Company: MSTR
Filing Date: 2025-05-22
Form Type: 424B5
Source: 0001193125-25-124554
Chunk: 14

Company: Strategy Inc
Filing Date: 2025-05-22
Form: 424B5
Chunk 14
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 prospectus supplement) occurs, then, except as described in this prospectus supplement, preferred stockholders will have the right (which we refer to as the “fundamental change                       
 repurchase right”) to require us to repurchase some or all of their shares of perpetual strife preferred stock at a cash repurchase price equal to the stated amount of the perpetual strife preferred stock to be repurchased, plus accumulated and 
 unpaid regular dividends, if any, to, but excluding the fundamental change repurchase date.                                                                                                                                                          |

| See “Description of Perpetual Strife Preferred Stock—Fundamental Change Permits Preferred Stockholders to Require Us to Repurchase Perpetual Strife Preferred Stock.” |

| Voting Rights | The perpetual strife preferred stock has no voting rights except as described in this prospectus supplement or as provided in our certificate of incorporation or required by the Delaware General Corporation Law. |

| If (in each case, subject to the provisions described in this prospectus supplement) less than the full amount of accumulated 
 and unpaid regular dividends on the outstanding perpetual strife preferred stock                                              |

S-12

| have been declared and paid by the following regular dividend payment date in respect of each of (i) four or more consecutive regular dividend payment dates and (ii) eight or more                                                                       
 consecutive regular dividend payment dates then, in each case, the authorized number of our directors will automatically increase by one (or we will vacate the office of one director) and the holders of the perpetual strife preferred stock, voting   
 together as a single class with the holders of each class or series of “voting parity stock” (as defined in this prospectus supplement), if any, with similar voting rights regarding the election of directors upon a failure to pay                     
 dividends, which similar voting rights are then exercisable, will have the right to elect one director (which we refer to as a “preferred stock director”) to fill such directorship at our next annual meeting of stockholders (or, if                   
 earlier, at a special meeting of our stockholders called for such purpose). If, thereafter, all accumulated and unpaid dividends on the outstanding perpetual strife preferred stock have been paid in full, then the right of the holders of the         
 perpetual strife preferred stock to elect any preferred stock directors will terminate. Upon the termination of such right with respect to the perpetual strife preferred stock and all other outstanding voting parity stock, if any, the term of office 
 of each person then serving as a preferred stock director will immediately and automatically terminate (and, if the authorized