---
schema_version: "secwatch.filing_event.v1"
accession: "0000885508-24-000012"
form_type: "8-K"
ticker: "STRS"
cik: "0000885508"
company_name: "STRATUS PROPERTIES INC"
filed_at: "2024-02-21T23:59:59+00:00"
generated_at: "2026-06-05T22:32:58.444900+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Stratus Properties rejects $27.18/share NXSTEP bid; receives revised $27.30 offer

## Summary
- Received unsolicited, non-binding proposal from NXSTEP on Jan 24 at $27.18/share; Board unanimously rejected as undervaluing company.
- On Feb 20, NXSTEP raised estimated net purchase price to ~$27.30/share, subject to same conditions and incorrect assumptions.
- Stockholder Oasis Management filed Schedule 13D amendment supporting NXSTEP's proposal.
- Board will consider updated proposal consistent with fiduciary duties and respond in due course.

## SEC filing metadata
- accession: 0000885508-24-000012
- form_type: 8-K
- ticker: STRS
- cik: 0000885508
- company_name: STRATUS PROPERTIES INC
- filed_at: 2024-02-21T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/885508/000088550824000012/0000885508-24-000012-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/885508/000088550824000012/strs-20240221.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000885508-24-000012
- JSON: https://secwatch.observer/filing/0000885508-24-000012.json
- Plain text: https://secwatch.observer/filing/0000885508-24-000012.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.