FILINGStrategy (MSTR) · 8-K · accepted Thursday, Aug 28, 2025, 8:00 AM ET
Strategy updated STRC dividend adjustment framework, adding that a five-day VWAP of $95.00
From Strategy’s 8-K, accepted by the SEC on Aug 28, 2025 at 8:00 AM ET.
What it says
Strategy updated its STRC dividend adjustment framework, adding that a five-day VWAP of $95.00, $98.99 leads to a recommended rate increase of 25 basis points or more, and restated the full framework.
What it changed
mNAV
1.75xAug 27 close
1.72xAug 28 close
Enterprise value (diluted market value plus debt and preferreds, minus cash) ÷ bitcoin held
Sats per diluted share
199,359Aug 27 close
199,359Aug 28 close
Bitcoin per diluted share × 100 million
Years of preferred dividends covered
119.6 yrsAug 27 close
121.0 yrsAug 28 close
Bitcoin and cash ÷ a year of preferred dividends at current rates (note interest not included yet)
Also that day
Source
Form 8-K filed by Strategy Inc with the SEC, accepted Thursday, Aug 28, 2025, 8:00 AM ET. Accession 0001193125-25-190363.
Summary and figures read from the filing by Orange Paper’s filing reader and checked before publishing. Calculations (pro forma and close figures) are ours.