# EDGAR Filing Document

**Accession Number:** 0001050446
**File Stem:** 0001193125-26-050028
**Filing Date:** 2026-2
**Character Count:** 13995
**Document Hash:** aa03fd88152163e1c1c6cb10c86e91eb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-050028.hdr.sgml**: 20260213

**ACCESSION NUMBER**: 0001193125-26-050028

**CONFORMED SUBMISSION TYPE**: FWP

**PUBLIC DOCUMENT COUNT**: 4

**FILED AS OF DATE**: 20260213

**DATE AS OF CHANGE**: 20260213

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Strategy Inc
- **CENTRAL INDEX KEY:** 0001050446
- **STANDARD INDUSTRIAL CLASSIFICATION:** FINANCE SERVICES [6199]
- **ORGANIZATION NAME:** 09 Crypto Assets
- **EIN:** 510323571
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** FWP
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-284510
- **FILM NUMBER:** 26629315

**BUSINESS ADDRESS:**
- **STREET 1:** 1850 TOWERS CRESCENT PLAZA
- **CITY:** TYSONS CORNER
- **STATE:** VA
- **ZIP:** 22182
- **BUSINESS PHONE:** 703-848-8600

**MAIL ADDRESS:**
- **STREET 1:** 1850 TOWERS CRESCENT PLAZA
- **CITY:** TYSONS CORNER
- **STATE:** VA
- **ZIP:** 22182

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MICROSTRATEGY Inc
- **DATE OF NAME CHANGE:** 20180821

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MICROSTRATEGY INC
- **DATE OF NAME CHANGE:** 19971126
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Strategy Inc
- **CENTRAL INDEX KEY:** 0001050446
- **STANDARD INDUSTRIAL CLASSIFICATION:** FINANCE SERVICES [6199]
- **ORGANIZATION NAME:** 09 Crypto Assets
- **EIN:** 510323571
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** FWP

**BUSINESS ADDRESS:**
- **STREET 1:** 1850 TOWERS CRESCENT PLAZA
- **CITY:** TYSONS CORNER
- **STATE:** VA
- **ZIP:** 22182
- **BUSINESS PHONE:** 703-848-8600

**MAIL ADDRESS:**
- **STREET 1:** 1850 TOWERS CRESCENT PLAZA
- **CITY:** TYSONS CORNER
- **STATE:** VA
- **ZIP:** 22182

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MICROSTRATEGY Inc
- **DATE OF NAME CHANGE:** 20180821

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MICROSTRATEGY INC
- **DATE OF NAME CHANGE:** 19971126

**Filed Pursuant to Rule 433 of the Securities Act of 1933** 

**Free Writing Prospectus dated February 13, 2026** 

**Relating to the Base Prospectus Supplement dated November 4, 2025 and the five Prospectus Supplement Annexes dated November 4, 2025** 

**Registration No. 333-284510**![LOGO](g71422g0213190300806.jpg)

*Strategy Inc (the "Company") has filed with the Securities and Exchange Commission ("SEC") a registration statement (including a base prospectus) and a base prospectus supplement to the base prospectus and prospectus supplements annexes for the offerings to which this communication relates. Before you invest, you should read the base prospectus, base prospectus supplement and prospectus supplement annexes and other documents incorporated by reference or that the Company has filed with the SEC for more complete information about the Company and the offerings. You may get these documents for free by visiting EDGAR on the SEC website at <u>www.sec.gov</u> or by visiting <u>www.strategy.com</u>.* 

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![LOGO](g71422dsp002.jpg)

