Company: MSTR
Filing Date: 2025-05-22
Form Type: 424B5
Source: 0001193125-25-124554
Chunk: 11

Company: Strategy Inc
Filing Date: 2025-05-22
Form: 424B5
Chunk 11
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 of doubt, a holder of any shares of perpetual strife preferred stock 
 that are issued in this offering after 5:00 p.m.,                                                                                       |

S-9

| New York City time, on a regular record date relating to a declared regular dividend on the perpetual strife preferred stock, will not be entitled to receive such regular dividend with 
 respect to such shares.                                                                                                                                                                  |

| Regular Dividends | The perpetual strife preferred stock accumulates cumulative dividends, which we refer to as “regular dividends,” at a rate per annum equal to 10.00% on the stated amount thereof, regardless of whether or not declared or funds are                    
 legally available for their payment. Subject to the other provisions described in this prospectus supplement, regular dividends 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 each regular dividend payment date to the preferred stockholders of record as of the close of business 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 perpetual strife preferred stock, any perpetual strife 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 strife preferred stock).         |

| Declared regular dividends on the perpetual strife preferred stock are payable solely in cash, in the manner, and subject to the provisions, described in this prospectus supplement. |

| If any accumulated regular dividend (or any portion thereof) on the perpetual strife 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 “compounded 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. The compounded dividend rate applicable to any unpaid regular dividend that was 
 due on a “regular dividend payment date” (as defined in this prospectus supplement) (or, if such regular dividend payment date is not a business day,