Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001193125-25-263900
Chunk: 14

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 14
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ations | For a description of the material U.S. federal income tax consequences of purchasing, owning, converting and disposing of the STRK Stock and owning and disposing of the shares of our class A common stock received in respect of the STRK Stock, 
 see “Material United States Federal Income Tax Considerations.” In particular, holders should review the discussion under “Material United States Federal Income Tax                                                                               
 Considerations—Fast-Pay Stock Regulations” regarding the potentially adverse consequences that would apply if any shares of STRK Stock were treated as                                                                                             
 “fast-pay” stock.                                                                                                                                                                                                                                  |

| Book-Entry Form | We will initially issue the STRK Stock in the form of one or more global certificates registered in the name of Cede & Co., as nominee of The Depository Trust Company (which we refer to as “DTC”), which we will deposit with                       
 the transfer agent as custodian for DTC. Beneficial interests in global certificates will be shown on, and transfers of STRK Stock represented by global certificates will be effected only through, the records maintained by DTC. Except in limited 
 circumstances, we will not issue physical certificates representing any STRK Stock. See “Description of STRK Stock—Book Entry, Settlement and Clearance.”                                                                                             |

SA-7

| Shares Outstanding After This Offering | Immediately after the consummation of this offering, up to 243,496,761 shares of STRK Stock, assuming sales of $20,340,632,356.64 shares of our STRK Stock in this offering at a price of $88.60 per share, which was the last reported sale           
 price of our STRK Stock on The Nasdaq Global Select Market on November 3, 2025, 12,470,812 shares of STRF Stock, 28,011,111 shares of STRC Stock, 12,539,683 shares of STRD Stock, 19,640,250 shares of class B common stock, and 267,713,485          
 shares of our class A common stock will be outstanding. The actual number of STRK Stock issued in this offering will vary depending on the actual sales price in this offering. For purposes of this calculation, we have used the number of shares of 
 STRK Stock, STRF Stock, STRC Stock, STRD Stock, class B common stock, and class A common stock that were outstanding as of October 31, 2025.                                                                                                           |

| • |     | 1,391,851