Company: MSTR
Filing Date: 2025-03-10
Form Type: 424B5
Source: 0001193125-25-050408
Chunk: 61

Company: Strategy Inc
Filing Date: 2025-03-10
Form: 424B5
Chunk 61
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 provide for or confirm the issuance of additional perpetual strike preferred stock pursuant to the certificate of 
 designations;                                                                                                     |

| • |     | provide for any transfer restrictions that apply to any shares of perpetual strike preferred stock (other than                                                                                                                             
 the shares of perpetual strike preferred stock issued in this offering and any shares of perpetual strike preferred stock issued in exchange therefor or in substitution thereof) that, at the time of their original issuance, constitute 
 “restricted securities” within the meaning of Rule 144 under the Securities Act or that are originally issued in reliance upon Regulation S under the Securities Act; or                                                                   |

| • |     | make any other change to our certificate of incorporation, the certificate of designations or the certificates                                                                                                                                         
 representing the perpetual strike preferred stock that does not, individually or in the aggregate with all other such changes, adversely affect the rights of any preferred stockholder (other than preferred stockholders that have consented to such 
 change), as such, in any material respect (as determined by our board of directors in good faith).                                                                                                                                                     |

Procedures for Voting and Consents If any vote or consent of the preferred stockholders will be held or solicited, including at a regular annual meeting or a special meeting of stockholders, then our board of directors will adopt customary rules and procedures at its discretion to govern such vote or consent, subject to the other provisions described in this section. Such rules and procedures may include fixing a record date to determine the preferred stockholders (and, S-43

if applicable, holders of voting parity stock) that are entitled to vote or provide consent, as applicable, rules governing the solicitation and use of proxies or written consents and customary
procedures for the nomination and designation, by preferred stockholders (and, if applicable, holders of voting parity stock), of preferred stock directors for election. Without limiting the foregoing, the persons calling any special meeting of
stockholders pursuant to the provisions described above under “—Right to Designate up to Two Preferred Stock Directors Upon Regular Dividend Non-Payment Events—The Right to Call a Special
Meeting to Elect a Preferred Stock Director” will, at their election, be entitled to specify one or more preferred stock director nominees in the notice referred to in such section, if such special meeting is scheduled to include the election
of any preferred stock director (including an election to fill any vacancy in the office of any preferred stock director).

Each share of perpetual strike
preferred stock will be entitled to one vote on each matter on which