SKIP STRATEGY’S DAILY DIVIDEND VOTE AND YOU VOTED NO — SAYLOR HAS 32.8% — HE NEEDS ONE IN FOUR OF EVERYONE ELSE’S MSTR SHARES — PREFERRED SHAREHOLDERS DO NOT GET TO VOTE

If you held MSTR on September 25 and don’t vote, you voted no. That’s Strategy’s own line, from a post on October 13, 2026: “Not voting counts as a no.” The proposal for daily dividends on the four preferred stocks needs a majority vote from the common shareholders. Votes that never show up count against it.

Saylor’s shares, as Strategy’s proxy counts them, carry 196,539,375 of the 598,740,158 votes. That’s 32.8%, almost all of it from Class B shares worth ten votes apiece. Passing takes 299,370,080. So Strategy needs 102,830,705 more yes votes, about one in four of everyone else’s Class A shares. Same day as the post, it put out a three-step voting video on X.

Preferred shareholders do not get to vote. The proxy says STRF, STRC, STRE, STRK and STRD holders “do not have voting rights with respect to any of the matters to be acted on at this Special Meeting.” Saylor doesn’t own any of them. If it passes, STRC goes daily on November 1 and the other three on January 1.

Our read: it’s good for MSTR. Daily pay is what income buyers want, and more demand for the preferreds is one more way for Strategy to raise money for bitcoin. It also opens bitcoin treasury companies to the investment income market. We won’t tell you how to vote. Voting closes at 11:59 PM Eastern on October 27. At the time of this writing, bitcoin was $83,774.