Strategy (MSTR) Proxy filing summary

Executive summary

• Proposed amendments would shift dividend record dates for four preferred-stock series to every calendar day, with declared dividends payable on the next business day; changes require stockholder approval and effective amended certificates.

• Video commentary described annual dividend economics as unchanged, while citing potential for less ex-dividend price volatility and greater liquidity; these are potential benefits, not guaranteed outcomes.

Voting matters and shareholder proposals

• Stockholders were asked to vote by October 28, 2026, on daily dividends for STRF, STRC, STRK and STRD; STRC was proposed to start November 1, 2026, and the other three January 1, 2027, if approved.

• Holders of Class A and/or Class B common stock at the close of business September 25, 2026, are eligible to vote; the communication does not furnish proxy cards, and voting must follow the definitive proxy statement instructions.

Shareholder rights and capital structure

• STRC currently pays a variable annual dividend rate of 12% semi-monthly; STRF, STRK and STRD currently pay quarterly, with fixed annual dividends of $10, $8 and $10 per share, respectively.

• STRD dividends are non-cumulative; STRK holders may convert into Class A common stock at 0.1 shares per STRK share, subject to adjustment, limitations and procedures.

• Under the proposal, all calendar days, including weekends and holidays, would be record dates; declared dividends would be paid on the next business day. Additional payment days would require designation and advance notice if exchange trading expands.