Stratus Properties Voluntary Nasdaq Delisting, $5 Dividend

Announcement and Market Reaction

Stratus Properties Inc (NASDAQ:STRS) disclosed that it will voluntarily delist its common stock from Nasdaq and initiate a liquidation process. Following the announcement, the shares declined 2.7% in after‑hours trading on Wednesday.

Liquidating Dividend

The Board approved an initial special cash dividend of $5.00 per share, payable on July 20, 2026 to stockholders of record as of July 13, 2026. This distribution is the first under the company’s approved Plan of Liquidation. The Board indicated that additional liquidating distributions are expected, but the timing and amounts of those future payments cannot be predicted at this time.

Delisting Timeline and Regulatory Filings

Stratus has notified Nasdaq of its intention to voluntarily delist. It plans to file a Form 25 with the U.S. Securities and Exchange Commission on or about July 31, 2026. The delisting is expected to become effective on or about August 10, 2026, with Nasdaq trading to be suspended before the market opens on that date. The company has not secured a listing on another national securities exchange; however, the common stock may continue to be quoted or traded in the over‑the‑counter market if broker‑dealers provide a market.

After the delisting, Stratus intends to file a Form 15 to deregister its common stock under Section 12(g) of the Exchange Act, thereby suspending its reporting obligations under the Securities Exchange Act of 1934.

Rationale for Delisting

The Board considered the ongoing costs and expenses associated with being a publicly traded entity, including auditing fees, legal expenses, and the administrative burden of SEC filings. These costs, together with the management burden of complying with listing and reporting requirements, were deemed disproportionate in light of the company’s planned dissolution and liquidation.

Outlook

No alternative exchange listing has been arranged, and the company’s future trading activity will depend on the willingness of broker‑dealers to make a market in the OTC environment.