Form 4: Bruce Berkowitz of Fairholme Capital Management Reports Sale of St. Joe Co Shares

Bruce Berkowitz, controlling person of Fairholme Capital Management, reports the sale of St. Joe Co shares held by The Fairholme Fund and directly owned by Mr. Berkowitz.

Summary

• Bruce R. Berkowitz, through his attorney-in-fact Erica K. Kapahi, filed a Form 4 detailing changes in beneficial ownership of St. Joe Co [JOE] shares.
• The reported transactions include the sale of 1,500 shares on April 26, 2024, at a price of $59.19 per share and 2,600 shares on April 29, 2024, at $59.05 per share.
• These sales were executed by The Fairholme Fund, a series of Fairholme Funds, Inc., for which Fairholme Capital Management, LLC serves as the investment manager.
• Following these transactions, The Fairholme Fund beneficially owns 19,224,624 shares.
• Mr. Berkowitz also directly owns 606,866 shares of St. Joe Co.
• Berkowitz and Fairholme disclaim beneficial ownership except to the extent of their pecuniary interest.

Sentiment

Score: 5

Explanation: Neutral sentiment as it is a standard regulatory filing reporting share sales. The filing itself doesn't convey positive or negative sentiment about the company's prospects.

Management Comments

• 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.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders and significant shareholders, providing transparency to the market.

Stakeholder Impact

• The sale of shares may have a minor impact on the stock price of St. Joe Co.

Key Dates