HHH

SEC source: 0001104659-26-011058 · tm265296-6_4seq1.xml · nonDerivative · entry 1

Verbinskaya Elena · CIK 0001728423 · Chief Accounting Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 8,184

F1 · shares: Represents shares of time-based restricted stock granted on February 3, 2026 under the Issuer's 2025 Equity Incentive Plan, with one-third (1/3) of the total number of shares granted vesting on the following dates: February 3, 2027, December 31, 2027 and December 31, 2028.

SEC source: 0001104659-26-011061 · tm265296-8_4seq1.xml · nonDerivative · entry 4

Carman James · CIK 0001804013 · President, Houston Region

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 23,881

F4 · shares: Represents shares of performance-based restricted stock granted on February 3, 2026 under the Issuer's 2025 Equity Incentive Plan, which cliff vest, if at all, on December 31, 2028 based upon achievement of certain performance metrics.

SEC source: 0001104659-26-011061 · tm265296-8_4seq1.xml · nonDerivative · entry 3

Carman James · CIK 0001804013 · President, Houston Region

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 20,914

F3 · shares: Represents shares of time-based restricted stock granted on February 3, 2026 under the Issuer's 2025 Equity Incentive Plan, with one-third (1/3) of the total number of shares granted vesting on the following dates: February 3, 2027, December 31, 2027 and December 31, 2028.

SEC source: 0001104659-26-011061 · tm265296-8_4seq1.xml · nonDerivative · entry 2

Carman James · CIK 0001804013 · President, Houston Region

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 17,947

F2 · shares: Represents shares of common stock withheld by the Issuer to satisfy certain tax withholding obligations upon the vesting of the 2023 RSUs. No shares were sold by the reporting person.

SEC source: 0001104659-26-011061 · tm265296-8_4seq1.xml · nonDerivative · entry 1

Carman James · CIK 0001804013 · President, Houston Region

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 19,167

F1 · shares: As previously reported, on March 23, 2023, the Reporting Person was granted performance-based restricted shares (the "2023 RSUs"), and, based on the Company's adjusted net asset value growth ("NAV") over a three-year term ended on December 31, 2025 (the "Measurement Period"), the actual number of 2023 RSUs earned could range from 0% to 200% of target 2023 RSUs. On February 3, 2026, the Compensation Committee (the "Committee") of the Board of Directors of the Issuer approved the Company's NAV as of December 31, 2025 for purposes of the 2023 RSUs and, accordingly, certified the achievement of the pre-established performance targets at 200% for the Measurement Period. As a result of the Committee's certification, the vesting of an additional 2,258 shares of common stock was approved.

SEC source: 0001104659-26-011053 · tm265296-3_4seq1.xml · nonDerivative · entry 4

Olea Carlos A. · CIK 0001905411 · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 67,996

F4 · shares: Represents shares of performance-based restricted stock granted on February 3, 2026 under the Issuer's 2025 Equity Incentive Plan, which cliff vest, if at all, on December 31, 2028 based upon achievement of certain performance metrics.

SEC source: 0001104659-26-011053 · tm265296-3_4seq1.xml · nonDerivative · entry 3

Olea Carlos A. · CIK 0001905411 · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 51,806

F3 · shares: Represents shares of time-based restricted stock granted on February 3, 2026 under the Issuer's 2025 Equity Incentive Plan, with one-third (1/3) of the total number of shares granted vesting on the following dates: February 3, 2027, December 31, 2027 and December 31, 2028.

SEC source: 0001104659-26-011053 · tm265296-3_4seq1.xml · nonDerivative · entry 2

Olea Carlos A. · CIK 0001905411 · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 47,759

F2 · shares: Represents shares of common stock withheld by the Issuer to satisfy certain tax withholding obligations upon the vesting of the 2023 RSUs. No shares were sold by the reporting person.

SEC source: 0001104659-26-011053 · tm265296-3_4seq1.xml · nonDerivative · entry 1

Olea Carlos A. · CIK 0001905411 · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 51,628

F1 · shares: As previously reported, on March 23, 2023, the Reporting Person was granted performance-based restricted shares (the "2023 RSUs"), and, based on the Company's adjusted net asset value growth ("NAV") over a three-year term ended on December 31, 2025 (the "Measurement Period"), the actual number of 2023 RSUs earned could range from 0% to 200% of target 2023 RSUs. On February 3, 2026, the Compensation Committee (the "Committee") of the Board of Directors of the Issuer approved the Company's NAV as of December 31, 2025 for purposes of the 2023 RSUs and, accordingly, certified the achievement of the pre-established performance targets at 200% for the Measurement Period. As a result of the Committee's certification, the vesting of an additional 7,153 shares of common stock was approved.

SEC source: 0001104659-26-000689 · tm261865-1_4seq1.xml · nonDerivative · entry 1

Davis Andrew D. · CIK 0002061033 · See Remarks

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 19,646

F1 · shares: Represents shares of common stock withheld by the Issuer to satisfy certain tax withholding obligations upon the vesting of shares of restricted stock previously granted to the reporting person. The grants of such shares were previously reported and made under the Issuer's Amended and Restated 2020 Incentive Plan. No shares were sold by the reporting person.

