Company: MSTR
Filing Date: 2025-05-22
Form Type: 424B5
Source: 0001193125-25-124554
Chunk: 116

Company: Strategy Inc
Filing Date: 2025-05-22
Form: 424B5
Chunk 116
---
, in each case, according to their respective
number of shares. For such purposes, our consolidation or merger with or into any other corporation, trust or entity, or the sale, lease or conveyance of all or substantially all of our property or assets will not be deemed to constitute a
liquidation, dissolution or winding up of our affairs.

Redemption. If so provided in the applicable prospectus supplement, the
preferred stock will be subject to mandatory redemption or redemption at our option, as a whole or in part, in each case upon the terms, at the times and at the redemption prices set forth in such prospectus supplement.

-25-

The prospectus supplement relating to a series of preferred stock that is subject to mandatory redemption will specify the number of shares of preferred stock that shall be redeemed by us in each year commencing after a date to be specified, at a redemption price per share to be specified, together with an amount equal to all accrued and unpaid dividends thereon to the date of redemption. Unless the shares have a cumulative dividend, such accrued dividends will not include any accumulation in respect of unpaid dividends for prior dividend periods. We may pay the redemption price in cash or other property, as specified in the applicable prospectus supplement. If the redemption price for preferred stock of any series is payable only from the net proceeds of the issuance of shares of our capital stock, the terms of such preferred stock may provide that, if no such shares of our capital stock shall have been issued or to the extent the net proceeds from any issuance are insufficient to pay in full the aggregate redemption price then due, such preferred stock shall automatically and mandatorily be converted into the applicable shares of our capital stock pursuant to conversion provisions specified in the applicable prospectus supplement. Notwithstanding the foregoing, we will not redeem any preferred stock of a series unless:

| • |     | if that series of preferred stock has a cumulative dividend, we have declared and paid or contemporaneously                                                       
 declare and pay or set aside funds to pay full cumulative dividends on the preferred stock for all past dividend periods and the then current dividend period; or |

| • |     | if such series of preferred stock does not have a cumulative dividend, we have declared and paid or              
 contemporaneously declare and pay or set aside funds to pay full dividends for the then current dividend period. |

In addition, we will not acquire any preferred stock of a series unless:

| • |     | if that series of preferred stock has a cumulative dividend, we have declared and paid or contempor