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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
885508	Stratus Properties Inc	STRS	Land Subdividers & Developers (No Cemeteries) (6552)	721211572

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
901719	E Carl Berg	10050 Bandley Dr Cupertino CA 95014		No	No	Yes	Yes

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock, Par Value $0.01 Per Share	Disposition	2016-05-05	45,000	$18.00	1,376,002	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Direct

Reported Derivative Transactions

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Repurchase Option (right to purchase)	Acquisiton	2016-05-05	45,000	$0.00	45,000	$18.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
45,000			No	4	J	Direct

Footnotes

On May 5, 2016, the Reporting Person entered into a Stock Purchase and Option Agreement with Mr. David M. Dean (the "Agreement"), pursuant to which the Reporting Person agreed to sell and Mr. Dean agreed to purchase 45,000 shares of the Issuer's Common Stock, par value $0.01 per share ("Common Stock"), beneficially owned by the Reporting Person, for an aggregate price of $810,000, subject to the terms and conditions of the Agreement, including but not limited to the grant by Mr. Dean of a call option with respect to such 45,000 shares of Common Stock in favor of the Reporting Person. The Reporting Person will have the option to repurchase the shares at $18.00 if Mr. Dean fails to serve a full three-year term as director of the Issuer, with the option lapsing as to one-third of the shares each June 30 beginning June 30, 2017. [FN-1 CONTINUED IN REMARKS SECTION OF THIS FORM 4]
As reflected in a Statement on Schedule 13D jointly filed by the Reporting Person, David M. Dean and Michael L. Knapp, the Reporting Person may be deemed to continue to beneficially own 1,421,002 shares of Common Stock as a member of the group along with Mr. Dean and Mr. Knapp after the consummation of the sale of the 45,000 shares of Common Stock to Mr. Dean (the "Sold Shares"). The Reporting Person disclaims beneficial ownership of the Sold Shares and has no pecuniary interest therein after the consummation of the sale of such shares.