Strategy (MSTR) Proxy filing summary

Executive summary

• Michael Saylor discussed the 2026 Special Meeting and proposed changes to preferred-stock terms in a Market Overtime appearance; the filing includes excerpts and a social media post.

• The proposed changes could move dividend payments to every calendar day if shareholders approve them.

Voting matters and shareholder proposals

• A shareholder vote on proposed changes to the terms of four preferred-stock series was expected at the 2026 Special Meeting near the end of October 2026.

• The definitive proxy statement and proxy card began mailing to eligible stockholders on October 5, 2026; voting must follow the instructions in the definitive proxy statement.

• The communication did not include proxy cards.

Shareholder rights and capital structure

• Proposed terms cover 10.00% Series A Perpetual Strife, Variable Rate Series A Perpetual Stretch, 8.00% Series A Perpetual Strike, and 10.00% Series A Perpetual Stride preferred stock.

• If the vote passes as expected, all credit instruments would pay dividends every calendar day; existing preferred instruments included quarterly and twice-monthly schedules.

• Management said daily payments are intended to smooth volatility and increase liquidity, while supporting 24/7 trading and potential tokenization and arbitrage across global markets.