Strategy Inc Discloses ATM Program Update with No Preferred Share Sales in Late September

Executive Summary

On October 5, 2026, Strategy Inc (formerly MicroStrategy Inc, CIK: 0001050446) filed a Current Report on Form 8-K under Item 8.01 (Other Events) providing an At-The-Market (ATM) offering facility update.

Key Highlights

• Reporting Period: September 28, 2026 through September 30, 2026.
• Activity: The company reported zero shares sold, $0.0 notional value, and $0.0 net proceeds across all four preferred stock ATM series during the reporting window.
• Available Issuance Capacity as of September 30, 2026:
  • 10.00% Series A Perpetual Strife Preferred Stock (STRF): $1,619.3 million available
  • Variable Rate Series A Perpetual Stretch Preferred Stock (STRC): $17,510.8 million available
  • 8.00% Series A Perpetual Strike Preferred Stock (STRK): $2,100.0 million available
  • 10.00% Series A Perpetual Stride Preferred Stock (STRD): $4,014.8 million available
• Aggregate Available Preferred ATM Capacity: ~$25.245 billion

Trading & Market Significance

• Significance Assessment: Low. This filing is an operational disclosure confirming no equity dilution or preferred share ATM activity took place between September 28 and September 30, 2026. Substantial issuance runway remains available under Strategy Inc's existing shelf facilities.