Bruce R. Berkowitz - Sep 5, 2025 Form 4 Insider Report for ST JOE Co (JOE)

Role: 10%+ Owner
Signature: Bruce R. Berkowitz, By: /s/ Erica K. Kapahi (Attorney in Fact)
Stock symbol: JOE
Transactions as of: Sep 5, 2025
Transactions value $: -$5,317,428
Form type: 4
Date filed: 9/9/2025, 04:39 PM
Previous filing: Sep 2, 2025
SEC: View on sec.gov

Reporting Owners (2)

Name	Relationship	Address	Signature	Signature date	CIK
BERKOWITZ BRUCE R	10%+ Owner	C/O FAIRHOLME CAPITAL MANAGEMENT, L.L.C., 5966 SOUTH DIXIE HIGHWAY, SUITE 300, SOUTH MIAMI	Bruce R. Berkowitz, By: /s/ Erica K. Kapahi (Attorney in Fact)	2025-09-09	0001214344
FAIRHOLME FUNDS INC	10%+ Owner	C/O FAIRHOLME CAPITAL MANAGEMENT, L.L.C., 5966 SOUTH DIXIE HIGHWAY, SUITE 300, SOUTH MIAMI	Fairholme Funds, Inc., By: Fairholme Capital Management, L.L.C., Investment Manager, Bruce R. Berkowitz, By: /s/ Erica K. Kapahi (Attorney in Fact)	2025-09-09	0001096344

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	JOE	Common Stock	Sale	-$5.32M	-104K	-0.63%	$51.08	16.3M	Sep 5, 2025	Direct	F1
holding	JOE	Common Stock						607K	Sep 5, 2025	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The reported transactions were in securities held by The Fairholme Fund, a series of Fairholme Funds, Inc. (the "Fairholme Fund"). The securities may be deemed to be beneficially owned by Mr. Bruce R. Berkowitz ("Mr. Berkowitz") because he controls the sole member of Fairholme Capital Management, LLC ("Fairholme"), which may be deemed to have beneficial ownership of the securities because Fairholme serves as the investment manager to the Fairholme Fund. Mr. Berkowitz and Fairholme disclaim beneficial ownership in the securities reported on this Form 4 except to the extent of its pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that Mr. Berkowitz and Fairholme are the beneficial owners of such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose.
F2	The reported securities are directly owned by Mr. Berkowitz.

Content

The reported transactions were in securities held by The Fairholme Fund, a series of Fairholme Funds, Inc. (the "Fairholme Fund"). The securities may be deemed to be beneficially owned by Mr. Bruce R. Berkowitz ("Mr. Berkowitz") because he controls the sole member of Fairholme Capital Management, LLC ("Fairholme"), which may be deemed to have beneficial ownership of the securities because Fairholme serves as the investment manager to the Fairholme Fund. Mr. Berkowitz and Fairholme disclaim beneficial ownership in the securities reported on this Form 4 except to the extent of its pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that Mr. Berkowitz and Fairholme are the beneficial owners of such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose.

The reported securities are directly owned by Mr. Berkowitz.