Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001193125-25-263759
Chunk: 25

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 25
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 we refer to the registered holders of the STRD Stock as “holders” of the STRD Stock or “preferred stockholders.” The STRD Stock will be initially issued in global form, represented by one or more “global certificates” registered in the name of Cede & Co., as nominee of DTC, and DTC will act as the initial depositary for the STRD Stock. In limited circumstances, global certificates will be exchanged for “physical certificates” registered in the name of the applicable preferred stockholders. See “—Book Entry, Settlement and Clearance” for a definition of these terms and a description of certain DTC procedures that will be applicable to STRD Stock represented by global certificates. Transfers and Exchanges A preferred stockholder may transfer or exchange its STRD Stock at the office of the registrar in accordance with the certificate of designations. We, the transfer agent and the registrar may require the preferred stockholder to, among other things, deliver appropriate endorsements or transfer instruments as we or they may reasonably require. In addition, subject to the terms of the certificate of designations, we, the transfer agent and the registrar may refuse to register the transfer or exchange of any share of STRD Stock that is subject to redemption or required repurchase. Listing The STRD Stock is listed on The Nasdaq Global Select Market under the symbol “STRD.” Payments on the STRD Stock We will pay (or cause our paying agent to pay) all declared cash regular dividends or other cash amounts due on any STRD Stock represented by a global certificate by wire transfer of immediately available funds. We will pay (or cause our paying agent to pay) all declared cash regular dividends or other cash amounts due on any STRD Stock represented by a physical certificate as follows:

| • |     | if the aggregate “stated amount” (as defined below under the caption                                                                
 “—Definitions”) of the STRD Stock represented by such physical certificate is at least $5.0 million (or such lower amount as we may |

SA-15

| choose in our sole and absolute discretion) and the holder of such STRD Stock entitled to such cash regular dividend or amount has delivered to the paying agent, no later than the time set forth 
 below, a written request to receive payment by wire transfer to an account of such holder within the United States, by wire transfer of immediately available funds to such account; and           |

| • |     | in all other cases, by check mailed to the address of such holder set forth in the