Stretch (Digital Credit) 11. 25% Annualized Yield, Distributed Monthly The Variable Rate Series A Perpetual Stretch Preferred Stock (Nasdaq: "STRC") from Strategy Inc ("Strategy") is a novel income-oriented security designed to deliver: • Perform ance and tax efficiency typically associated with equity • Dow nside protection and low er volatility typically associated with credit without forcing investors to compromise. What Makes STRC Different 11. 25% Annualized Yield Monthly Cash Dividends 2-4x higher yield currently com pared to other short Payable at the end of each m onth if held on the record duration instrum ents—m oney m arket funds, CDs, or T-bills. date (15th of each m onth). Price Stability Near $100 Perpetual Instrument Designed to trade w ith low price volatility. Dividend rate Strategy intends to pay dividends forever, w ith no end adjusted m onthly to encourage trading near $100. date. >$140 Million Daily Liquidity Listed on Nasdaq as "STRC" Average daily trading volum e over the last 30 days. Accessible on m ost m ajor brokerage platform s. 2. 5 Years of Dividend Coverage Credit-Like Profile w ith Strong Backing Strategy holds a cash buffer that provides 2-3 years of Senior to com m on equity and backed by >4x bitcoin dividend coverage. assets on Strategy's balance sheet. Tax Deferred Income (ROC Dividends) Dividends are treated as "Return of Capital" ("ROC") for US taxpayers, reducing a taxpayer's cost basis and allow ing for deferral of capital gains tax rather than im m ediate ordinary incom e tax treatm ent. The tax-equivalent yield hence increases to 18% . Dividend History Period Record Date Payout Date Dividend Rate Dividend/Share Feb 2026 02/15/2026 02/28/2026 11.25% $0.94 Jan 2026 01/15/2026 01/31/2026 11.00% $0.92 Dec 2025 12/15/2025 12/31/2025 10.75% $0.90 Nov 2025 11/15/2025 11/30/2025 10.50% $0.88 Oct 2025 10/15/2025 10/31/2025 10.25% $0.85 Sep 2025 09/15/2025 09/30/2025 10.00% $0.83 Aug 2025\* 08/15/2025 08/31/2025 9.00% $0.80 71422-001 13Feb26 08:17 Page 2 Note: All m arket inform ation provided herein is as of February 10, 2026. \* Accrued from July 29, 2025 through August 31, 2025.

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![LOGO](g71422dsp003.jpg)

