ARMSTRONG WILLIAM H III 4

What Happened

William H. Armstrong III — Chair, President, CEO and Director of Stratus Properties, Inc. (STRS) — had a total of 5,691 shares withheld to satisfy tax obligations tied to vested restricted stock units (RSUs). On Feb 13, 2026, 4,360 shares were withheld at $29.69 each ($129,448); on Feb 15, 2026, 1,331 shares were withheld at $29.40 each ($39,131). These dispositions were tax-withholding transactions, not open-market sales driven by trading intent.

Key Details

• Transaction dates and prices:
  • 2026-02-13: 4,360 shares withheld @ $29.69 = $129,448
  • 2026-02-15: 1,331 shares withheld @ $29.40 = $39,131
• Total shares withheld: 5,691; total value ≈ $168,579.
• Shares beneficially owned after the transactions include 7,965 RSUs (per filing footnote).
• Footnotes: F1 = shares were withheld to cover taxes on RSU vesting; F2 = post-transaction beneficial ownership includes 7,965 RSUs.
• Filing date: Form 4 filed 2026-02-17 reporting the Feb 13 and Feb 15 transactions.

Context

• This was a routine tax-withholding (cashless) disposition associated with RSU vesting, not an open-market sale indicating a change in investment conviction.
• Such withholdings are common when equity awards vest and do not necessarily reflect the insider’s view of the company’s stock.