STRC terms, all versions
Terms are never edited in place. When a filing changes them, the previous version is closed and a new one starts, so each version below shows the dates it applied and the document it was taken from.
Current
30 Jun 2026 to present · 8-K, 29 Jul 2025 ↗ · awaiting review| Issuer | Strategy Inc. |
|---|---|
| Security | Variable Rate Series A Perpetual Stretch Preferred Stock |
| Stated amount (par) | $100.00 per share |
| Dividend rate | Variable; 12.00% currently declared. Issuer may set the rate each period at its sole discretion, but may not cut it (i) by more than 25bp plus the decline in one-month term SOFR over the prior period, or (ii) below one-month term SOFR; no cut allowed while any accumulated dividends are unpaid. Rate announced via strategy.com/strc. |
| Cumulative | Yes |
| Payment frequency | Twice a month |
| Ranking | Junior to STRF; senior to STRE, STRK, STRD, common stock |
| Liquidation preference | Initially $100; adjusted each business day to the greatest of (i) stated amount, (ii) prior-day last reported sale price if the issuer sold shares in the prior 10 trading days, (iii) 10-trading-day average last reported sale price. |
| Redemption | Optional redemption of all or part at $101 (or higher at issuer's discretion) plus accumulated/unpaid dividends, any time after listing; partial redemption only if >= $250m stated amount remains outstanding. Also clean-up (<25% outstanding) and tax redemptions at liquidation preference. |
| Conversion | None |
| Target trading range | $99–$100 |
| Listing | Nasdaq, USD, listed 29 Jul 2025 |
| Notes | A&R CoD effective 2026-06-30 changed payment frequency from monthly to semi-monthly only; rates/other rights unchanged. A further 'Second A&R CoD' (daily record dates) is subject to the 2026-10-28 special meeting. Holders may require repurchase on a 'Fundamental Change' at stated amount plus accumulated and unpaid dividends. Issuer objective, not a contractual term: Q2 2026 10-Q says 'Our objective is for STRC to trade over time at $99 to $100' and refers to a 'targeted range of $99-$100'. The CoD sets no band. Corrected 2026-10-22. |