SEC Info - Stratus Properties Inc. - ‘10-K’ for 12/31/20

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Stratus Properties Inc. – ‘10-K’ for 12/31/20 – ‘EX-10.26’

On: Monday, 3/15/21, at 4:26pm ET · For: 12/31/20 · Accession #: 885508-21-16 · File #: 1-37716

Previous ‘10-K’: ‘10-K’ on 3/16/20 for 12/31/19 · Next: ‘10-K’ on 3/31/22 for 12/31/21 · Latest: ‘10-K’ on 3/28/24 for 12/31/23 · 39 References:

  As Of               Filer                 Filing    For·On·As Docs:Size

 3/15/21  Stratus Properties Inc.           10-K       12/31/20   81:10M

Annual Report — Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   1.22M 
 2: EX-4.1      Instrument Defining the Rights of Security Holders  HTML     55K 
 3: EX-10.18    Material Contract                                   HTML     32K 
 4: EX-10.26    Material Contract                                   HTML     36K 
 5: EX-21.1     Subsidiaries List                                   HTML     25K 
 6: EX-23.1     Consent of Expert or Counsel                        HTML     22K 
 7: EX-31.1     Certification -- §302 - SOA'02                      HTML     25K 
 8: EX-31.2     Certification -- §302 - SOA'02                      HTML     25K 
 9: EX-32.1     Certification -- §906 - SOA'02                      HTML     23K 
10: EX-32.2     Certification -- §906 - SOA'02                      HTML     23K 
17: R1          Cover Page                                          HTML     86K 
18: R2          Consolidated Balance Sheets                         HTML     95K 
19: R3          Consolidated Balance Sheets (Parentheticals)        HTML     33K 
20: R4          Consolidated Statements of Income                   HTML     91K 
21: R5          Consolidated Statements of Cash Flows               HTML    104K 
22: R6          Consoldiated Statements of Equity                   HTML     60K 
23: R7          Summary of Significant Accounting Policies          HTML     63K 
24: R8          Related Party Transactions (Notes)                  HTML     47K 
25: R9          Real Estate, net                                    HTML     53K 
26: R10         Asset Sales                                         HTML     62K 
27: R11         Fair Value Measurements                             HTML     39K 
28: R12         Debt                                                HTML     66K 
29: R13         Income Taxes                                        HTML     77K 
30: R14         Equity Transactions, Stock-Based Compensation and   HTML     52K 
                Employee Benefits                                                
31: R15         Commitments and Contingencies                       HTML     41K 
32: R16         Business Segments                                   HTML    119K 
33: R17         Subsequent Events                                   HTML     24K 
34: R18         Summary of Significant Accounting Policies SUMMARY  HTML     93K 
                OF SIGNIFICANT ACCOUNTING POLICIES (Policies)                    
35: R19         Summary of Significant Accounting Policies SUMMARY  HTML     36K 
                OF SIGNIFICANT ACCOUNTING POLICIES (Tables)                      
36: R20         Related Party Transactions (Tables)                 HTML     39K 
37: R21         Real Estate, net (Tables)                           HTML     48K 
38: R22         Asset Sales (Tables)                                HTML     60K 
39: R23         Fair Value Measurements (Tables)                    HTML     34K 
40: R24         Debt (Tables)                                       HTML     44K 
41: R25         Income Taxes (Tables)                               HTML     80K 
42: R26         Equity Transactions, Stock-Based Compensation and   HTML     36K 
                Employee Benefits (Tables)                                       
43: R27         Commitments and Contingencies (Tables)              HTML     31K 
44: R28         Business Segments (Tables)                          HTML    118K 
45: R29         Summary of Significant Accounting Policies          HTML     70K 
                (Details)                                                        
46: R30         Summary of Significant Accounting Policies Cost of  HTML     44K 
                Sales (Details)                                                  
47: R31         Summary of Significant Accounting Policies          HTML     24K 
                Earnings Per Share (Details)                                     
48: R32         Related Party Transactions The Saint Mary, L.P.     HTML     80K 
                (Details)                                                        
