Bruce R. Berkowitz - Jul 28, 2023 Form 4 Insider Report for ST JOE Co (JOE)

Role: Director, 10%+ Owner
Signature: Bruce R. Berkowitz, By: /s/ Erica K. Kapahi (Attorney in Fact)
Stock symbol: JOE
Transactions as of: Jul 28, 2023
Transactions value $: -$26,086,500
Form type: 4
Date filed: 8/1/2023, 08:13 PM
Previous filing: Jun 8, 2023
Next filing: Aug 4, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	JOE	Common Stock	Sale	-$12M	-185K	-0.89%	$64.95	20.6M	Jul 28, 2023	Direct	F1
transaction	JOE	Common Stock	Sale	-$7.56M	-119K	-0.58%	$63.82	20.5M	Jul 31, 2023	Direct	F1
transaction	JOE	Common Stock	Sale	-$6.51M	-104K	-0.51%	$62.88	20.4M	Aug 1, 2023	Direct	F1
holding	JOE	Common Stock						607K	Jul 28, 2023	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.