X0202 SCHEDULE 13D/A 0000902664-26-001943 0001317904 XXXXXXXX LIVE 6 Common stock, $0.01 par value 04/16/2026 false 0000885508 863167201 Stratus Properties Inc

212 Lavaca Street Suite 300 Austin TX 78701

Oasis Management Company Ltd. (852) 2847-7708 c/o Oasis Management (Hong Kong) 25/F, LHT Tower, 31 Queen's Road Central Central K3 00000 Ele Klein (212) 756-2000 McDermott Will & Schulte LLP 919 Third Avenue New York NY 10022 0001317904 N Oasis Management Company Ltd. AF N E9 0.00 1027258.00 0.00 1027258.00 1027258.00 N 12.9 OO 0001530803 N Oasis Investments II Master Fund Ltd. WC OO N E9 0.00 1027258.00 0.00 1027258.00 1027258.00 N 12.9 OO 0001456474 N Seth Fischer AF N 2M 0.00 1027258.00 0.00 1027258.00 1027258.00 N 12.9 IN HC Common stock, $0.01 par value Stratus Properties Inc 212 Lavaca Street Suite 300 Austin TX 78701 This Amendment No. 6 ("Amendment No. 6") amends and supplements the statement on Schedule 13D filed with the Securities and Exchange Commission (the "SEC") on September 12, 2016 (the "Original Schedule 13D") as amended by Amendment No. 1 to the Schedule 13D filed with the SEC on January 13, 2017 ("Amendment No. 1"), Amendment No. 2 to the Schedule 13D filed with the SEC on September 23, 2020 ("Amendment No. 2"), Amendment No. 3 to the Schedule 13D filed with the SEC on January 5, 2021 ("Amendment No. 3"), Amendment No. 4 to the Schedule 13D filed with the SEC on April 6, 2023 ("Amendment No. 4") and Amendment No. 5 to the Schedule 13D filed with the SEC on February 20, 2024 ("Amendment No. 5", and together with the Original Schedule 13D, Amendment No. 2, Amendment No. 3, Amendment No. 4, Amendment No. 5 and this Amendment No. 6, the "Schedule 13D"), with respect to the shares ("Shares") of common stock, par value $0.01 per share, of Stratus Properties Inc., a Delaware corporation (the "Issuer"). This Amendment No. 6 amends and restates Items 5(a) - (c) as set forth below. Capitalized terms used herein and not otherwise defined in this Amendment No. 6 have the meanings set forth in the Schedule 13D. See rows (11) and (13) of the cover pages to this Schedule 13D for the aggregate number of Shares and percentage of the Shares beneficially owned by each of the Reporting Persons. The percentages used in this Schedule 13D are calculated based upon 7,982,525 Shares reported to be outstanding as of March 20, 2026 in the Issuer's Annual Report on Form 10-K for the fiscal year ended December 31, 2025 filed with the SEC on March 27, 2026. See rows (7) through (10) of the cover pages to this Schedule 13D for the number of Shares as to which each of the Reporting Persons has the sole power to vote or direct the vote and sole power to dispose or to direct the disposition. The transactions in the Shares by Oasis II Fund within the past sixty days, which were all in the open market, except where otherwise noted, are set forth in Schedule B, and are incorporated herein by reference. The other Reporting Persons did not enter into any transactions in the Shares within the past sixty days. Oasis Management Company Ltd. /s/ Phillip Meyer 04/20/2026 Oasis Investments II Master Fund Ltd. /s/ Phillip Meyer 04/20/2026 Seth Fischer /s/ Seth Fischer 04/20/2026