Company: MSTR
Filing Date: 2025-03-10
Form Type: 424B5
Source: 0001193125-25-050408
Chunk: 50

Company: Strategy Inc
Filing Date: 2025-03-10
Form: 424B5
Chunk 50
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 form a part of the cumulative dividends that may be deemed to accumulate on the shares of perpetual strike preferred stock. For the avoidance of doubt, to the extent we fail to pay
any portion of such declared regular dividend in cash or shares of our class A common stock due to the limitations described in this paragraph, such portion of such regular dividend will constitute unpaid regular dividends and will accumulate
compounded dividends as described under the fourth paragraph under “—Regular Dividends—Generally.”

When Preferred Stockholders Become Stockholders of Record of Shares of Class A Common Stock Issued as Payment for a Declared Regular Dividend

If we have duly
elected to pay all or any portion of a declared regular dividend on any share of perpetual strike preferred stock in shares of class A common stock, then such shares of class A common stock, when issued, will be registered in the name of the holder
of such share of perpetual strike preferred stock as of the close of business on the related regular record date, and such holder will be deemed to become the holder of record of such shares of class A common stock as of the close of business on the
third VWAP trading day preceding the related regular dividend payment date.

Securities Laws Matters

If, in our reasonable judgment, the issuance of shares of class A common stock as payment for any declared regular dividend on the perpetual strike preferred
stock, or the resale of those shares by preferred stockholders or

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beneficial owners that are not, and have not at any time during the preceding three months been, an affiliate of ours, requires registration under the Securities Act, then we will use our commercially reasonable efforts to:

| • |     | file and cause there to become effective under the Securities Act a registration statement covering such issuance                                                  
 or covering such resales from time to time, pursuant to Rule 415 under the Securities Act, by such preferred stockholders or beneficial owners, as applicable; and |

| • |     | in the case of a resale registration statement, keep such registration statement effective under the Securities                                                                                                                                          
 Act, and provide a prospectus that may be used in connection therewith, until all such shares are resold pursuant to such registration statement or are, or would be, eligible for resale without restriction, pursuant to Rule 144 under the Securities 
 Act (or any successor rule), by preferred stockholders that are not, and have not at any time during the preceding three months been, an affiliate of ours.                                                                                              |

In addition, we will use our