Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001193125-25-263900
Chunk: 57

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 57
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 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 STRK 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, 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-PaymentEvents—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). SA-34

Each share of STRK Stock will be entitled to one vote on each matter on which the holders of the STRK Stock
are entitled to vote separately as a class and not together with the holders of any other class or series of stock. The respective voting powers of the STRK Stock and all classes or series of voting parity stock entitled to vote on any matter
together as a single class will be determined (including for purposes of determining whether a plurality, majority or other applicable portion of votes has