49: R33         Related Party Transactions Kingwood Place, L.P.     HTML    111K 
                (Details)                                                        
50: R34         Related Party Transactions (Details)                HTML     27K 
51: R35         Real Estate, net Summary of Real Estate Holdings    HTML     97K 
                (Details)                                                        
52: R36         Asset Sales - Discontinued Operations (Details)     HTML     74K 
53: R37         Asset Sales - Balance Sheet (Details)               HTML     63K 
54: R38         Asset Sales - Income Statement (Details)            HTML     67K 
55: R39         Asset Sales Asset Sales - Barton Creek Village and  HTML     41K 
                Circle C (Details)                                               
56: R40         Fair Value Measurements - Carrying Amount and Fair  HTML     39K 
                Value (Details)                                                  
57: R41         Fair Value Measurements - Narrative (Details)       HTML     39K 
58: R42         Debt - Schedule of Debt (Details)                   HTML     62K 
59: R43         Debt (Narrative) (Details)                          HTML    322K 
60: R44         Debt - Maturities (Details)                         HTML     37K 
61: R45         Income Taxes - Provision for (Benefit From) Income  HTML     30K 
                Taxes (Details)                                                  
62: R46         Income Taxes - Deferred income taxes (Details)      HTML     43K 
63: R47         Income Taxes - Narrative (Details)                  HTML     35K 
64: R48         Income Taxes - Income taxes (Reconciliation of      HTML     71K 
                U.S. federal statutory rate to effective tax rate)               
                (Details)                                                        
65: R49         Income Taxes - Uncertain tax positions (Details)    HTML     29K 
66: R50         Equity Transactions, Stock-Based Compensation and   HTML     34K 
                Employee Benefits - Equity (Details)                             
67: R51         Equity Transactions, Stock-Based Compensation and   HTML     38K 
                Employee Benefits - Stock Award Plans and                        
                Stock-Based Compensation Costs (Details)                         
68: R52         Equity Transactions, Stock-Based Compensation and   HTML     58K 
                Employee Benefits - RSUs (Details)                               
69: R53         Equity Transactions, Stock-Based Compensation and   HTML     25K 
                Employee Benefits - Stock Options (Details)                      
70: R54         Equity Transactions, Stock-Based Compensation and   HTML     78K 
                Employee Benefits - Employee Benefits (Details)                  
71: R55         Commitments and Contingencies (Details)             HTML     53K 
72: R56         Commitments and Contingencies - Operating Leases    HTML     46K 
                (Details)                                                        
73: R57         Commitments and Contingencies - Future Minimum      HTML     40K 
                Payments for Leases (Details)                                    
74: R58         Commitments and Contingencies - Circle C            HTML     33K 
                Settlement (Details)                                             
75: R59         Commitment and Contingencies - The Oaks at Lakeway  HTML     49K 
                (Details)                                                        
76: R60         Business Segments - Revenues from External          HTML     64K 
                Customers for Products and Services (Details)                    
77: R61         Business Segments (Details)                         HTML    186K 
79: XML         IDEA XML File -- Filing Summary                      XML    139K 
16: XML         XBRL Instance -- strs-20201231_htm                   XML   2.19M 
78: EXCEL       IDEA Workbook of Financial Reports                  XLSX    112K 
12: EX-101.CAL  XBRL Calculations -- strs-20201231_cal               XML    245K 
13: EX-101.DEF  XBRL Definitions -- strs-20201231_def                XML   1.08M 
14: EX-101.LAB  XBRL Labels -- strs-20201231_lab                     XML   1.93M 
15: EX-101.PRE  XBRL Presentations -- strs-20201231_pre              XML   1.35M 
11: EX-101.SCH  XBRL Schema -- strs-20201231                         XSD    200K 
80: JSON        XBRL Instance as JSON Data -- MetaLinks              389±   599K 
81: ZIP         XBRL Zipped Folder -- 0000885508-21-000016-xbrl      Zip    563K

