---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-033573"
form_type: "8-K"
ticker: "MSTR"
cik: "0001050446"
company_name: "Strategy Inc"
filed_at: "2026-02-02T23:59:59+00:00"
generated_at: "2026-05-16T05:32:19.180781+00:00"
event_type: "regulatory"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Strategy Inc says 100% of 2025 preferred dividends are return of capital, no E&P expected

## Summary
- For 2025, 100% of preferred stock distributions were nontaxable return of capital (ROC) per U.S. federal income tax.
- Raised $5.5B from five perpetual preferred IPOs and $1.9B from ATM programs; paid $413M in cumulative distributions at 9.6% blended rate.
- Strategy expects no current or future E&P for foreseeable future (10+ years); dividends treated as ROC to extent of shareholder basis.
- Forms 8937 for each distribution available at strategy.com/investor-relations/dividend-return-of-capital.

## SEC filing metadata
- accession: 0001193125-26-033573
- form_type: 8-K
- ticker: MSTR
- cik: 0001050446
- company_name: Strategy Inc
- filed_at: 2026-02-02T23:59:59+00:00
- event_type: regulatory
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1050446/000119312526033573/0001193125-26-033573-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1050446/000119312526033573/mstr-20260202.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-033573
- JSON: https://secwatch.observer/filing/0001193125-26-033573.json
- Plain text: https://secwatch.observer/filing/0001193125-26-033573.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.