Strategy Inc name change; STRK Certificate amended, ratification pending
Rhea-AI Filing Summary
MicroStrategy Incorporated changed its corporate name to Strategy Inc and updated its governing documents to reflect the new name. The company stated that its securities will continue to trade on Nasdaq under their existing symbols (MSTR, STRK, STRF, STRD, STRC) and that CUSIP numbers are not affected. The name change does not alter the companys corporate structure.
The company previously filed an amendment to the Certificate of Designations for its 8.00% Series A Perpetual Strike Preferred Stock (STRK) to make technical changes so the liquidation preference per share generally approximates its trading price, with a floor of $100. The amendment is subject to common stockholder ratification and the company will file a proxy statement and solicit votes.
Positive
- Securities will continue trading under the same Nasdaq symbols (MSTR, STRK, STRF, STRD, STRC), providing continuity for investors.
- CUSIP numbers are unchanged, so recordkeeping and settlement identifiers remain consistent for market participants.
- STRK amendment includes a $100 floor on liquidation preference, which establishes a minimum per-share protection level for preferred holders if ratified.
Negative
- STRK Certificate of Amendment is not yet ratified by common stockholders, creating uncertainty about the final legal effect of the change.
- The amendments economic impact on STRK holders is contingent on ratification, so current trading and valuation may change depending on the vote outcome.
Insights
TL;DR: Name change is administrative; STRK amendment sets a $100 liquidation floor but remains subject to shareholder ratification.
The name change to Strategy Inc is procedural and leaves trading symbols and CUSIPs intact, so it should have limited direct financial impact for equity and preferred holders. The STRK Certificate of Amendment alters the liquidation preference framework to align with market trading price with a specified minimum of $100 per share; this is directly relevant to valuation and recovery assumptions for STRK holders. Because the amendment is pending common stockholder ratification, its ultimate effect on preferred-holder economics remains contingent on shareholder approval.
TL;DR: Board-approved name change required no stockholder vote; STRK amendment requires ratification, highlighting a governance approval step investors should monitor.
The board effected the corporate name change and restated bylaws to reflect that change without requiring stockholder approval, which is consistent with the companys governance powers under Delaware law. In contrast, the STRK Certificate of Amendment, although filed, is presented as subject to later common stockholder ratification; this bifurcated treatment creates a clear governance milestone (the proxy solicitation and vote) that will determine whether the specified liquidation preference adjustments become final.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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| Item 5.03 | Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year. |
On August 11, 2025, MicroStrategy Incorporated (the “Company”) filed with the Secretary of State of the State of Delaware an amendment (the “Certificate of Amendment”) to the Company’s Second Restated Certificate of Incorporation (as amended and supplemented to date, the “Certificate of Incorporation”), to effect a change of its name from “MicroStrategy Incorporated” to “Strategy Inc” (the “Name Change”).
The Company’s securities that are listed on The Nasdaq Global Select Market (“Nasdaq”) will continue to trade on Nasdaq under their current symbols:
| • | “MSTR” (class A common stock); |
| • | “STRK” (8.00% Series A Perpetual Strike Preferred Stock); |
| • | “STRF” (10.00% Series A Perpetual Strife Preferred Stock); |
| • | “STRD” (10.00% Series A Perpetual Stride Preferred Stock); and |
| • | “STRC” (Variable Rate Series A Perpetual Stretch Preferred Stock). |
The CUSIP numbers of the Company’s securities are not affected by the Name Change. The Name Change will have no effect on the Company’s corporate structure.
The board of directors of the Company (the “Board”) approved the Name Change pursuant to Section 242 of the General Corporation Law of the State of Delaware. Approval of the Company’s stockholders was not required to effectuate the Name Change. A copy of the Certificate of Amendment is attached hereto as Exhibit 3.1 and incorporated herein by reference.
In connection with the Name Change, the Board also approved an amendment and restatement of the Company’s Amended and Restated Bylaws solely to reflect the Name Change. A copy of the Second Amended and Restated Bylaws is attached hereto as Exhibit 3.2 and incorporated herein by reference.