‘EX-10.26’ — Material Contract

This Exhibit is an HTML Document rendered as filed. [ Alternative Formats ]

<! C: C:

Document

SECOND AMENDMENT TO THE

AMENDED AND RESTATED LIMITED PARTNERSHIP AGREEMENT

OF STRATUS KINGWOOD PLACE, L.P.

This Second Amendment to the Amended and Restated Limited Partnership Agreement of Stratus Kingwood Place, L.P. (this “Second Amendment”) is made and entered into by STRATUS NORTHPARK, L.L.C., a Texas limited liability company (the “General Partner”), to be effective as of October 31, 2019 (the “Effective Date”).

R E C I T A L S:

A. STRATUS KINGWOOD PLACE, L.P., a Texas limited partnership (the “Partnership”), is governed by that certain Amended and Restated Limited Partnership Agreement of Stratus Kingwood Place, L.P. dated effective as of August 3, 2018, as amended by that certain First Amendment to the Amended and Restated Limited Partnership Agreement of the Partnership dated effective as of October 31, 2018 (the “Partnership Agreement”).

B. Capitalized terms used in this Second Amendment and not defined in this Second Amendment will have the meanings ascribed to such terms in the Partnership Agreement.

C. Effective as of the Effective Date, Botierra, LLC, a Texas limited liability company (“Botierra”), sold and transferred all of its Interest in the Partnership (“Botierra’s Interest”) to Stratus Properties Operating Co., L.P., a Delaware limited partnership (“SPOC”), and Botierra is no longer a Partner in the Partnership.

D. Pursuant to the authority granted to the General Partner in Section 4.3(c) of the Partnership Agreement, the General Partner desires to amend the Partnership Agreement as set forth in this First Amendment.

NOW, THEREFORE, for and in consideration of the mutual covenants and agreements contained in this First Amendment, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Partnership Agreement is hereby amended as follows:

1. Amendment to Exhibit “A”. Exhibit “A” of the Partnership Agreement is hereby replaced with Exhibit “A” attached hereto and incorporated herein, which reflects the Partners in the Partnership as of the Effective Date and the Capital Interests, Voting Interests, and Capital Contributions of the respective Partners as of the Effective Date, subject to adjustment as provided in the Partnership Agreement.

2. Class B Limited Partner for Interest Transferred from Botierra to SPOC. Effective as of the Effective Date, SPOC (i) succeeded to all of Botierra’s Interest and (ii) will be a Class B Limited Partner with respect to the Interest transferred from Botierra to SPOC. The Partnership will account for and treat the Interest transferred from Botierra to SPOC separate and apart from the Interest owned by SPOC as the Class A Limited Partner. For avoidance of doubt, the calculations, distribution priorities, and other rights and obligations of the Interest transferred from Botierra to SPOC (including, without limitation, the 9% Return, the 11% Return, Capital Interest, Voting Interest, Distribution Interest, Capital Contributions, and Capital Account) will be carried forward and based on the 9% Return, 11% Return, Capital Interest, Voting Interest, Distribution Interest, Capital Contributions, and Capital Account of Botierra before the Effective Date; provided, however, in accordance with Section 5.1 of the Partnership Agreement, the General Partner may treat SPOC as having a single Capital Account reflecting both

SPOC’s Capital Account as a Class A Limited Partner and SPOC’s Capital Account as a Class B Limited Partner.

3. Ratification of Partnership Agreement, As Amended. Except as amended by this Second Amendment, the Partnership Agreement is hereby ratified, confirmed, and approved.

GENERAL PARTNER:

STRATUS NORTHPARK, L.L.C., a Texas limited liability company, General Partner

By: /s/ Erin D. Pickens

Erin D. Pickens, Senior Vice President

EXHIBIT “A”

TO THE SECOND AMENDMENT TO THE

AMENDED AND RESTATED LIMITED PARTNERSHIP AGREEMENT

OF STRATUS KINGWOOD PLACE, L.P.

Partners’ Capital Interests, Voting Interests,

and Capital Contributions Effective as of October 31, 2019


Partners	Capital Interest(1)	Voting Interest(1)	Capital Contributions

General Partner:

Stratus Northpark, L.L.C.	0.1000%	0.1000%	$15,000


Class A Limited Partner:

Stratus Properties Operating Co., L.P.	26.5667%	26.5667%	$3,985,000


Class B Limited Partners:

Blue Bird DE LP	5.0000%	5.0000%	$750,000
Stratus Properties Operating Co., L.P.
(as successor to Botierra, LLC’s Interest)	33.3333%	33.3333%	$5,000,000
Druid Hills Capital, LLC	6.6667%	6.6667%	$1,000,000
GRQ123 Enterprises, LLC	5.5533%	5.5533%	$833,000
GRS123, LLC	3.7800%	3.7800%	$567,000
JBM Trust	6.6667%	6.6667%	$1,000,000
JDJIV Trust Partners	1.6667%	1.6667%	$250,000
LCHM Holdings, LLC	6.6667%	6.6667%	$1,000,000
LMJ Trust Partners	1.6667%	1.6667%	$250,000
Ross L. Vaughan	1.1667%	1.1667%	$175,000
Jeffery L. Smith	1.1667%	1.1667%	$175,000

