Company: MSTR
Filing Date: 2025-07-07
Form Type: 424B5
Source: 0001193125-25-155880
Chunk: 104

Company: Strategy Inc
Filing Date: 2025-07-07
Form: 424B5
Chunk 104
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 described in the prospectus supplement relating to that series of preferred stock. A series of our preferred stock could, depending on the terms of such series, impede the completion of a merger, tender offer or other takeover attempt. Our board of directors will make any determination to issue preferred shares based upon its judgment as to the best interests of our stockholders. Our directors, in so acting, could issue preferred stock having terms that could discourage an acquisition attempt through which an acquirer -23-

may be able to change the composition of our board of directors, including a tender offer or other transaction that some, or a majority, of our stockholders might believe to be in their best interests or in which stockholders might receive a premium for their stock over the then-current market price of the stock. The preferred stock has the terms described below unless otherwise provided in the prospectus supplement relating to a particular series of preferred stock. You should read the prospectus supplement relating to the particular series of preferred stock being offered for specific terms, including:

| • |     | the designation and stated value per share of the preferred stock and the number of shares offered; |

| • |     | the amount of liquidation preference per share; |

| • |     | the price at which the preferred stock will be issued; |

| • |     | the dividend rate, or method of calculation of dividends, the dates on which dividends will be payable, whether               
 dividends will be cumulative or noncumulative and, if cumulative, the dates from which dividends will commence to accumulate; |

| • |     | any redemption or sinking fund provisions; |

| • |     | if other than the currency of the United States, the currency or currencies including composite currencies in 
 which the preferred stock is denominated and/or in which payments will or may be payable;                     |

| • |     | any conversion provisions; |

| • |     | whether we have elected to offer depositary shares as described under “Description of Depositary 
 Shares;” and                                                                                     |

| • |     | any other rights, preferences, privileges, limitations and restrictions on the preferred stock. |

The preferred stock will, when issued, be fully paid and non-assessable.Unless otherwise specified in the prospectus supplement, each series of preferred stock will rank equally as to dividends and liquidation rights in all respects with each other series of preferred stock. The rights of holders of shares of each series of preferred stock will be subordinate to those of our general creditors. As described under “Description