ST JOE Co — Director's Dealing 2008

Dec 9, 2008

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: ST JOE CO (JOE)
CIK: 0000745308
Period of Report: 2008-12-02

Reporting Person: SOLOMON STEPHEN W (SVP and Treasurer)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	39634	Direct
Common Stock	5103.7634	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option	$32.65	2013-08-18	Common Stock (3000)		Direct
Employee Stock Option	$54.24	2016-09-18	Common Stock (5387)		Direct
Employee Stock Option	$54.05	2017-02-12	Common Stock (5534)		Direct

Footnotes

F1: All options are vested.

F2: 3,591 options are vested, and 1,796 options vest on 9/18/2009.

F3: 1,845 options are vested, 1,844 options vest on 2/12/2009 and 1,845 options vest on 2/12/2010.