Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001193125-25-263719
Chunk: 10

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 10
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 STRC Stock then outstanding is less than 
 25% of the total number of shares of STRC Stock issued in the initial offering of STRC Stock and in any future offering taken together. We refer to a redemption pursuant to this provision as a “clean-up                                            
 redemption.” The redemption price for any share of STRC Stock to be redeemed pursuant to a clean-up redemption will be a cash amount equal to the liquidation preference of such share as of the business                                             
 day before the date we provide the related redemption notice, plus accumulated and unpaid regular dividends on such share to, and including, the redemption date.                                                                                     |

SA-4

| See “Description of STRC Stock—Redemption at Our Option—Clean-Up Redemption.” |

| Redemption Upon Tax Event | In addition to the redemption rights described above, we have the right, at our election, to redeem all, and not less than all, of the STRC Stock, at any time, for cash if a “tax event” (as defined in this STRC Stock Annex) occurs.   
 We refer to a redemption pursuant to this provision as a “tax redemption.” The redemption price for any share of STRC Stock to be redeemed pursuant to a tax redemption will be a cash amount equal to the liquidation preference of such 
 share as of the business day before the date we provide the related redemption notice, plus accumulated and unpaid regular dividends on such share to, and including, the redemption date.                                                |

| See “Description of STRC Stock—Redemption at Our Option—Tax Redemption.” |

| Repurchase at the Option of the Preferred Stockholders After a Fundamental Change | If a “fundamental change” (as defined in this STRC Stock Annex) occurs, then, except as described in this STRC Stock Annex, preferred stockholders 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 STRC Stock at a cash repurchase price equal to the stated amount of the STRC Stock to be repurchased, plus accumulated and unpaid regular dividends, if any, thereon to, and 
 including, the fundamental change repurchase date.                                                                                                                                                                                              |

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

| Voting Rights | The STRC Stock has no voting rights except as described in this STRC Stock Annex or as provided in our certificate of incorporation or required by