Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001193125-25-263900
Chunk: 1

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 1
---
 a prospectus supplement dated March 10, 2025.
Prior to the date of this STRK Stock Annex, we have previously sold 6,618,518 shares of STRK Stock under such prior prospectus supplement for gross proceeds of $659,367,643.36, with shares of STRK Stock with an aggregate offering price of up to
$20,340,632,356.64 remaining unsold under such offering. As of the date of this STRK Stock Annex, we have terminated such prior offering of STRK Stock and the sales agreement relating to such prior offering and such unsold shares of STRK Stock will
no longer be offered and sold under the prior prospectus supplement. Instead, the remaining $20,340,632,356.64 shares of our STRK Stock will be offered and sold under this STRK Stock Annex, the accompanying base prospectus supplement dated November
4, 2025 and the accompanying prospectus.

Our STRK Stock is listed on The Nasdaq Global Select Market under the trading symbol “STRK.” On
November 3, 2025, the last reported sale price of our STRK Stock as reported on The Nasdaq Global Select Market was $88.60 per share, and the last reported sale price of our class A common stock as reported on The Nasdaq Global Select Market
was $264.67 per share.

STRK STOCK

The up to
$20,340,632,356.64 of shares of STRK Stock that we may offer and sell under this STRK Stock Annex and the accompanying base prospectus supplement and prospectus constitutes a further issuance of the 13,918,518 shares of STRK Stock outstanding
as of the date of this STRK Stock Annex. Other than the issue date, the first regular dividend record date and the first regular dividend payment date, the STRK Stock that we may offer and sell under this STRK Stock Annex and the accompanying base
prospectus supplement and prospectus will have terms identical to, will have the same CUSIP number as, and will vote together with, the STRK Stock outstanding as of the date of this STRK Stock Annex immediately upon issuance.

The liquidation preference of the STRK Stock is $100 as of the date of this STRK Stock Annex. On
July 7, 2025, we filed a certificate of amendment (the “STRK Amendment”) with the Secretary of State of the State of Delaware to the STRK Stock certificate of