Company: MSTR
Filing Date: 2025-03-10
Form Type: 424B5
Source: 0001193125-25-050408
Chunk: 63

Company: Strategy Inc
Filing Date: 2025-03-10
Form: 424B5
Chunk 63
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 than $182,500,000 (which is equal to 25% of the aggregate liquidation
preference of the perpetual strike preferred stock issued on February 5, 2025). We refer to a redemption pursuant to the provision described in this paragraph as an “optional redemption.”

Tax Redemption

Subject to the
terms of the certificate of designations, we have the right, at our election, to redeem all, and not less than all, of the perpetual strike preferred stock, at any time, for cash if a “tax event” (as defined below under the caption
“—Definitions”) occurs. We refer to a redemption pursuant to this provision described in this paragraph as a “tax redemption.”

S-44

Redemption Date

The redemption date will be a business day of our choosing that is no more than 60, nor less than15, calendar days after the date we send the related
redemption notice, as described below.

Redemption Price

The redemption price for a share of perpetual strike preferred stock called for optional redemption will be an amount equal to (i) the liquidation
preference of such share, plus (ii) accumulated and unpaid regular dividends on such share to, but excluding, the redemption date. However, if the redemption date is after a regular record date for a declared regular dividend on the perpetual
strike preferred 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 redemption, 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 the excess, if any, of (x) the accumulated and
unpaid regular dividends on such share to, but excluding, such redemption date over (y) the amount of such declared regular dividend on such share.

The redemption price for a share of perpetual strike preferred stock called for tax redemption will be an amount equal to (i) the greater of (1) the
liquidation preference of such share and (2) the average of the last reported sale prices per share of perpetual strike preferred stock for the five consecutive trading days ending on, and including, the trading day immediately before the date
on which we send the related redemption notice, plus (ii) accumulated and unpaid regular dividends on such share to, but excluding, the redemption date.