ST JOE Co — Director's Dealing 2006

Nov 14, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ST JOE CO (JOE)
CIK: 0000745308
Period of Report: 2006-11-13

Reporting Person: DREW J EVERITT (Regional President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-11-13	Common Stock	M	10000	$23.42	Acquired	51856	Direct
2006-11-13	Common Stock	M	10000	$32.65	Acquired	61856	Direct
2006-11-13	Common Stock	S	3900	$51.50	Disposed	57956	Direct
2006-11-13	Common Stock	S	200	$51.52	Disposed	57756	Direct
2006-11-13	Common Stock	S	400	$51.56	Disposed	57356	Direct
2006-11-13	Common Stock	S	100	$51.63	Disposed	57256	Direct
2006-11-13	Common Stock	S	11700	$51.65	Disposed	45556	Direct
2006-11-13	Common Stock	S	200	$51.69	Disposed	45356	Direct
2006-11-13	Common Stock	S	200	$51.72	Disposed	45156	Direct
2006-11-13	Common Stock	S	400	$51.76	Disposed	44756	Direct
2006-11-13	Common Stock	S	400	$51.80	Disposed	44356	Direct
2006-11-13	Common Stock	S	2500	$51.90	Disposed	41856	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-11-13	Employee Stock Option	$23.42	M	10000	Disposed	2011-02-19	Common Stock (10000)	Direct
2006-11-13	Employee Stock Option	$32.65	M	10000	Disposed	2013-08-18	Common Stock (10000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	983	Indirect
Common Stock	40	Indirect
Common Stock	40	Indirect

Footnotes

F1: The options vested on February 19, 2006.

F2: 5,000 options vested on each of August 18, 2005 and 2006, and the remaining 5,000 options vest on August 18, 2007.