Company: MSTR
Filing Date: 2025-03-10
Form Type: 424B5
Source: 0001193125-25-050408
Chunk: 67

Company: Strategy Inc
Filing Date: 2025-03-10
Form: 424B5
Chunk 67
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 in lieu of delivering any fractional share of class A common stock otherwise due upon conversion, we will, to the extent we are legally able to do so, pay cash based on the last reported sale price per share of our class A common stock on the conversion date for such conversion (or, if such conversion date is not a trading day, the immediately preceding trading day). In the event that we cannot pay cash in lieu of a fractional share, we will, to the extent authorized, unissued and unreserved shares of our class A common stock are available, instead round up to the nearest whole share for each holder and we will not have any obligation to pay such amount in cash. We refer to the consideration due upon conversion of any perpetual strike preferred stock as the “conversion consideration.” Delivery of the Conversion Consideration We will (subject to the depositary procedures, if such perpetual strike preferred stock is represented by a global certificate) pay or deliver, as applicable, the conversion consideration due upon conversion of any perpetual strike preferred stock on or before the second business day immediately after the conversion date for such conversion. Delivery of Treasury Shares Each share of class A common stock delivered upon conversion of the perpetual strike preferred stock will be a newly issued or treasury share. To the extent we deliver shares of class A common stock held in our treasury in settlement of any obligation under the certificate of designations to deliver shares of class A common stock, each reference in this “Description of Perpetual Strike Preferred Stock” section to the issuance of shares of class A common stock in connection therewith will be deemed to include such delivery. When Converting Preferred Stockholders Become Stockholders of Record of the Shares of Class A Common Stock Issuable Upon Conversion The person in whose name any share of our class A common stock is issuable upon conversion of any perpetual strike preferred stock will be deemed to become the holder of record of that share as of the close of business on the conversion date for such conversion. S-47

Taxes Upon Issuance of Class A Common Stock We will pay any documentary, stamp or similar issue or transfer tax or duty due on the issue of any shares of our class A common stock upon conversion of, or as payment for all or any portion of any declared regular dividends on, the perpetual strike preferred stock of any preferred stockholder. However, if any tax or duty is due because such preferred stockholder requests those shares to be registered in a name other than such preferred stockholder’s name, then such preferred stockholder must pay such tax or duty.