Company: MSTR
Filing Date: 2025-05-22
Form Type: 424B5
Source: 0001193125-25-124554
Chunk: 57

Company: Strategy Inc
Filing Date: 2025-05-22
Form: 424B5
Chunk 57
---
 Upon Regular Dividend Non-Payment Events—Generally.”

“Dividend junior
stock” means any class or series of our stock whose terms do not expressly provide that such class or series will rank senior to, or equally with, the perpetual strife preferred stock with respect to the payment of dividends (without regard to
whether or not dividends accumulate cumulatively). Dividend junior stock includes our class A common stock, our class B common stock and our perpetual strike preferred stock. For the avoidance of doubt, dividend junior stock will not include any
securities of our subsidiaries.

“Dividend parity stock” means any class or series of our stock (other than the perpetual strife preferred
stock) whose terms expressly provide that such class or series will rank equally with the perpetual strife preferred stock with respect to the payment of dividends (without regard to whether or not dividends accumulate cumulatively). For the
avoidance of doubt, dividend parity stock will not include any securities of our subsidiaries.

“Dividend senior stock” means any class or
series of our stock whose terms expressly provide that such class or series will rank senior to the perpetual strife preferred stock with respect to the payment of dividends (without regard to whether or not dividends accumulate cumulatively). For
the avoidance of doubt, dividend senior stock will not include any securities of our subsidiaries.

“Exchange Act” means the U.S. Securities
Exchange Act of 1934, as amended.

“Fundamental change” means any of the following events:

(i) either (a) a “person” or “group” (within the meaning of Section 13(d)(3) of the Exchange Act) (other than
(w) us; (x) our “wholly owned subsidiaries” (as defined below); (y) any employee benefit plans of ours or our wholly owned subsidiaries; or (z) any “permitted party” (as defined below)), files any report with the
SEC indicating that such person or group has become the direct or indirect “beneficial owner” (as defined below) of shares of our common equity representing more than 50% of the voting power of all of our common equity; or (b) a
“person” or “group” (within the meaning of Section 13(d)(3) of the Exchange Act) (other than (w) us; (x) our “wholly owned subsidiaries” (as defined below); or (y) any employee benefit plans of ours
or our wholly owned subsidiaries), files any report with