Class B Limited Partners Subtotal:	73.3333%	73.3333%	$11,000,000

Total:	100.0000%	100.0000%	$15,000,000

Dates Referenced Herein and Documents Incorporated by Reference

This ‘10-K’ Filing	Date	Other Filings

Filed on:	3/15/21	4, 8-A12B/A, 8-K
For Period end:	12/31/20
	10/31/19
	10/31/18
	8/3/18
		List all Filings

6 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 3/28/24  Stratus Properties Inc.           10-K       12/31/23  100:10M
 3/31/23  Stratus Properties Inc.           10-K       12/31/22  102:12M
11/14/22  Stratus Properties Inc.           10-Q        9/30/22   53:6.9M
 5/16/22  Stratus Properties Inc.           10-Q        3/31/22   53:5.9M
 3/31/22  Stratus Properties Inc.           10-K       12/31/21   92:12M
 5/17/21  Stratus Properties Inc.           10-Q        3/31/21   49:4.8M

33 Previous Filings that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 3/15/21  Stratus Properties Inc.           8-A12B/A               2:78K                                    Donnelley … Solutions/FA
 3/15/21  Stratus Properties Inc.           8-K:1,2,3,7 3/12/21   15:3.3M
11/09/20  Stratus Properties Inc.           10-Q        9/30/20   52:6.1M
 9/22/20  Stratus Properties Inc.           8-A12B                 3:420K                                   Donnelley … Solutions/FA
 9/22/20  Stratus Properties Inc.           8-K:1,3,5,8 9/22/20   14:684K                                   Donnelley … Solutions/FA
 6/25/20  Stratus Properties Inc.           10-Q        3/31/20   55:6.2M
 6/15/20  Stratus Properties Inc.           8-K:1,9     6/12/20   13:324K
 5/22/20  Stratus Properties Inc.           8-K:1,8,9   5/21/20   14:260K
 4/17/20  Stratus Properties Inc.           8-K:1,9     4/13/20   13:318K
12/11/19  Stratus Properties Inc.           8-K:1,8,9  12/09/19   12:952K                                   Donnelley … Solutions/FA
10/04/19  Stratus Properties Inc.           8-K:1,2,9   9/30/19   15:1M
 5/10/19  Stratus Properties Inc.           10-Q        3/31/19   51:4.9M
 3/18/19  Stratus Properties Inc.           10-K       12/31/18   74:9.8M
12/12/18  Stratus Properties Inc.           8-K:1,2,8,912/06/18    4:432K
 8/09/18  Stratus Properties Inc.           10-Q        6/30/18   49:6.3M
 7/05/18  Stratus Properties Inc.           8-K:1,2,8,9 6/29/18    4:603K
 3/16/18  Stratus Properties Inc.           10-K       12/31/17   78:11M
 9/07/17  Stratus Properties Inc.           8-K:1,2,8,9 9/01/17    4:298K
 8/09/17  Stratus Properties Inc.           10-Q        6/30/17   42:4.2M
 5/18/17  Stratus Properties Inc.           8-K:5,9     5/18/17    2:176K
 5/03/17  Stratus Properties Inc.           8-K:1,2,8,9 4/28/17    4:247K
 2/21/17  Stratus Properties Inc.           8-K:1,2,8,9 2/15/17    3:326K                                   Donnelley … Solutions/FA
11/09/16  Stratus Properties Inc.           10-Q        9/30/16   44:5.4M
 3/15/16  Stratus Properties Inc.           10-K       12/31/15   72:13M
11/09/15  Stratus Properties Inc.           10-Q        9/30/15   44:5.1M
 3/16/15  Stratus Properties Inc.           10-K       12/31/14   75:15M
 3/05/14  Moffett Louise H.                 SC 13D                 2:79K  Stratus Properties Inc.           Donnelley … Solutions/FA
 3/20/12  Stratus Properties Inc.           8-K:1,3,5,812/07/11    7:441K
 3/31/11  Stratus Properties Inc.           10-K       12/31/10   13:2M                                     Freeport-McMoran Inc.
 8/26/10  Stratus Properties Inc.           8-A12G/A               3:544K                                   Donnelley … Solutions/FA
 5/05/09  Stratus Properties Inc.           10-Q        9/30/08    8:1.4M                                   Freeport-McMoran Inc.
 5/10/07  Stratus Properties Inc.           10-Q        3/31/07   12:906K                                   Freeport-McMoran Inc.
11/14/02  Stratus Properties Inc.           10-Q®       9/30/02    3:254K

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Filing Submission 0000885508-21-000016 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)