STRK 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
7 Jul 2025 to present · 8-K, 5 Feb 2025 ↗ · awaiting review| Issuer | Strategy Inc. |
|---|---|
| Security | 8.00% Series A Perpetual Strike Preferred Stock |
| Stated amount (par) | $100.00 per share |
| Dividend rate | 8.00% a year, fixed |
| Cumulative | Yes |
| Payment frequency | Quarterly |
| Ranking | Junior to STRF, STRC, STRE; senior to 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. (since 2025-07-07 amendment) |
| Redemption | Clean-up redemption if aggregate liquidation preference outstanding < 25% of that issued in the IPO; tax redemption at greater of liquidation preference and 5-day average price. No general optional call. |
| Conversion | Holder may convert any business day at 0.1000 MSTR shares per STRK share (initial conversion price $1,000.00), subject to anti-dilution adjustment. |
| Listing | Nasdaq, USD, listed 5 Feb 2025 |
| Notes | Original CoD: fixed $100 liquidation preference. Amendment filed 2025-07-07 made the liquidation preference float (greatest-of rule, floor $100). 10-Q lists STRK stated amount as 'n/a'. Yes, subject to a limited exception (per 10-Q footnote). Included in 2026-10-28 daily-dividend proposal; first daily dividends expected 2027-01-04 if approved. |