Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001193125-25-263746
Chunk: 8

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 8
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 we have the right, at our election, to redeem all, and not less than all, of the STRF Stock, at any time, for cash if a “tax event” (as defined in this STRF Stock Annex) occurs. We     
 refer to a redemption pursuant to this provision as a “tax redemption.” The redemption price for any STRF Stock to be redeemed pursuant to a tax redemption will be a cash amount equal to the liquidation preference of the STRF Stock as of 
 the business day before the date we send the related redemption notice, plus accumulated and unpaid regular dividends to, but excluding, the redemption date.                                                                                 |

| See “Description of STRF Stock—Redemption at Our Option—Tax Redemption.” |

| Repurchase at the Option of the Preferred Stockholders After a Fundamental Change | If a “fundamental change” (as defined in this STRF Stock Annex) occurs, then, except as described in this STRF Stock Annex, preferred stockholders will have the right (which we refer to as the “fundamental change repurchase                   
 right”) to require us to repurchase some or all of their shares of STRF Stock at a cash repurchase price equal to the stated amount of the STRF Stock to be repurchased, plus accumulated and unpaid regular dividends, if any, to, but excluding 
 the fundamental change repurchase date.                                                                                                                                                                                                           |

| See “Description of STRF Stock—Fundamental Change Permits Preferred Stockholders to Require Us to Repurchase STRF Stock.” |

| Voting Rights | The STRF Stock has no voting rights except as described in this STRF Stock Annex or as provided in our certificate of incorporation or required by the Delaware General Corporation Law. |

| If (in each case, subject to the provisions described in this STRF Stock Annex) less than the full amount of accumulated and                                                                                                                             
 unpaid regular dividends on the outstanding STRF Stock have been declared and paid by the following regular dividend payment date in respect of each of (i) four or more consecutive regular dividend payment dates and (ii) eight or more               
 consecutive regular dividend payment dates then, in each case, the authorized number of our directors will automatically increase by one (or we will vacate the office of one director) and the holders of the STRF Stock, voting together as a single   
 class with the holders of each class or series of “voting parity stock” (as defined in this STRF Stock Annex), if any, with similar voting rights regarding the election of directors upon a