Company: MSTR
Filing Date: 2025-07-07
Form Type: 424B5
Source: 0001193125-25-155880
Chunk: 36

Company: Strategy Inc
Filing Date: 2025-07-07
Form: 424B5
Chunk 36
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as defined below under the caption “—Definitions”) to the preferred stockholders of record as of the close
of business on the “regular record date” (as defined below under the caption “—Definitions”) immediately preceding the applicable regular dividend payment date. Since regular dividends are not cumulative, we will not have
any obligation to pay any regular dividend for any regular dividend period unless we declare such regular dividend prior to the regular dividend payment date for such regular dividend period. No dividend, interest or other amount will accumulate or
accrue on any unpaid regular dividends, regardless of whether regular dividends are declared for any future regular dividend period.

Regular dividends on
the STRD Stock will accrue from, and including, the last regular dividend payment date (or, in the case of the first regular dividend period, from, and including, June 10, 2025), to, but excluding, the next regular dividend payment date (in
each case, regardless of whether regular dividends were declared or paid in respect of any prior regular dividend period).

Declared regular dividends on
the STRD Stock will be payable solely in cash in the manner, and subject to the provisions, described below under the caption “—Method of Payment.”

Accrued regular dividends will be computed on the basis of a 360-day year comprised of twelve 30-day months.

The certificate of designations does not require us to declare regular dividends on the STRD Stock, even
if funds are legally available for their payment. Accordingly, we may choose not to declare regular dividends on the STRD Stock. See “Risk Factors—Risks Related to the STRD Stock and This Offering—We may not have sufficient funds to
pay dividends in cash on the STRD Stock, or we may choose not to declare or pay dividends on the STRD Stock. In addition, regulatory and contractual restrictions may prevent us from declaring or paying dividends.”

Method of Payment

Each declared regular dividend
on the STRD Stock will be paid in cash.

Treatment of Dividends Upon Repurchase Upon Fundamental Change or Redemption

If the “fundamental change repurchase date” (as defined below under the caption “—Fundamental Change Permits Preferred Stockholders to
Require Us to Repurchase STRD Stock”), or redemption date of any share of STRD Stock to be repurchased or redeemed is after a regular record date for a declared regular dividend on the STRD Stock and on or before the next regular dividend
payment date, then the holder of such share at the close of business