PICKENS ERIN D 4

What Happened
Erin D. Pickens, Senior Vice President and Chief Financial Officer of Stratus Properties (STRS), received two grants of restricted stock units (RSUs) on February 19, 2026 totaling 10,281 RSUs (3,318 and 6,963 RSUs). Both grants were awarded at $0.00 per share (stock-settled RSUs), meaning no cash was paid. These are awards — not purchases or sales — and will convert to common shares only if and when they vest.

Key Details

• Transaction date: February 19, 2026. Form 4 filed February 23, 2026 (timely filing).
• Grants: 3,318 RSUs (F1) and 6,963 RSUs (F2), both reported as Acquisition (code A) at $0.00. Total granted = 10,281 RSUs.
• Vesting: 3,318 RSUs vest in three equal installments on Feb 19, 2027 and each of the next two anniversaries (F1). 6,963 RSUs vest in one installment on Feb 19, 2027 (F2). Vesting is subject to service conditions.
• Shares owned after transaction: The filing states beneficial ownership following the transaction includes 12,397 RSUs (F3).
• Notes: These are compensation/bonus awards (not open-market trades). No sale or cash proceeds were reported.

Context
RSUs represent a promise to receive shares in the future if vesting conditions are met; they do not reflect immediate stock purchases or sales. Such grants are common forms of executive compensation and are typically intended for retention or to pay bonuses. The economic value to the insider will depend on Stratus Properties’ stock price when and if the RSUs vest.