Did J.W. Mays (MAYS) report any disagreements related to Ward Lyke Jr.’s departure?

J.W. Mays stated that Ward Lyke Jr.’s departure is not related to any disagreements with the company. The transition agreement is intended to support an orderly transfer of his duties before his separation on September 25, 2026.

J.W. Mays details CFO transition and succession plan

Q: What executive change did J.W. Mays (MAYS) disclose regarding its CFO?

J.W. Mays disclosed a transition agreement under which Ward Lyke Jr. will remain Vice President, Chief Financial Officer, and Treasurer until September 25, 2026, after which he will step down from these roles and resign from the company.

Q: When is Ward Lyke Jr.’s separation date from J.W. Mays (MAYS)?

Ward Lyke Jr.’s separation date is September 25, 2026. He will continue serving as Vice President, Chief Financial Officer, and Treasurer until that date under the transition agreement, after which he will resign from J.W. Mays.

Q: What separation benefits are offered to Ward Lyke Jr. by J.W. Mays (MAYS)?

If Ward Lyke Jr. stays in good standing through September 25, 2026 and signs an Agreement and General Release, J.W. Mays will offer him separation-related benefits, including six weeks of base salary, as outlined in the transition agreement.

Q: Who will assume key financial roles at J.W. Mays (MAYS) after the CFO’s departure?

Upon Ward Lyke Jr.’s separation, current Controller Kevin Guptar will serve as J.W. Mays’ Principal Financial Officer and Principal Accounting Officer. This change becomes effective immediately when Lyke’s employment ends on September 25, 2026.

Accepted by SEC EDGAR 07/30/2026 - 06:02 PM EDT

Filing Impact

(High)

Filing Sentiment

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Form Type

8-K

Rhea-AI Filing Summary

J.W. Mays, Inc. entered into a transition agreement with Vice President, Chief Financial Officer, and Treasurer Ward Lyke Jr. on July 30, 2026. He will continue in his roles through September 25, 2026, when he will step down and resign. The company states his departure is not related to any disagreements.

The agreement keeps his base salary at $316,000 through the Separation Date and, if he remains in good standing and signs an Agreement and General Release, provides separation benefits including six weeks of base salary. Upon his separation, Controller Kevin Guptar will serve as Principal Financial Officer and Principal Accounting Officer.

Positive

None.

Negative

CFO departure effective September 25, 2026 introduces a leadership transition in the company’s finance and accounting functions.

8-K Event Classification

2 items: 5.02, 9.01

2 items

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

CFO base salary: $316,000 Separation Date: September 25, 2026 Severance period: six weeks of base salary +1 more

4 metrics

CFO base salary $316,000 Base salary payable to Ward Lyke Jr. through the Separation Date

Separation Date September 25, 2026 Date when Ward Lyke Jr. will step down and resign from the company

Severance period six weeks of base salary Separation-related benefits offered if employment and release conditions are met

Transition agreement date July 30, 2026 Date J.W. Mays and Ward Lyke Jr. entered into the transition agreement

Key Terms

transition agreement, Agreement and General Release, Principal Financial Officer, Inline XBRL

4 terms

transition agreement regulatory

"entered into a transition agreement with Ward Lyke, Jr."

Agreement and General Release regulatory

"in exchange for him signing and not revoking his acceptance of an Agreement and General Release"

Principal Financial Officer financial

"will serve as the Company’s Principal Financial Officer and Principal Accounting Officer"

The principal financial officer is the senior executive who runs a company's financial operations: preparing and certifying financial reports, managing accounting controls, budgets and cash flow, and advising on financial strategy. Investors care about this role because its competence affects how trustworthy the company’s numbers are, how well it manages risk and capital needs, and the credibility of forecasts—like the chief navigator steering a firm's financial course.

Inline XBRL technical

"the cover page XBRL tags are embedded within the Inline XBRL document"

Inline XBRL is a file format for financial filings that embeds machine-readable data tags directly inside the human-readable report, so the same document can be read by people and parsed by software. For investors it makes extracting, comparing and verifying financial numbers faster and more reliable—like a grocery list where each item also has a barcode—reducing manual errors and speeding up analysis.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What executive change did J.W. Mays (MAYS) disclose regarding its CFO?

J.W. Mays disclosed a transition agreement under which Ward Lyke Jr. will remain Vice President, Chief Financial Officer, and Treasurer until September 25, 2026, after which he will step down from these roles and resign from the company.

When is Ward Lyke Jr.’s separation date from J.W. Mays (MAYS)?

Ward Lyke Jr.’s separation date is September 25, 2026. He will continue serving as Vice President, Chief Financial Officer, and Treasurer until that date under the transition agreement, after which he will resign from J.W. Mays.

What compensation will the outgoing CFO of J.W. Mays (MAYS) receive during the transition?

Under the transition agreement, Ward Lyke Jr. will receive his base salary of $316,000 through September 25, 2026. If he remains employed in good standing, he is eligible for six weeks of base salary as separation-related benefits, subject to signing a release.

What separation benefits are offered to Ward Lyke Jr. by J.W. Mays (MAYS)?

If Ward Lyke Jr. stays in good standing through September 25, 2026 and signs an Agreement and General Release, J.W. Mays will offer him separation-related benefits, including six weeks of base salary, as outlined in the transition agreement.

Who will assume key financial roles at J.W. Mays (MAYS) after the CFO’s departure?

Upon Ward Lyke Jr.’s separation, current Controller Kevin Guptar will serve as J.W. Mays’ Principal Financial Officer and Principal Accounting Officer. This change becomes effective immediately when Lyke’s employment ends on September 25, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Understanding 8-K Material Events →

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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): July 30, 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 5.02 Departure of Directors or Certain Officers; Compensatory Arrangements of Certain Officers

On July 30, 2026, J.W. Mays, Inc. (the “Company”) entered into a transition agreement with Ward Lyke, Jr. (the “Transition Agreement”), which provides for, among other things, the continued employment of Mr. Lyke as Vice President, Chief Financial Officer, and Treasurer through September 25, 2026 (the “Separation Date”), at which time Mr. Lyke will step down from such role and resign from the Company. Mr. Lyke’s departure from the Company is not related to any disagreements with the Company.

In addition to extending Mr. Lyke’s employment agreement term through the Separation Date to facilitate an orderly transition of his duties and responsibilities, the Transition Agreement provides that the Company will continue to pay Mr. Lyke his base salary at the rate of $316,000 until the Separation Date. Assuming that Mr. Lyke remains employed in good standing through the Separation Date, the Company will offer Mr. Lyke certain separation-related benefits, including six weeks of base salary, in exchange for him signing and not revoking his acceptance of an Agreement and General Release, which shall be provided to Mr. Lyke on or shortly after the Separation Date.

Kevin Guptar, the Company’s current Controller, will serve as the Company’s Principal Financial Officer and Principal Accounting Officer effective immediately upon Mr. Lyke’s separation.

The foregoing description does not purport to be complete and is qualified in its entirety by reference to the Transition Agreement, a copy of which is attached hereto as Exhibit 10.1 and incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.		Description

10.1		Transition Agreement, dated July 30, 2026, between J.W. Mays, Inc. and Ward N. Lyke, Jr.

104		Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.

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.

Date: July 30, 2026	By:	/s/ Lloyd Shulman
	Name:	Lloyd J. Shulman
	Title:	Chairman of the Board, Chief Executive Officer, and President

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

4 documents

Agreements & Contracts

EX-10.1 TRANSITION AGREEMENT, DATED JULY 30, 2026, BETWEEN J.W. MAYS, INC. AND WARD N. L 19.9 KB