Company: MSTR
Filing Date: 2025-07-07
Form Type: 424B5
Source: 0001193125-25-155880
Chunk: 13

Company: Strategy Inc
Filing Date: 2025-07-07
Form: 424B5
Chunk 13
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 our election, to redeem all, and not less than all, of the STRD Stock, at any time, for cash if the total number of shares of all STRD Stock then outstanding is less than 25% of the total number of shares of STRD Stock      
 originally issued in the initial offering for STRD Stock and in any future offering taken together. We refer to a redemption pursuant to this provision as an “optional redemption.” The redemption price for any STRD Stock to be redeemed           
 pursuant to an optional redemption will be a cash amount equal to the liquidation preference of the STRD Stock as of the business day before the date we send the related redemption notice, plus declared and unpaid regular dividends, if any, that 
 will have accrued to, but excluding, the redemption date. For the avoidance of doubt, the redemption price will not include payment of any undeclared regular dividends.                                                                              |

| See “Description of STRD Stock—Redemption at Our Option—Optional Redemption.” |

| Redemption Upon Tax Event | In addition to the redemption right described above, we have the right, at our election, to redeem all, and not less than all, of the STRD |

S-10

| Stock, at any time, for cash if a “tax event” (as defined in this prospectus supplement) occurs. We refer to a redemption pursuant to this provision as a “tax redemption.” The                                                                         
 redemption price for any STRD Stock to be redeemed pursuant to a tax redemption will be a cash amount equal to the liquidation preference of the STRD Stock as of the business day before the date we send the related redemption notice, plus declared 
 and unpaid regular dividends, if any, that will have accrued to, but excluding, the redemption date. For the avoidance of doubt, the redemption price will not include payment of any undeclared regular dividends.                                     |

| See “Description of STRD Stock—Redemption at Our Option—Tax Redemption.” |

| Repurchase at the Option of the Preferred Stockholders After a Fundamental Change | If a “fundamental change” (as defined in this prospectus supplement) occurs, then, except as described in this prospectus supplement, preferred stockholders will have the right (which we refer to as the “fundamental change                    
 repurchase right”) to require us to repurchase some or all of their shares of STRD Stock at a cash repurchase price equal to the stated amount of the STRD Stock to be repurchased, plus declared and unpaid regular dividends, if