On January 13, 2017, Oasis Management Company Ltd. announced that on January 11, 2017, it has entered into a Board Representation and Standstill Agreement with Stratus Properties Inc., the Company agreed to immediately appoint Ella Gendel to the Company’s Board of Directors as a Class III director with a term expiring at the Company’s 2019 annual meeting of stockholders and pursuant to which Oasis agreed to certain standstill provisions.