Oasis-linked fund trims Stratus (STRS) stake, keeps 1.03M shares

Rhea-AI Filing Summary

Stratus Properties Inc. large shareholder Oasis Investments II Master Fund Ltd. reported open-market sales of a total of 48,806 shares of common stock. The sales occurred on April 17 and April 20, 2026 at prices around $30 per share. After these transactions, entities associated with Oasis still indirectly held 1,027,258 shares of Stratus common stock. The shares are held directly by Oasis Investments II Master Fund Ltd., with Oasis Management Company Ltd. serving as investment manager and Seth Fischer overseeing investment activities. The reporting persons each disclaim beneficial ownership beyond any pecuniary interest.

Insider Trade Summary

Net Seller: 48,806 shares ($1,463,235)

Net Sell 5 txns

Insider Oasis Management Co Ltd., Oasis Investments II Master Fund Ltd., Fischer Seth

Role null | null | null

Sold 48,806 shs ($1.46M)

Type	Security	Shares	Price	Value
Sale	Common Stock, par value $0.01 per share	4,483	$30.0246	$135K
Sale	Common Stock, par value $0.01 per share	10,000	$30.0036	$300K
Sale	Common Stock, par value $0.01 per share	10,000	$30.0277	$300K
Sale	Common Stock, par value $0.01 per share	10,000	$30.0002	$300K
Sale	Common Stock, par value $0.01 per share	14,323	$29.9043	$428K

Holdings After Transaction: Common Stock, par value $0.01 per share — 1,027,258 shares (Indirect, See footnotes)

Footnotes (1)

1. The securities to which this filing relates are held directly by Oasis Investments II Master Fund Ltd., a Cayman Islands exempted company (the "Oasis II Fund"). Oasis Management Company Ltd., a Cayman Islands exempted company (the "Investment Manager"), is the investment manager of Oasis II Fund. Seth Fischer, is responsible for the supervision and conduct of all investment activities of the Investment Manager, including all investment decisions with respect to the assets of the Oasis II Fund. The filing of this statement shall not be deemed an admission that any of the Reporting Persons is the beneficial owner of the securities reported herein for purposes of Section 16 of the Securities Act of 1934, as amended, or otherwise. Each of the Reporting Persons expressly disclaims beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interest therein, if any. The price reflected has been rounded to four decimal places.

Key Figures

Total shares sold: 48,806 shares Shares sold on 2026-04-20: 4,483 shares Largest single-day sale: 14,323 shares +3 more

6 metrics

Total shares sold 48,806 shares Open-market sales reported for April 17 and 20, 2026

Shares sold on 2026-04-20 4,483 shares Common stock sale at $30.0246 per share

Largest single-day sale 14,323 shares Common stock sold on April 17, 2026 at $29.9043 per share

Other April 17 trades 30,000 shares Three blocks of 10,000 shares at $30.0002, $30.0277, $30.0036

Post-transaction holdings 1,027,258 shares Indirectly held after April 20, 2026 sale

Transaction price example $30.0277 per share One of the April 17, 2026 open-market sales

Key Terms

open-market sale, ten percent owner, indirect ownership, pecuniary interest, +1 more

5 terms

open-market sale financial

"transaction_action: "open-market sale" for each common stock transaction"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

ten percent owner financial

"reporting persons flagged with "is_ten_percent_owner": 1"

indirect ownership financial

"direct_or_indirect set to "I" with nature_of_ownership "See footnotes""

pecuniary interest financial

"footnote states they disclaim beneficial ownership except to the extent of pecuniary interest"

beneficial owner financial

"footnote notes filing is not an admission of being the beneficial owner"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Oasis Management Co Ltd.

