The St. Joe Company (JOE) Shareholder/Analyst Call Transcript

2026-05-12 17:00:54 ET

The St. Joe Company (JOE) Shareholder/Analyst Call May 12, 2026 10:00 AM EDT

Company Participants

Jorge Gonzalez - President, CEO, COO & Chairman of the Board

Conference Call Participants

James Hagan

Presentation

Jorge Gonzalez
President, CEO, COO & Chairman of the Board ...

Good morning, everybody. Good morning. It's 9:00, so we're going to go ahead and get started. First of all, thank you for being here this morning on a rainy morning. I'm Jorge Gonzalez, President, Chief Executive Officer and Chairman of the Board of The St. Joe Company. It is my pleasure to welcome you to the 2026 Annual Shareholder Meeting.

In accordance with the Notice of Meeting, I officially call the meeting to order right at 9:00 Central Time, 10:00 Eastern Time. We will conduct this meeting in accordance with the agenda you were given when you registered this morning. If you have not registered, please do so at this time at the table just outside of the door.

On the reverse side of the agenda is a list of the rules of conduct for this meeting. To ensure an orderly meeting, we require all participants to abide by these rules. After the formal business portion of the meeting has been adjourned, we will have a presentation and then we will provide an opportunity for questions and answers. Only validated shareholders may ask questions in the Q&A session. Out of consideration for others, please limit yourself to no more than 2 questions. We'll answer as many questions as time allows.

Now I would like to introduce the other members of the Board, those present in person, Mr. Howard Frank, Ms. Elizabeth Franklin, Ms. Rhea Goff. We have Mr. Cesar Alvarez joining us through video. He's actually waving. You can see him on the screen. Mr. Tom Murphy is unable to join us this morning. Also with us today is Josh Nixon of Grant Thornton, the company's independent registered public accounting firm, who will be available to answer any appropriate questions during the Q&A. The company's Chief Legal Officer, Lisa Walters, will act as the Secretary of the meeting. We are being assisted today in the tabulation of proxies and ballots by Mr. James Hagan, agent for Broadridge Financial Solutions. At this time, I appoint Mr. James Hagan as Inspector of Elections.

The notice of the meeting has been mailed to each shareholder of record as of March 18, 2026. The Inspector of Elections has informed me that 52,079,637 shares of the company's voting stock are present in person or by proxy, constituting a quorum for today's meeting. The list of shareholders on March 18, 2026, the record date, is available and may be inspected during the meeting by any shareholder who has signed in. The final report of the Inspector of Elections will include the votes, if any, of shareholders present and voting during today's meeting. The company's mailing agent, Broadridge Financial Solutions, has provided an affidavit of mailing to show the notice of the meeting was given on or about March 31, 2026. A copy of both the notice and the affidavit will be incorporated into the minutes of this meeting.

Description of the proposals. Next, I will describe each proposal to be acted upon today and then we will take the vote. Since no director nominations or proposals for business were properly filed by a shareholder in advance of this meeting, the business of this meeting is limited to the following 3 proposals. The first proposal before the shareholders is the election of 6 directors to serve for a 1-year term until the next annual meeting. I am standing for reelection as a director today, along with the following nominees: Cesar Alvarez, Howard Frank, Elizabeth Franklin, Rhea Goff and Thomas Murphy. We recommend the election of these nominees. The second proposal is the ratification of the appointment of Grant Thornton as our independent registered public accounting firm for the 2026 fiscal year. The Audit Committee retained the services of Grant Thornton to audit the company's financial statements for 2026 and the Board recommends that the shareholders ratify the appointment of Grant Thornton.

The third proposal is a proposal to approve on a nonbinding advisory basis, the compensation paid to our named executive officers as described in the Compensation Discussion and Analysis section, the compensation tables and related narrative disclosure set forth in the company's 2026 proxy statement. We recommend approval of the compensation of our named executive officers. Now -- we will now vote on the proposals. Those shareholders voting in person should now mark their ballots. If you have previously voted by proxy, you do not need to vote again today unless you want to change your vote. If you would like a ballot, please raise your hand and one will be provided to you.

[Voting]

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