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STRATUS PROPERTIES INC Director's Dealing 2006

Mar 22, 2006

33897_dirs_2006-03-22_2197d6c8-796e-446c-86ee-6f54f745f4f8.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: STRATUS PROPERTIES INC (STRS)
CIK: 0000885508
Period of Report: 2006-03-21

Reporting Person: BAKER JOHN E (N/A)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2006-03-21 Common Stock M 17500 $8.69 Acquired 47191 Direct
2006-03-21 Common Stock M 19000 $9.44 Acquired 66191 Direct
2006-03-21 Common Stock M 15152 $8.45 Acquired 81343 Direct
2006-03-21 Common Stock M 11250 $9.25 Acquired 92593 Direct
2006-03-21 Common Stock M 7500 $10.555 Acquired 100093 Direct
2006-03-21 Common Stock M 6250 $16.015 Acquired 106343 Direct

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2006-03-21 Option (right to buy) $8.69 M 17500 Disposed 2010-02-10 Common Stock (17500) Direct
2006-03-21 Option (right to buy) $9.44 M 19000 Disposed 2010-12-21 Common Stock (19000) Direct
2006-03-21 Option (right to buy) $8.45 M 15152 Disposed 2012-01-17 Common Stock (15152) Direct
2006-03-21 Option (right to buy) $9.25 M 11250 Disposed 2012-12-17 Common Stock (11250) Direct
2006-03-21 Option (right to buy) $10.555 M 7500 Disposed 2013-12-17 Common Stock (7500) Direct
2006-03-21 Option (right to buy) $16.015 M 6250 Disposed 2014-12-30 Common Stock (6250) Direct

Footnotes

F1: Amount beneficially owned following the reported transactions includes 25,250 Common Stock Restricted Stock Units.

F2: 25% exercisable on the date indicated and 25% exercisable on each of the next three anniversaries thereof.

F3: 25% exercisable on the date indicated and 25% exercisable on each of the next three anniversaries thereof.

F4: 25% exercisable on the date indicated and 25% exercisable on each of the next three anniversaries thereof.

F5: 25% exercisable on the date indicated and 25% exercisable on each of the next three anniversaries thereof.

F6: 25% exercisable on the date indicated and 25% exercisable on each of the next three anniversaries thereof.

F7: 25% exercisable on the date indicated and 25% exercisable on each of the next three anniversaries thereof.