Disclaim ers STRC is not FDIC insured, nor is it regulated in the sam e way as, does not have the sam e regulatory and other protections as, and has different features and risks from , bank accounts, registered m oney m arket funds or short -term Treasury bil s. Am ong other things, STRC is not subject to any regulation requiring it to m aintain any particular pricing or stable value, or the fee restrictions or liquidity requirem ents applicable to registered m oney m arket funds. As a result, STRC m ay not be a com parable investm ent for m any investors. Investors should careful y review the features and risks of STRC prior to investing. Investing involves significant risk, including the potential loss of a l principal . Past perform ance is not indicative of future results, and no outcom e is guaranteed. The Com pany has filed with the Securities and Exchange Com m ission ("SEC") a registration statem ent (including a base prospectus), a base prospectus supplem ent and a prospectus supplem ent annex for the offering to which this com m unication relates. Before you invest, you should read the prospectus supplem ent annex, base prospectus supplem ent and the base prospectus and the other docum ents incorporated by reference or that the Com pany has filed with the SEC for m ore com plete inform ation about the Com pany and this offering. You m ay get these docum ents for free by visiting EDGAR on the SEC website at www. sec. gov or by visiting www. strategy. com . This docum ent includes statem ents that m ay constitute "forward-looking statem ents," including statem ents regarding the Com pany's ability to fund dividend paym ents, dividend coverage, expectations regarding E&P, and statem ents containing the words "believe," "estim ate," "project," "expect," "wil ," or sim ilar expressions. Forward-looking statem ents inherently involve risks and uncertainties that could cause actual results of the Com pany to differ m ateria l y from the forward-looking statem ents. Factors that could contribute to such differences, and as we l as risks resulting loss of principal, include: the Com pany's ability to unilatera l y reduce the dividend rate on the STRC, which could cause STRC to accum ulate dividends at rates that are below those of otherwise com parable instrum ents and could cause the trading price or value of STRC to decrease, the Com pany's ability to issue additional indebtedness or preferred stock in the future that ranks equa l y with or senior to the STRC with respect to dividends and liquidation rights without the consent of any holder of STRC, fluctuations in the m arket price of Bitcoin and any associated unrealized gains or losses on digital assets that the Com pany m ay record in its financial statem ents as a result of a change in the m arket price of Bitcoin from the value at which the Com pany's bitcoins are carried on its balance sheet; the availability of debt and equity financing on favorable term s; gains or losses on any sales of bitcoins; changes in the accounting treatm ent relating to the Com pany's bitcoin holdings; changes in securities laws or other laws or regulations, or the adoption of new laws or regulations relating to Bitcoin that adversely affect the price of Bitcoin or the Com pany's ability to transact in or own bitcoin; the im pact of the availability of spot exchange traded products and other investm ent vehicles for bitcoin and other digital assets; a decrease in liquidity in the m arkets in which bitcoin is traded; security breaches, cyberattacks, unauthorized access, loss of private keys, fraud or other circum stances or events that result in the loss of the Com pany's bitcoins; im pacts to the price and rate of adoption of Bitcoin associated with financial difficulties and bankruptcies of various participants in the digital asset industry; the level and term s of the Com pany's substantial indebtedness and its ability to service such debt; the extent and tim ing of m arket acceptance of the Com pany's new product offerings; continued acceptance of the Com pany's other products in the m arketplace; the Com pany's ability to recognize revenue or deferred revenue through delivery of products or satisfactory perform ance of services; the tim ing of significant orders; delays in or the inability of the Com pany to develop or ship new products; custom ers continuing to shift from a product license m odel to a cloud subscription m odel, which m ay delay the Com pany's ability to recognize revenue; fluctuations in tax benefits or provisions; changes in the m arket price of Bitcoin as of period-end and their effect on the Com pany's deferred tax assets, related valuation a l owance, and tax expense; other potentia l y adverse tax consequences, including the potential taxation of unrealized gains on our bitcoin holdings; com petitive factors; general econom ic conditions, including levels of inflation and interest rates; currency fluctuations; and other risks detailed in the Com pany's registration statem ents and periodic and current reports filed with the SEC. The Com pany undertakes no obligation to update these forward-looking statem ents for revisions or changes after the date of the applicable com m unication to which this relates. Tax-Equivalent Yield, with respect to STRC, is the annualized stated interest rate that would be required on a corporate bond trading at par for a U. S. individual investor to receive after -tax cash interest paym ents equivalent to the cash distributions he or she would receive from STRC divided by the current m arket price of STRC, assum ing that (i) the stated interest paym ents under the hypothetical corporate bond are subject to a 37% m arginal U. S. federal incom e tax rate, (i) such stated interest paym ents and cash distributions are not subject to any other federal, state or local taxes (which m ay vary depending on an investor's particular circum stances), (i) the current dividend rate for STRC rem ains constant for 12 m onths and dividends on STRC are declared and paid in ful for such period, and (iv) distributions on STRC rem ain classified as a tax-deferred "return of capital," and are not as taxable dividends, for U. S. federal incom e and state and local tax purposes. Upon disposition or redem ption of STRC, an investor wil be subject to tax on a l prior "return of capital" distributions at the applicable capital gains rate. Upon depletion of an investor's basis in STRC, any further distribution is taxable as capital gain. Investors should consult their tax advisors. The returns do not reflect the perform ance of any specific investor or Strategy product. Upon a sale of STRC, capital gains tax wil be assessed taking into account the reduced cost basis. Upon depletion of a taxpeyer's cost basis in the xstock, any further distributions are genera l y taxable as capital gain. The tax inform ation provided here does not address consequences for non-US investors, who m ay be subject to witholding on distribuitons regardless of E&P This m aterial has been prepared for inform ational purposes only, and is not intended to provide, and should not be relied on for, financial, tax, legal or accounting advice. No representations are m ade regarding the tax consequences of any actions taken based on the inform ation provided. Investors should consult their own financial, tax, legal and accounting advisors for any such advice. The inform ation contained in, accessible from or hyperlinked to our website is not incorporated in this docum ent, except for our filings with the SEC expressly incorporated herein and the specific page from our website indicated below. Learn More Visit Strategy.com/Stretch or em ail IR@Strategy.com to learn m ore. About Strategy Strategy Inc (Nasdaq: STRF/STRC/STRK/STRD/MSTR; LuxSE: STRE) is the w orld's first and largest Bitcoin Treasury Company. We pursue financial innovation strategies designed to generate value from our bitcoin holdings, including developing and issuing novel fixed-income instruments that provide investors varying degrees of economic exposure to bitcoin. In addition, w e are an industry leader in AI-pow ered enterprise analytics softw are, advancing our vision of Intelligence Everyw here™. We believe our combination of active bitcoin-focused capital management and a scaled operating softw are business positions us for long-term value creation across both digital asset and enterprise analytics markets. Strategy, MicroStrategy, and Intelligence Everyw here are either trademarks or registered trademarks of Strategy Inc in the United States and certain other countries. Other product and company names mentioned herein may be the trademarks of their respective ow ners.