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<?xml version="1.0" encoding="windows-1252"?> |
<ownershipDocument> |
| <schemaVersion> X0306 </schemaVersion> |
| <documentType> 4 </documentType> |
| <periodOfReport> 2019-12-11 </periodOfReport> |
| <notSubjectToSection16> 0 </notSubjectToSection16> |
| <issuer> |
| | <issuerCik> 0000885508 </issuerCik> |
| | <issuerName> STRATUS PROPERTIES INC </issuerName> |
| | <issuerTradingSymbol> STRS </issuerTradingSymbol> |
| | </issuer> |
| <reportingOwner> |
| | <reportingOwnerId> |
| | | <rptOwnerCik> 0001317904 </rptOwnerCik> |
| | | <rptOwnerName> Oasis Management Co Ltd. </rptOwnerName> |
| | | </reportingOwnerId> |
| | <reportingOwnerAddress> |
| | | <rptOwnerStreet1> 21/F MAN YEE BUILDING </rptOwnerStreet1> |
| | | <rptOwnerStreet2> 68 DES VOEUX ROAD CENTRAL </rptOwnerStreet2> |
| | | <rptOwnerCity> CENTRAL </rptOwnerCity> |
| | | <rptOwnerState> K3 </rptOwnerState> |
| | | <rptOwnerZipCode> 00000 </rptOwnerZipCode> |
| | | <rptOwnerStateDescription> HONG KONG </rptOwnerStateDescription> |
| | | </reportingOwnerAddress> |
| | <reportingOwnerRelationship> |
| | | <isDirector> 0 </isDirector> |
| | | <isOfficer> 0 </isOfficer> |
| | | <isTenPercentOwner> 1 </isTenPercentOwner> |
| | | <isOther> 0 </isOther> |
| | | <officerTitle></officerTitle> |
| | | <otherText></otherText> |
| | | </reportingOwnerRelationship> |
| | </reportingOwner> |
| <reportingOwner> |
| | <reportingOwnerId> |
| | | <rptOwnerCik> 0001530803 </rptOwnerCik> |
| | | <rptOwnerName> Oasis Investments II Master Fund Ltd. </rptOwnerName> |
| | | </reportingOwnerId> |
| | <reportingOwnerAddress> |
| | | <rptOwnerStreet1> UGLAND HOUSE PO BOX 309 </rptOwnerStreet1> |
| | | <rptOwnerStreet2></rptOwnerStreet2> |
| | | <rptOwnerCity> GRAND CAYMAN </rptOwnerCity> |
| | | <rptOwnerState> E9 </rptOwnerState> |
| | | <rptOwnerZipCode> KY1-1104 </rptOwnerZipCode> |
| | | <rptOwnerStateDescription> CAYMAN ISLANDS </rptOwnerStateDescription> |
| | | </reportingOwnerAddress> |
| | <reportingOwnerRelationship> |
| | | <isDirector> 0 </isDirector> |
| | | <isOfficer> 0 </isOfficer> |
| | | <isTenPercentOwner> 1 </isTenPercentOwner> |
| | | <isOther> 0 </isOther> |
| | | <officerTitle></officerTitle> |
| | | <otherText></otherText> |
| | | </reportingOwnerRelationship> |
| | </reportingOwner> |
| <reportingOwner> |
| | <reportingOwnerId> |
| | | <rptOwnerCik> 0001456474 </rptOwnerCik> |
| | | <rptOwnerName> Fischer Seth </rptOwnerName> |
| | | </reportingOwnerId> |
| | <reportingOwnerAddress> |
| | | <rptOwnerStreet1> C/O OASIS MANAGEMENT (HONG KONG) </rptOwnerStreet1> |
| | | <rptOwnerStreet2> 21/F MAN YEE BUILDING, 68 DES VOEUX ROAD </rptOwnerStreet2> |
| | | <rptOwnerCity> CENTRAL </rptOwnerCity> |
| | | <rptOwnerState> K3 </rptOwnerState> |
| | | <rptOwnerZipCode> 0 </rptOwnerZipCode> |
| | | <rptOwnerStateDescription> HONG KONG </rptOwnerStateDescription> |
| | | </reportingOwnerAddress> |
| | <reportingOwnerRelationship> |
| | | <isDirector> 0 </isDirector> |
| | | <isOfficer> 0 </isOfficer> |
| | | <isTenPercentOwner> 1 </isTenPercentOwner> |
| | | <isOther> 0 </isOther> |
| | | <officerTitle></officerTitle> |
| | | <otherText></otherText> |
| | | </reportingOwnerRelationship> |
