X0508 4 2023-12-21 true 0001616741 PATRIOT TRANSPORTATION HOLDING, INC. PATI 0001190090 BAKER THOMPSON S II C/O PATRIOT TRANSPORTATION HOLDING INC. 200 W. FORSYTH ST., 7TH FLOOR JACKSONVILLE FL 32202 true false Common Stock 2023-12-21 4 D 0 90259 16.26 D 0 I Held in Living Trust Common Stock 2023-12-21 4 D 0 733 16.26 D 0 I Held by wife Common Stock 2023-12-21 4 D 0 2199 16.26 D 0 I See footnote Common Stock 2023-12-21 4 D 0 35291 16.26 D 0 I See footnote Common Stock 2023-12-21 4 D 0 105867 16.26 D 0 I See footnote Option to Buy 10.018 2023-12-21 4 D 0 12571 16.26 D 2024-12-03 Common Stock 12571 0 D Option to Buy 8.84 2023-12-21 4 D 0 28825 16.26 D 2025-11-18 Common Stock 28825 0 D Option to Buy 7.953 2023-12-21 4 D 0 40507 16.26 D 2026-11-17 Common Stock 40507 0 D Pursuant to an Agreement and Plan of Merger, each share of common stock was converted into the right to receive $16.26 per share in cash (the "Merger Consideration"). Each outstanding stock option was cancelled in exchange for the right to receive a cash payment of an amount equal to the product of (i) the total number of shares of common stock underlying such stock option and (ii) the excess of the (x) Merger Consideration over the (y) per-share exercise price of the stock option. Each outstanding SAR was cancelled in exchange for the right to receive a cash payment of an amount equal to the product of (i) the total number of shares of common stock underlying each such SAR and (ii) the excess, if any, of (x) the Merger Consideration over (y) the per-share SAR Price. Shares held in trust by the Reporting Person and his wife for the benefit of the Reporting Person's children. Shares held by the Reporting Person as trustee for the separate trust for Thompson S. Baker II created under the Cynthia L. Baker Trust U/A/D April 30, 1965. Shares held by the Reporting Person and his siblings as trustees for separate trusts for the Reporting Person's siblings created under the Cynthia L. Baker Trust U/A/D April 30, 1965. The Reporting Person disclaims beneficial ownership of these shares. Each outstanding stock option was cancelled in exchange for the right to receive a cash payment of an amount equal to the product of (i) the total number of shares of common stock underlying such stock option and (ii) the excess of the (x) Merger Consideration over the (y) per-share exercise price of the stock option. /s/Thompson S. Baker II 2023-12-21