Company: MSTR
Filing Date: 2025-05-22
Form Type: 424B5
Source: 0001193125-25-124554
Chunk: 47

Company: Strategy Inc
Filing Date: 2025-05-22
Form: 424B5
Chunk 47
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, executed by such preferred stockholders and holders, as applicable, delivered to us at our principal executive offices (except that, in the case of any global certificate representing the perpetual strife preferred stock or such voting parity stock, such notice must instead comply with the applicable depositary procedures). However, if our next annual or special meeting of stockholders is scheduled to occur within 90 days after such right is exercised, and we are otherwise permitted to conduct such election at such next annual or special meeting, then such election will instead be included in the agenda for, and conducted at, such next annual or special meeting. Voting and Consent Rights with Respect to Specified Matters Subject to the other provisions described below, while any perpetual strife preferred stock is outstanding, each of the following events will require, and cannot be effected without, the affirmative vote or consent of preferred stockholders, and holders of each class or series of voting parity stock, if any, with similar voting or consent rights with respect to such event, representing at least a majority of the combined outstanding voting power of the perpetual strife preferred stock and such voting parity stock, if any:

| (1) | any amendment, modification or repeal of any provision of our certificate of incorporation or the certificate 
 of designations that materially adversely affects the special rights, preferences or voting powers of the     |

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| perpetual strife preferred stock (other than an amendment, modification or repeal permitted by the provisions described below under the caption “—Certain Amendments Permitted Without 
 Consent”);                                                                                                                                                                             |

| (2) | our consolidation or combination with, or merger with or into, another person, or any binding or statutory 
 share exchange or reclassification involving the perpetual strife preferred stock, in each case unless:    |

(a) the perpetual strife preferred stock either (i) remains outstanding after such consolidation, combination, merger, share exchange or reclassification; or (ii) is converted or reclassified into, or is exchanged for, or represents solely the right to receive, preference securities of the continuing, resulting or surviving person of such consolidation, combination, merger, share exchange or reclassification, or the parent thereof; (b) the perpetual strife preferred stock that remains outstanding or such preference securities, as applicable, have rights, preferences and voting powers that, taken as a whole, are not materially less favorable (as determined by our board of directors in good faith) to the holders thereof than the rights, preferences and voting powers, taken as a whole, of the perpetual strife preferred stock immediately before the consum