Strategy (MSTR) Proxy filing summary

Executive summary

• Focus on transitioning the Variable Rate Series A Perpetual Stretch Preferred Stock dividend from monthly to semi-monthly, aiming to enhance liquidity and reduce volatility.

• Strategic emphasis on maintaining the $100 peg for STRC as the primary business objective, with actions including dividend adjustments, capital raises, and debt buybacks.

• Ongoing commitment to Bitcoin as the primary treasury reserve asset, leveraging both equity and debt financing to accumulate digital assets.

• Forward-looking statements highlight potential future dividend changes and impacts on capital structure.

Voting matters and shareholder proposals

• Shareholders are asked to vote on moving Stretch dividends from monthly to semi-monthly at the June 8, 2026 meeting.

• The proposal is expected to increase liquidity and decrease volatility for the instrument.

• Consideration for future changes to other preferred instruments, but current focus is on Stretch.

Board of directors and corporate governance

• Corporate governance requirements differ from peers due to Delaware incorporation and larger scale.

• Directors and executive officers are participants in the proxy solicitation.