Bruce R. Berkowitz - 22 Aug 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)
Issuer symbol: JOE
Transactions as of: 22 Aug 2025
Transactions value $: -$4,087,260
Form type: 4
Filing time: 26 Aug 2025, 16:49:37 UTC
Previous filing: 19 Aug 2025
Next filing: 02 Sep 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)	26 Aug 2025	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)	26 Aug 2025	0001096344

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	JOE	Common Stock	Sale	-$4.09M	-81K	-0.49%	$50.46	16.5M	22 Aug 2025	Direct	F1
holding	JOE	Common Stock						607K	22 Aug 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.

Remarks:

KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned constitutes and appoints Erica K. Kapahi, his true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him and in his capacity as the controlling person of the sole member of Fairholme Capital Management, L.L.C., for the sole purpose of signing on his behalf any and all Regulatory Filings under the Securities Act of 1933, the Securities Exchange Act of 1934, the Investment Advisers Act of 1940 and any amendments and supplements thereto, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorney-in-fact and agent, full power and authority to do and perform each and every act and thing requisite and necessary to accomplish the above, as fully as to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agent, and may lawfully do or cause to be done by virtue hereof. This Power of Attorney shall continue effective until revoked by me at any time.