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0000054187
MAYS J W INC
0000054187
2026-04-14
2026-04-14
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section
13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
April 14, 2026
J. W. Mays, Inc.
(Exact Name of Registrant as Specified in Charter)
| New York |
|
1-3647 |
|
11-1059070 |
(State or Other Jurisdiction
of Incorporation) |
|
(Commission
File Number) |
|
(I.R.S. Employer
Identification No.) |
9 Bond Street.
Brooklyn, New York |
|
11201-5805 |
| (Address of Principal Executive Offices) |
|
(Zip Code) |
Registrant’s Telephone Number, Including
Area Code (718) 624-7400
| |
Not
Applicable |
|
| |
(Former
Name or Former Address, if Changed Since Last Report) |
|
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
| ☐ | Written communication pursuant
to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement
communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement
communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934
(17 CFR §240.12b-2).
Securities registered pursuant to Section
12(b) of the Act:
| Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
| Common Stock, $1 par value |
MAYS |
NASDAQ |
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act. ☐
Item 7.01 Entry into a Material Definitive Agreement.
As previously disclosed in the most recent quarterly
report on Form 10-Q, J.W. Mays, Inc. (the “Company” or “we”) is considering any strategic opportunities
to sell or divest one or more of its properties or real estate assets to manage its liquidity needs, and the determination of whether
a particular property should be sold or otherwise disposed of will generally be made after consideration of relevant factors, including,
but not limited to prevailing macro-economic and real estate market conditions, alternative investment opportunities, tax implications,
and considerations specific to the condition, value, and financial performance of the property to be sold.
The Company has engaged Newmark Group, Inc. to
begin actively marketing 25 Elm Place, Brooklyn, New York (the “Property”) for sale to unaffiliated third-party prospective
buyers. These marketing efforts are in their early stages and will remain ongoing for the foreseeable future. In the interim, management
will continue to lease and operate the Property as usual and plans to engage existing tenants at the Property on a review of their
current leases and the opportunity for certain tenants to enter into lease modifications or terminations, which may also include the relocation
to another Company property at 9 Bond Street, Brooklyn, New York. Any decision by the Company to enter into a sale transaction of the
Property will be approved by the Company’s Board of Directors. There can be no assurances regarding whether a sale of the Property
will take place nor on the timing of such a sale.
Safe Harbor for Forward-Looking Statements
Statements in this Current Report on Form 8-K
regarding the potential sale of the Property and any other statements about future expectations, beliefs, goals, plans or prospects constitute
forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements
of historical fact (including statements containing the words “believes,” “plans,” “anticipates,”
“expects,” estimates and similar expressions) should also be considered to be forward-looking statements. There are a number
of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements,
including, but not limited to: the ability to consummate the proposed transaction, disruptions in the capital and lending markets, economic
conditions, risks of a lessening demand for the real estate owned by the Company, changes in government regulations, geopolitical events
and expenditures that cannot be anticipated such as utility rate and usage increases, unanticipated repairs, insurance increases and real
estate tax valuation reassessments, and the other factors described in the Company’s Annual Report on Form 10-K for the year ended
July 31, 2025 and its most recent quarterly reports on Form 10-Q filed with the SEC. The Company disclaims any intention or obligation
to update any forward-looking statements as a result of developments occurring after the date of this Current Report on Form 8-K.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| |
J. W. Mays, Inc. |
| |
|
| Dated: April 14, 2026 |
By: Ward Lyke, Jr. |
| |
Ward N. Lyke, Jr. |
| |
Vice President, |
| |
Chief Financial Officer |
| |
and Treasurer |
