Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001193125-25-263759
Chunk: 42

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 42
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, or other equivalents of, in each case however designated, the equity of such person, but excluding any debt securities
convertible into such equity.

“Class A common stock” means our class A common stock, $0.001 par value per share.

“Class B common stock” means our class B common stock, $0.001 par value per share.

“Close of business” means 5:00 p.m., New York City time.

“Depositary” means The Depository Trust Company or its successor, or any successor depositary for the applicable shares of STRD Stock.

“Depositary procedures” means, with respect to any transfer, exchange or other transaction involving a global certificate representing any STRD
Stock, or any beneficial interest in such certificate, the rules and procedures of the depositary applicable to such transfer, exchange or transaction.

“Dividend junior stock” means any class or series of our stock whose terms do not expressly provide that such class or series will rank senior to,
or equally with, the STRD Stock with respect to the payment of dividends (without regard to whether or not dividends accumulate cumulatively). Dividend junior stock includes our class A common stock and our class B common stock. For the avoidance of
doubt, dividend junior stock will not include any securities of our subsidiaries.

“Dividend parity stock” means any class or series of our
stock (other than the STRD Stock) whose terms expressly provide that such class or series series will rank equally with the STRD Stock with respect to the payment of dividends (without regard to whether or not dividends accumulate cumulatively). For
the avoidance of doubt, dividend parity stock will not include any securities of our subsidiaries.

SA-26

“Dividend senior stock” means any class or series of our stock whose terms expressly provide
that such class or series will rank senior to the STRD Stock with respect to the payment of dividends (without regard to whether or not dividends accumulate cumulatively). Dividend senior stock includes our STRF Stock, our STRC Stock and our STRK
Stock. For the avoidance of doubt, dividend senior stock will not include any securities of our subsidiaries.

“Exchange Act” means the U.S.
Securities Exchange Act of 1934, as amended.

“Fundamental change” means any of the following events:

(i) either (a) a “person” or “group” (within the meaning of Section 13(d)(3) of the Exchange Act) (other than