Stratus Properties Inc. (the "Company") held its 2012 annual meeting of stockholders on May 24, 2012, in Austin, Texas. At the annual meeting, the Company's stockholders (1) elected William H. Lenehan and James C. Leslie to serve as Class II directors of the Company for a three-year term and (2) ratified the appointment of BKM Sowan Horan, LLP as the Company's independent registered public accounting firm for the 2012 fiscal year.

Of the 8,095,042 shares of our common stock outstanding as of the record date, 7,442,778 shares were represented at the annual meeting. Our independent inspector of elections reported the vote of stockholders as follows:

Proposal 1: Election of two Class II directors.

Name                 Votes For   Votes Withheld   Broker Non?Votes

William H. Lenehan   2,805,968      417,077          4,219,733

James C. Leslie      2,419,932      803,113          4,219,733

Proposal 2: Ratification of appointment of BKM Sowan Horan, LLP as independent registered public accounting firm.

Votes For Votes Against Abstentions

7,429,398 12,379 1,001