Company: MSTR
Filing Date: 2025-07-07
Form Type: 424B5
Source: 0001193125-25-155880
Chunk: 57

Company: Strategy Inc
Filing Date: 2025-07-07
Form: 424B5
Chunk 57
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, regardless of the time or manner in which that amendment, clarification or change is introduced or made known; or                                                            |

| • |     | a threatened challenge asserted in writing in connection with a tax audit of us or any of our subsidiaries, or a                                                                                
 publicly known threatened challenge asserted in writing against any other taxpayer that has raised capital through the issuance of securities that are substantially similar to the STRD Stock, |

which amendment, clarification or change is effective or the administrative action is taken or judicial decision, interpretation or pronouncement is issued or threatened challenge is asserted or becomes publicly known after June 5, 2025, there is more than an insubstantial risk that any of the outstanding STRD Stock is treated as “fast-paystock” within the meaning of Treasury Regulation Section 1.7701(l)-3(b)(2)(or becomes subject to substantially similar successor provision). “Trading day” means, with respect to the STRD Stock, any day on which (i) trading in the STRD Stock generally occurs on the principal U.S. national or regional securities exchange on which the STRD Stock is then listed or, if the STRD Stock is not then listed on a U.S. national or regional securities exchange, on the principal other market on which the STRD Stock is then traded; and (ii) there is no market disruption event. If the STRD Stock is not so listed or traded, then “trading day” with respect to the STRD Stock means a business day. “Voting parity stock” means, with respect to any matter as to which preferred stockholders are entitled to vote pursuant to the provisions described above under the caption “—Voting Rights—Voting and Consent Rights with Respect to Specified Matters,” each class or series of outstanding dividend parity stock or liquidation parity stock, if any, upon which similar voting rights are conferred and are exercisable with respect to such matter. For the avoidance of doubt, voting parity stock will not include any securities of our subsidiaries. “Wholly owned subsidiary” of a person means any subsidiary of such person all of the outstanding capital stock or other ownership interests of which (other than directors’ qualifying shares) are owned by such person or one or more wholly owned subsidiaries of such person. Book Entry, Settlement and Clearance Global Certificates The STRD Stock will be initially issued in the form of one or more certificates (the “global certificates”) registered in the name of Cede & Co., as nominee of DTC, and will be deposited with