ST JOE Co — Director's Dealing 2007

Jul 3, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ST JOE CO (JOE)
CIK: 0000745308
Period of Report: 2007-06-29

Reporting Person: DURDEN HUGH M (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-07-02	Common Stock	A	466	$46.88	Acquired	9688	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-06-29	Phantom Stock	$	A	5.53	Acquired		Common Stock (5.53)	Direct

Footnotes

F1: 1-for-1

F2: The phantom stock units were accrued under the issuer's Directors Deferred Compensation Plan and are to be settled in cash or the issuer's Common Stock, at the reporting person's election upon retirement.