| | </reportingOwner> |
| <nonDerivativeTable> |
| | <nonDerivativeTransaction> |
| | | <securityTitle> |
| <value> Common Stock, par value $0.01 ("Common Stock") </value> |
| </securityTitle> |
| | | <transactionDate> |
| <value> 2019-12-11 </value> |
| </transactionDate> |
| | | <deemedExecutionDate></deemedExecutionDate> |
| | | <transactionCoding> |
| <transactionFormType> 4 </transactionFormType> |
| <transactionCode> S </transactionCode> |
| <equitySwapInvolved> 0 </equitySwapInvolved> |
| </transactionCoding> |
| | | <transactionTimeliness></transactionTimeliness> |
| | | <transactionAmounts> |
| <transactionShares> |
| <value> 2000 </value> |
| </transactionShares> |
| <transactionPricePerShare> |
| <value> 30.10 </value> |
| </transactionPricePerShare> |
| <transactionAcquiredDisposedCode> |
| <value> D </value> |
| </transactionAcquiredDisposedCode> |
| </transactionAmounts> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 1123265 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> I </value> |
| </directOrIndirectOwnership> |
| <natureOfOwnership> |
| <value> See footnotes </value> |
| <footnoteId id="F1"/> |
| <footnoteId id="F2"/> |
| </natureOfOwnership> |
| </ownershipNature> |
| | | </nonDerivativeTransaction> |
| | <nonDerivativeTransaction> |
| | | <securityTitle> |
| <value> Common Stock </value> |
| </securityTitle> |
| | | <transactionDate> |
| <value> 2019-12-12 </value> |
| </transactionDate> |
| | | <deemedExecutionDate></deemedExecutionDate> |
| | | <transactionCoding> |
| <transactionFormType> 4 </transactionFormType> |
| <transactionCode> S </transactionCode> |
| <equitySwapInvolved> 0 </equitySwapInvolved> |
| </transactionCoding> |
| | | <transactionTimeliness></transactionTimeliness> |
| | | <transactionAmounts> |
| <transactionShares> |
| <value> 200 </value> |
| </transactionShares> |
| <transactionPricePerShare> |
| <value> 30.18 </value> |
| </transactionPricePerShare> |
| <transactionAcquiredDisposedCode> |
| <value> D </value> |
| </transactionAcquiredDisposedCode> |
| </transactionAmounts> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 1123065 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> I </value> |
| </directOrIndirectOwnership> |
| <natureOfOwnership> |
| <value> See footnotes </value> |
| <footnoteId id="F1"/> |
| <footnoteId id="F2"/> |
| </natureOfOwnership> |
| </ownershipNature> |
| | | </nonDerivativeTransaction> |
| | </nonDerivativeTable> |
| <footnotes> |
| | <footnote id="F1"> 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. </footnote> |
| | <footnote id="F2"> 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. </footnote> |
| | </footnotes> |
| <ownerSignature> |
| | <signatureName> /s/ Oasis Management Company Ltd., By: Phillip Meyer, its General Counsel </signatureName> |
| | <signatureDate> 2019-12-13 </signatureDate> |
| | </ownerSignature> |
| <ownerSignature> |
| | <signatureName> /s/ Oasis Investments II Master Fund Ltd., By: Phillip Meyer, its Director </signatureName> |
| | <signatureDate> 2019-12-13 </signatureDate> |
| | </ownerSignature> |
| <ownerSignature> |
| | <signatureName> /s/ Seth Fischer </signatureName> |
| | <signatureDate> 2019-12-13 </signatureDate> |
| | </ownerSignature> |
| </ownershipDocument> |