SEC source: 0001104659-26-000714 · tm261865-7_4seq1.xml · nonDerivative · entry 1

Smith Kristi · CIK 0001992469 · Regional President, Columbia

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 20,513

F1 · shares: Represents shares of common stock withheld by the Issuer to satisfy certain tax withholding obligations upon the vesting of shares of restricted stock previously granted to the reporting person. The grants of such shares were previously reported and made under the Issuer's Amended and Restated 2020 Incentive Plan. No shares were sold by the reporting person.

SEC source: 0001104659-26-000696 · tm261865-3_4seq1.xml · nonDerivative · entry 1

Johnstone Douglas · CIK 0001804382 · See Remarks

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 18,750

F1 · shares: Represents shares of common stock withheld by the Issuer to satisfy certain tax withholding obligations upon the vesting of shares of restricted stock previously granted to the reporting person. The grants of such shares were previously reported and made under the Issuer's Amended and Restated 2020 Incentive Plan. No shares were sold by the reporting person.

SEC source: 0001104659-26-000700 · tm261865-4_4seq1.xml · nonDerivative · entry 1

O'Reilly David R. · CIK 0001532404 · Director · Director and CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 139,102

F1 · shares: Represents shares of common stock withheld by the Issuer to satisfy certain tax withholding obligations upon the vesting of shares of restricted stock previously granted to the reporting person. The grants of such shares were previously reported and made under the Issuer's Amended and Restated 2020 Incentive Plan. No shares were sold by the reporting person.

SEC source: 0001104659-26-000708 · tm261865-6_4seq1.xml · nonDerivative · entry 1

Verbinskaya Elena · CIK 0001728423 · Chief Accounting Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 6,357

F1 · shares: Represents shares of common stock withheld by the Issuer to satisfy certain tax withholding obligations upon the vesting of shares of restricted stock previously granted to the reporting person. The grants of such shares were previously reported and made under the Issuer's Amended and Restated 2020 Incentive Plan. No shares were sold by the reporting person.

SEC source: 0001104659-26-000704 · tm261865-5_4seq1.xml · nonDerivative · entry 1

Carman James · CIK 0001804013 · See Remarks

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 16,909

F1 · shares: Represents shares of common stock withheld by the Issuer to satisfy certain tax withholding obligations upon the vesting of shares of restricted stock previously granted to the reporting person. The grants of such shares were previously reported and made under the Issuer's Amended and Restated 2020 Incentive Plan. No shares were sold by the reporting person.

SEC source: 0001104659-26-000694 · tm261865-2_4seq1.xml · nonDerivative · entry 1

Olea Carlos A. · CIK 0001905411 · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 44,475

F1 · shares: Represents shares of common stock withheld by the Issuer to satisfy certain tax withholding obligations upon the vesting of shares of restricted stock previously granted to the reporting person. The grants of such shares were previously reported and made under the Issuer's Amended and Restated 2020 Incentive Plan. No shares were sold by the reporting person.

SEC source: 0001104659-25-124903 · tm2534412-1_4seq1.xml · nonDerivative · entry 1

SELLERS R SCOT · CIK 0001195979 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 67,517

F1 · shares: Represents a weighted average purchase price. The shares were purchased in multiple transactions at prices ranges from $77.94 to $77.97, inclusive. The reporting person undertakes to provide to Howard Hughes Holdings Inc., any security holder of Howard Hughes Holdings Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each transaction price within the range set forth above.

SEC source: 0001104659-25-117782 · tm2532566-1_4seq1.xml · nonDerivative · entry 1

O'Reilly David R. · CIK 0001532404 · Director · Director and CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 144,166

F1 · shares: Represents shares of common stock withheld by the Issuer to satisfy certain tax withholding obligations upon the vesting of time-based shares of restricted stock previously granted to the reporting person. The grants of such shares were previously reported and made under the Issuer's Amended and Restated 2020 Incentive Plan. No shares were sold by the reporting person.

SEC source: 0001104659-25-117381 · tm2532454-1_4seq1.xml · nonDerivative · entry 1

Tighe Mary Ann · CIK 0001533211 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 13,495

F1 · price: Represents a weighted average purchase price. The shares were purchased in multiple transactions at prices ranges from $87.98 to $89.20, inclusive. The reporting person undertakes to provide to Howard Hughes Holdings Inc., any security holder of Howard Hughes Holdings Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each transaction price within the range set forth above.

F2 · ownership.nature: This transaction involved a sale of securities by Ms. Tighe's husband, who shares Ms. Tighe's household. Ms. Tighe may be deemed to be the beneficial owner of the shares of common stock of Howard Hughes Holdings Inc. owned by her husband.

SEC source: 0000929638-25-004090 · form4.xml · nonDerivative · entry 1

Lachman Thomas Cecil · CIK 0002092589 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,464

F1 · shares: Represents restricted stock granted to non-employee directors pursuant to the Issuer's 2025 Equity Incentive Plan. The shares vest on the earlier of one year from the date of grant or the day of the Issuer's 2026 annual meeting of stockholders (but not less than 50 weeks).

