Strategy Inc. 10.00% Series A Perpetual Strife Preferred Stock

Strategy Inc. 10.00% Series A Perpetual Strife Preferred Stock is a senior-most perpetual preferred stock issued by Strategy Inc., a company known for its Bitcoin treasury strategy and enterprise analytics software. It provides cumulative dividends at a fixed annual rate of 10.00% on a stated amount of $100 per share, payable quarterly in cash when declared by the board of directors, commencing June 30, 2025. Dividends compound quarterly at escalating rates up to 18% per annum if regular payments are missed, enforcing payment discipline. The initial liquidation preference is $100 per share, adjusted daily to the greatest of the stated amount, recent sale prices, or a 10-day average, ensuring alignment with market value. Strategy Inc. reserves the right to redeem all shares under specific conditions, such as low outstanding volume or tax events, while holders can require repurchase upon a fundamental change. As the highest-ranking preferred equity, it sits senior to common stock and certain other preferred issues but junior to debt, offering income-focused investors priority claims on residual assets within Strategy Inc.'s innovative capital structure that supports Bitcoin accumulation and operational needs. Founded in 1989 and headquartered in Tysons Corner, Virginia, Strategy Inc. positions this instrument as long-duration senior credit with governance rights.