(Last) (First) (Middle)

4TH FLOOR ANDERSON SQUARE

64 SHEDDEN ROAD, P.O. BOX 10324

(Street)

GRAND CAYMAN KY1-1103

(City) (State) (Zip)

CAYMAN ISLANDS

(Country)

2. Issuer Name and Ticker or Trading Symbol
STRATUS PROPERTIES INC [ STRS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/17/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $0.01 per share	04/17/2026		S		10,000	D	$30.0036(3)	1,066,064	I	See footnotes(1)(2)
Common Stock, par value $0.01 per share	04/17/2026		S		10,000	D	$30.0277(3)	1,056,064	I	See footnotes(1)(2)
Common Stock, par value $0.01 per share	04/17/2026		S		10,000	D	$30.0002(3)	1,046,064	I	See footnotes(1)(2)
Common Stock, par value $0.01 per share	04/17/2026		S		14,323	D	$29.9043	1,031,741	I	See footnotes(1)(2)
Common Stock, par value $0.01 per share	04/20/2026		S		4,483	D	$30.0246(3)	1,027,258	I	See footnotes(1)(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

Oasis Management Co Ltd.

(Last) (First) (Middle)

4TH FLOOR ANDERSON SQUARE

64 SHEDDEN ROAD, P.O. BOX 10324

(Street)

GRAND CAYMAN KY1-1103

(City) (State) (Zip)

CAYMAN ISLANDS

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Oasis Investments II Master Fund Ltd.

(Last) (First) (Middle)

PO BOX 309, UGLAND HOUSE

(Street)

GRAND CAYMAN KY1-1103

(City) (State) (Zip)

CAYMAN ISLANDS

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Fischer Seth

(Last) (First) (Middle)

C/O OASIS MANAGEMENT (HONG KONG)

25/F, LHT TOWER, 31 QUEEN'S ROAD CENTRAL

(Street)

CENTRAL 0

(City) (State) (Zip)

HONG KONG

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. The securities to which this filing relates are held directly by Oasis Investments II Master Fund Ltd., a Cayman Islands exempted company (the "Oasis II Fund"). Oasis Management Company Ltd., a Cayman Islands exempted company (the "Investment Manager"), is the investment manager of Oasis II Fund. Seth Fischer, is responsible for the supervision and conduct of all investment activities of the Investment Manager, including all investment decisions with respect to the assets of the Oasis II Fund.

2. The filing of this statement shall not be deemed an admission that any of the Reporting Persons is the beneficial owner of the securities reported herein for purposes of Section 16 of the Securities Act of 1934, as amended, or otherwise. Each of the Reporting Persons expressly disclaims beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interest therein, if any.

3. The price reflected has been rounded to four decimal places.

	/s/ Oasis Management Company Ltd., By: Phillip Meyer, its General Counsel	04/21/2026
	/s/ Oasis Investments II Master Fund Ltd., By: Phillip Meyer, its Director	04/21/2026
	/s/ Seth Fischer	04/21/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What did Oasis entities do in this Form 4 for STRATUS PROPERTIES INC (STRS)?

Oasis Investments II Master Fund Ltd. reported open-market sales of Stratus Properties common stock. Across April 17 and April 20, 2026, it sold 48,806 shares at prices near $30 per share, modestly reducing its overall indirect position.

How many STRS shares were sold in the latest Oasis Form 4 filing?

The filing shows total open-market sales of 48,806 shares of Stratus Properties common stock. These sales were split across several trades on April 17 and April 20, 2026, at prices slightly above $29.90 and around $30 per share.

What prices did Oasis-related entities receive for the STRS shares sold?

Reported sale prices ranged from $29.9043 to $30.0277 per share. Each transaction line in the Form 4 lists a specific average price per share, rounded to four decimal places, reflecting separate open-market trades in Stratus Properties common stock.

How many STRATUS PROPERTIES INC (STRS) shares does the Oasis fund hold after these sales?

After the reported transactions, entities associated with Oasis showed indirect ownership of 1,027,258 shares of Stratus Properties common stock. This remaining position, disclosed in the Form 4, indicates that the sales reduced but did not eliminate their sizable stake.

Who actually holds the STRS shares reported in the Oasis Form 4?

The securities are held directly by Oasis Investments II Master Fund Ltd., a Cayman Islands exempted company. Oasis Management Company Ltd. acts as investment manager, and Seth Fischer supervises its investment activities, while each reporting person disclaims beneficial ownership beyond pecuniary interest.

Are the Oasis STRS transactions direct or indirect holdings for the reporting persons?

All reported transactions are marked as indirect ownership. The Form 4 states the shares are held by Oasis Investments II Master Fund Ltd., with the reporting persons referencing footnotes and expressly disclaiming beneficial ownership except to the extent of any pecuniary interest.