include any compounded dividends that accumulate thereon pursuant to the provision described in
this paragraph. Each payment of declared regular dividends on the perpetual strike preferred stock will be applied to the earliest “regular dividend period” (as defined below under the caption “—Definitions”) for which
regular dividends have not yet been paid.