Company: MSTR
Filing Date: 2025-06-10
Form Type: 8-K
Source: 0001193125-25-138477
Chunk: 2

Company: Strategy Inc
Filing Date: 2025-06-10
Form: 8-K
Item: Item 3.03
Chunk 2
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 provided, however, that, if applicable, the reference in this clause (iii) to ten will be replaced by such lesser number of trading days as have elapsed during the period from, and including, the Initial Issue Date to, but excluding, such business day. Notwithstanding anything to the contrary in the preceding sentence, at all times before the first date on which Strategy executes any sale transaction to be settled by the issuance of STRD Stock (other than the STRD Stock initially issued on the Initial Issue Date), the Liquidation Preference per share of STRD Stock will be the Stated Amount.

Strategy will have the right, at its election, to redeem all, and not less than all, of the STRD Stock, at any time, for cash if the total number of shares of STRD Stock then outstanding is less than 25% of the total number of shares of the STRD Stock originally issued on the Initial Issue Date of the STRD Stock and in any future offering of the

STRD Stock, taken together (such a redemption, an “ Optional Redemption”). Strategy will also have the right, at its election, to redeem all, and not less than all, of the STRD Stock, at any time, for cash if a “ Tax Event” (as defined in the Certificate of Designations) occurs (such a redemption, a “ Tax Redemption”). The redemption price for any STRD Stock to be redeemed pursuant to an Optional Redemption or a Tax Redemption will be a cash amount equal to (i) the Liquidation Preference of such share as of the business day before Strategy sends the related redemption notice, plus (ii) declared and unpaid Regular Dividends, if any, on such share that will have accrued to, but excluding, the redemption date.

If a “ Fundamental Change” (as defined in the Certificate of Designations) occurs, then holders of the STRD Stock will have the right to require Strategy to repurchase some or all of their shares of STRD Stock at a cash repurchase price equal to (i) the Stated Amount plus (ii) declared and unpaid Regular Dividends, if any, on such share that will have accrued to, but excluding, the Fundamental Change repurchase date for such Fundamental Change.

The STRD Stock will have voting rights with respect to certain amendments to Strategy’s certificate of incorporation or the Certificate of Designations, certain business combination transactions and certain other matters.

The above description of the Certificate of Designations and the terms of the STRD Stock is a summary and