Company: MSTR
Filing Date: 2025-03-10
Form Type: 424B5
Source: 0001193125-25-050408
Chunk: 93

Company: Strategy Inc
Filing Date: 2025-03-10
Form: 424B5
Chunk 93
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 dividend on the perpetual strike preferred stock will be deemed to have been paid if such
dividend is declared and cash that is sufficient to pay such dividend is set aside for the benefit of the preferred stockholders entitled thereto. For the avoidance of doubt, the regular dividend non-payment
events set forth in clauses (i) and (ii) above are separate regular dividend non-payment events, each providing for a separate right to appoint a preferred stock director pursuant to the provisions
described above under the caption “—Voting Rights—Right to Designate up to Two Preferred Stock Directors Upon Regular Dividend Non-Payment Events.”

“Regular dividend payment date” means each March 31, June 30, September 30 and December 31 of each year, beginning on
March 31, 2025.

“Regular dividend period” means each period from, and including, a regular dividend payment date (or, in the case of the
first regular dividend period, from, and including, February 5, 2025) to, but excluding, the next regular dividend payment date.

S-64

“Regular dividend stock price” means, with respect to any declared regular dividend on the perpetual strike preferred stock, 95% of the daily VWAP per share of class A common stock on the third VWAP trading day preceding the regular dividend payment date for such regular dividend. “Regular dividend rate” means 8.00% per annum. “Regular dividends” has the meaning set forth above under the caption “—Regular Dividends—Generally.” “Regular record date” has the following meaning: (i) March 15, in the case of a regular dividend payment date occurring on March 31; (ii) June 15, in the case of a regular dividend payment date occurring on June 30; (iii) September 15, in the case of a regular dividend payment date occurring on September 30; and (iv) December 15, in the case of a regular dividend payment date occurring on December 31. “Reference property” has the meaning set forth above under the caption “—Conversion Rights—Effect of Class A Common Stock Change Event—Generally.” “Reference property unit” has the meaning set forth above under the caption “—Conversion Rights—Effect of Class A Common Stock Change Event—Generally.” “Spin-off”has the meaning set forth above in paragraph (3)(b) under the caption “—Conversion Rights—Conversion Rate Adjustments—Generally.” “Spin-offvaluation period”