Company: MSTR
Filing Date: 2025-05-22
Form Type: 424B5
Source: 0001193125-25-124554
Chunk: 34

Company: Strategy Inc
Filing Date: 2025-05-22
Form: 424B5
Chunk 34
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 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 perpetual strife preferred 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 perpetual strife preferred stock represented by global certificates. Transfers and Exchanges A preferred stockholder may transfer or exchange its perpetual strife preferred 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 perpetual strife preferred stock that is subject to redemption or required repurchase. Listing The perpetual strife preferred stock is listed on The Nasdaq Global Select Market under the symbol “STRF.” Payments on the Perpetual Strife Preferred Stock We will pay (or cause our paying agent to pay) all declared cash regular dividends or other cash amounts due on any perpetual strife preferred 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 perpetual strife preferred stock represented by a physical certificate as follows:

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

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| amount as we may choose in our sole and absolute discretion) and the holder of such perpetual strife preferred 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 register for the perpetual 
 strife preferred stock.                                                                                       |

To be timely, a written request referred to in the first bullet