Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001193125-25-263900
Chunk: 7

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 7
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SA-1

| to be the greatest of (i) the stated amount of $100 per share of STRK Stock (the “stated amount”); (ii) in the case of any business day on or after July 7, 2025 with respect                                                                   
 to which we have, on such business day or any business day during the ten trading day period preceding such business day, executed any sale transaction to be settled by the issuance of STRK Stock, an amount equal to the “last reported sale 
 price” (as defined in this STRK Stock Annex) per share of STRK Stock on the trading day immediately before such business day; and (iii) the arithmetic average of the last reported sale prices per share of STRK Stock for each trading day    
 of the ten consecutive trading days immediately preceding such business day; provided that, for purposes of the definition of liquidation preference, the execution of the STRK Amendment will be treated as an execution of a sale transaction 
 settled by the issuance of STRK Stock. We intend to seek common stockholder ratification of the STRK Amendment. Until such ratification has been completed, investors should treat the STRK Amendment as being subject to ratification.         |

| Regular Dividend Payment Dates | March 31, June 30, September 30 and December 31 of each year. |

| Regular Record Dates | March 15, June 15, September 15 and December 15. For the avoidance of doubt, a holder of any shares of STRK Stock that are issued in this offering after 5:00 p.m., New York City time, on a regular record date relating to a 
 declared regular dividend on the STRK Stock will not be entitled to receive such regular dividend with respect to such shares.                                                                                                 |

| Regular Dividends | The STRK Stock accumulates cumulative dividends, which we refer to as “regular dividends,” at a rate per annum equal to 8.00% on the liquidation preference thereof (or, upon ratification of the STRK Amendment, the stated amount                     
 thereof), regardless of whether or not declared or funds are legally available for their payment. Subject to the other provisions described in this STRK Stock Annex, regular dividends are payable when, as and if declared by our board of directors, 
 out of funds legally available for their payment to the extent paid in cash, quarterly in arrears on each regular dividend payment date to the preferred stockholders of record as of the close of business