Company: MSTR
Filing Date: 2025-07-07
Form Type: 424B5
Source: 0001193125-25-155880
Chunk: 47

Company: Strategy Inc
Filing Date: 2025-07-07
Form: 424B5
Chunk 47
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 change repurchase price will not include payment of any undeclared regular dividends. However, if the fundamental change repurchase date is after a regular record date for a declared regular dividend
on the STRD Stock and on or before the next regular dividend payment date, then (a) the holder of such share at the close of business on such regular record date will be entitled, notwithstanding such repurchase, to receive, on or, at our
election, before such regular dividend payment date, such declared regular dividend on such share; and (b) the amount referred to in clause (ii) of the preceding sentence will instead be deemed to be zero.

Notice of Fundamental Change

On or before the
20th calendar day after the effective date of a fundamental change, we will send to each preferred stockholder notice of such fundamental change containing certain information set forth in the certificate of designations, including the fundamental
change repurchase date, the fundamental change repurchase price and the procedures preferred stockholders must follow to tender their STRD Stock for repurchase.

Procedures to Exercise the Fundamental Change Repurchase Right

To exercise its fundamental change repurchase right with respect to any STRD Stock, the holder thereof must deliver a notice (a “fundamental change
repurchase notice”) to the paying agent before the close of business on the business day immediately before the related fundamental change repurchase date (or such later time as may be required by law).

The fundamental change repurchase notice must contain certain information set forth in the certificate of designations, including the certificate number of
any physical certificate representing any STRD Stock to be repurchased, or must otherwise comply with the depositary procedures in the case of a global certificate.

A holder of STRD Stock that has delivered a fundamental change repurchase notice with respect to any STRD Stock may withdraw that notice by delivering a
withdrawal notice to the paying agent at any time before the close of business on the business day immediately before the fundamental change repurchase date. The withdrawal notice must contain certain information set forth in the certificate of
designations, including the certificate number of any physical certificate representing any STRD Stock with respect to which the withdrawal notice is being delivered, or must otherwise comply with the depositary procedures in the case of a global
certificate.

STRD Stock to be repurchased must be delivered to the paying agent (in the case of STRD Stock represented by any physical certificate) or
the depositary procedures must be complied with (in the case of STRD Stock represented by any