TLDR:

MicroStrategy (MSTR) is seeking shareholder approval to increase the number of authorized shares, specifically:

This increase will allow the company to potentially expand its capital and invest more in Bitcoin, but does not directly approve a new ATM or expansion of the current plan.

The measure is likely to pass, given that Michael Saylor holds approximately 46.6% of the voting power.

The proposed increase in authorized shares to 10B can enable a potential future stock splits. A stock split would not change the total number of authorized shares, but would increase the number of outstanding shares. For example, if there are 400M outstanding Class A shares and a 10-for-1 stock split occurs, the number of outstanding shares would increase to 4B.