The Certificate of Amendment and Second Amended and Restated Bylaws are effective August 11, 2025, at 4:01 p.m. Eastern Time. The Name Change will be effective for trading on Nasdaq at the open of market on August 12, 2025.
| Item 8.01 | Other Events. |
On July 7, 2025, the Company filed with the Secretary of State of the State of Delaware a Certificate of Amendment (the “STRK Certificate of Amendment”) to the Certificate of Designations that established the terms of the Company’s 8.00% Series A Perpetual Strike Preferred Stock, $0.001 par value per share (the “STRK Stock”). As described in greater detail in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on July 7, 2025, the STRK Certificate of Amendment was filed to make technical amendments so that, together with other conforming changes, the liquidation preference per share of the STRK Stock would generally approximate its trading price, with a floor of $100. The Company intends to seek common stockholder ratification of the STRK Certificate of Amendment (the “ratification”). Until the ratification has been completed, investors should treat the STRK Certificate of Amendment as being subject to ratification.
Forward-Looking Statements
Statements in this Current Report on Form 8-K about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the Company’s intent, means and expectations regarding ratification of the STRK Certificate of Amendment. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the uncertainties related to the ability to effectuate a ratification of the STRK Certificate of Amendment, the other factors discussed in the “Risk Factors” section of the Company’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 5, 2025, and the risks described in other filings that the Company may make with the Securities and Exchange Commission. Any forward-looking statements contained in this Current Report on Form 8-K speak only as of the date hereof, and, except as required by law, the Company specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise.
Additional Information and Where to Find It
The Company intends to file a proxy statement (the “Proxy Statement”) and accompanying proxy card in connection with the solicitation of proxies for a stockholder meeting. IF AND WHEN THEY BECOME AVAILABLE, INVESTORS AND STOCKHOLDERS ARE STRONGLY ENCOURAGED TO READ THE PROXY STATEMENT AND ACCOMPANYING PROXY CARD AND OTHER DOCUMENTS FILED WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION (THE “SEC”) CAREFULLY AND IN THEIR ENTIRETY, AS THEY WILL CONTAIN IMPORTANT INFORMATION REGARDING THE RATIFICATION. When available, stockholders may obtain the Proxy Statement, any amendments or supplements to the Proxy Statement and other documents filed by the Company with the SEC for no charge at the SEC’s website at www.sec.gov. Copies will also be available at no charge in the Investors section of the Company’s corporate website at https://www.strategy.com/investor-relations.
Participants in the Solicitation
The Company and its directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies from the Company’s stockholders in respect of the matters to be considered at a stockholder meeting. Information about the directors and executive officers of the Company is set forth in the Company’s definitive proxy statement on Schedule 14A filed with the SEC on April 28, 2025 and the Company’s Current Report on Form 8-K filed with the SEC on July 1, 2025. Other information regarding the persons who may be deemed participants in the proxy solicitations in connection with the ratification, and a description of any interests that they have therein, by security holdings or otherwise, will be contained in the Proxy Statement and other relevant materials to be filed with the SEC regarding the ratification when they become available. Stockholders, potential investors and other interested persons should read the Proxy Statement carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit No. |
Description | |
| 3.1 | Certificate of Amendment to the Second Restated Certificate of Incorporation of the Company. | |
| 3.2 | Second Amended and Restated Bylaws of the Company. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: August 11, 2025 | MicroStrategy Incorporated (Registrant) | |||||
| By: | /s/ W. Ming Shao | |||||
| Name: | W. Ming Shao | |||||
| Title: | Executive Vice President & General Counsel | |||||
FAQ
Has MicroStrategy (MSTR) changed its corporate name?
Will MicroStrategys securities ticker symbols change after the name amendment?
What change was made to the STRK preferred stock terms?
Is the STRK amendment final and effective?
Where can investors find more information about the ratification vote?
