Company: MSTR
Filing Date: 2025-01-03
Form Type: DEF 14A
Source: 0001140361-25-000231
Chunk: 38

Company: Strategy Inc
Filing Date: 2025-01-03
Form: DEF 14A
Chunk 38
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 |     |      8,235 |     |      $3,000,000 |
| Non-executive officer employees as a group (1,541 persons as of December 20, 2024)(1) |     |                 0 |     |            0 |     |          0 |     |               0 |

| (1) | The Company may from time-to-time grant awards to these individuals in the future under the Amended Plan, but the granting of awards under the Amended Plan to such individuals is discretionary, and we cannot now determine the number or type of awards to be granted in the future. |

| (2) | Represents the Initial Director Grants to Brian Brooks, Jane Dietze and Gregg Winiarski pursuant to the Amended Plan. Excludes (i) annual awards to non-employee directors pursuant to the Amended Plan, as no changes are being made to the criteria used to determine such annual awards as set forth in the Current Plan, (ii) awards that the non-employee directors will be entitled to receive for subsequent years following 2024 and (iii) any discretionary awards that any non-employee director may be awarded under the Amended Plan. The closing sale price of the Class A Stock on The Nasdaq Global Select Market as of December 20, 2024 of $364.20 per share was used to calculate the number of RSUs and the number of options, and the exercise price of the stock options, granted to the newly appointed non-employee directors. |

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TABLE OF CONTENTS

Information Regarding Overhang and Dilution While the 2024 Plan Amendment does not include an increase in the number of shares available for issuance under the Current Plan, in approving the 2024 Plan Amendment and analyzing the impact of utilizing equity as a means of compensation on our stockholders, we considered both our “overhang” and our “burn rate.” Overhang is a measure of potential dilution. As used here, and as considered by the Board, “equity overhang” means the total number of shares of Class A Stock subject to outstanding stock-settled stock options, RSUs, and PSUs, plus the total number of shares of Class A Stock available for grant under the Current Plan, as a percentage of (i) the total number of shares of Class A Stock subject to outstanding stock-settled stock options, RSUs, and PSUs plus the total number of shares of Class A Stock available for grant under the Current