Company: MSTR
Filing Date: 2025-05-22
Form Type: 424B5
Source: 0001193125-25-124554
Chunk: 33

Company: Strategy Inc
Filing Date: 2025-05-22
Form: 424B5
Chunk 33
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 date for, and transfer restrictions applicable to, such additional perpetual strife preferred stock). Furthermore, without the consent of any holder, we may resell any perpetual strife preferred stock that we or any of
our “subsidiaries” (as defined below under the caption “—Definitions”) has purchased or otherwise acquired. However, such additional or resold perpetual strife preferred stock must be identified by a separate CUSIP number or
by no CUSIP number if they are not fungible, for purposes of federal securities laws or, if applicable, the “depositary procedures” (as defined below under the caption “—Definitions”), with other perpetual strife preferred
stock that is then outstanding. In addition, without the consent of any holder, we may create and issue, or increase the authorized or issued number of, any other class or series of stock, provided that such class or series of stock is

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not “dividend senior stock” or “liquidation senior stock” (as those terms are defined below under the caption “—Definitions”). Subject to applicable law, we or our subsidiaries may directly or indirectly repurchase perpetual strife preferred stock in the open market or otherwise, whether through private or public tender or exchange offers, cash-settled swaps or other cash-settled derivatives. Transfer Agent, Registrar and Paying Agent U.S. Bank Trust Company, National Association is the initial transfer agent, registrar and paying agent for the perpetual strife preferred stock. However, without prior notice to the preferred stockholders, we may change the transfer agent, registrar and paying agent and we or any of our subsidiaries may choose to act in that capacity as well (except that the transfer agent, registrar and paying agent with respect to any global certificate must at all times be a person that is eligible to act in that capacity under the depositary procedures). Registered Holders Absent manifest error, a person in whose name any share of perpetual strife preferred stock is registered on the registrar’s books will be considered to be the holder of that share for all purposes, and only registered holders (which, in the case of perpetual strife preferred stock held through DTC, will initially be DTC’s nominee, Cede & Co.) will have rights under our certificate of incorporation and certificate of designations as holders of the perpetual strife preferred stock. In this section, we refer to the registered holders of the perpetual strife preferred stock as “holders” of the perpetual strife preferred stock or “preferred stockholders.” The perpetual strife preferred stock will be initially issued in global