SEC source: 0000929638-25-004089 · form4.xml · nonDerivative · entry 1

PANUCCIO SUSAN · CIK 0001699937 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,464

F1 · shares: Represents restricted stock granted to non-employee directors pursuant to the Issuer's 2025 Equity Incentive Plan. The shares vest on the earlier of one year from the date of grant or the day of the Issuer's 2026 annual meeting of stockholders (but not less than 50 weeks).

SEC source: 0001104659-25-097560 · tm2528188-1_4seq1.xml · nonDerivative · entry 1

Williams Anthony · CIK 0001387907 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 8,102

SEC source: 0000929638-25-002299 · form4.xml · nonDerivative · entry 1

Wautier Jean-Baptiste Robert Bernard · CIK 0002069840 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,094

F1 · shares: Represents restricted stock granted to non-employee directors pursuant to the Issuer's 2020 Equity Incentive Plan. The shares vest on the earlier of the 2026 annual meeting of stockholders of Howard Hughes Holdings Inc. or June 1, 2026.

SEC source: 0001104659-25-062594 · tm2518785-2_4seq1.xml · nonDerivative · entry 1

KAPLAN BETH J · CIK 0001247154 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 16,689

F1 · shares: Represents restricted stock granted to non-employee directors pursuant to the Issuer's 2020 Equity Incentive Plan. The shares vest on the earlier of the 2026 annual meeting of stockholders of Howard Hughes Holdings Inc. or June 1, 2026.

SEC source: 0001104659-25-062602 · tm2518785-6_4seq1.xml · nonDerivative · entry 1

SHEPSMAN STEVEN H · CIK 0001188247 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 29,473

F1 · shares: Represents restricted stock granted to non-employee directors pursuant to the Issuer's 2020 Equity Incentive Plan. The shares vest on the earlier of the 2026 annual meeting of stockholders of Howard Hughes Holdings Inc. or June 1, 2026.

SEC source: 0001104659-25-062601 · tm2518785-5_4seq1.xml · nonDerivative · entry 1

SELLERS R SCOT · CIK 0001195979 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 62,517

F1 · shares: Represents restricted stock granted to non-employee directors pursuant to the Issuer's 2020 Equity Incentive Plan. The shares vest on the earlier of the 2026 annual meeting of stockholders of Howard Hughes Holdings Inc. or June 1, 2026.

SEC source: 0001104659-25-062592 · tm2518785-1_4seq1.xml · nonDerivative · entry 1

Williams Anthony · CIK 0001387907 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 9,202

F1 · shares: Represents restricted stock granted to non-employee directors pursuant to the Issuer's 2020 Equity Incentive Plan. The shares vest on the earlier of the 2026 annual meeting of stockholders of Howard Hughes Holdings Inc. or June 1, 2026.

SEC source: 0001104659-25-062597 · tm2518785-4_4seq1.xml · nonDerivative · entry 1

Tighe Mary Ann · CIK 0001533211 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 34,081

F1 · shares: Represents restricted stock granted to non-employee directors pursuant to the Issuer's 2020 Equity Incentive Plan. The shares vest on the earlier of the 2026 annual meeting of stockholders of Howard Hughes Holdings Inc. or June 1, 2026.

SEC source: 0001104659-25-062596 · tm2518785-3_4seq1.xml · nonDerivative · entry 1

Eun David · CIK 0001979862 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 6,430

F1 · shares: Represents restricted stock granted to non-employee directors pursuant to the Issuer's 2020 Equity Incentive Plan. The shares vest on the earlier of the 2026 annual meeting of stockholders of Howard Hughes Holdings Inc. or June 1, 2026.

SEC source: 0000929638-25-001980 · form4.xml · nonDerivative · entry 1

Bustamante Jose Miguel · CIK 0002046665 · President, Nevada

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 7,270

SEC source: 0001140361-25-017782 · form4.xml · nonDerivative · entry 2

Pershing Square Capital Management, L.P. · CIK 0001336528 · Director · 10% owner

PERSHING SQUARE HOLDCO, L.P. · CIK 0002026053 · Director · 10% owner

Pershing Square Holdco GP, LLC · CIK 0002027508 · Director · 10% owner

PS Holdco GP Managing Member LLC · CIK 0002027456 · Director · 10% owner

ACKMAN WILLIAM A · CIK 0001056513 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 59,393,938

F6 · kind: These Subject Securities are not held by the Reporting Persons. However, pursuant to a Services Agreement, dated May 5, 2025, by and between PSCM and the Issuer, PSCM is entitled to a fee for services determined in part by reference to the increase, if any, in the price of a number of shares of Common Stock of the Issuer (the "Reference Securities") above $66.1453 per share, as described in greater detail in Howard Hughes Holding Inc.'s Form 8-K filed on May 6, 2025. Pursuant to Rule 16a-1(a) under the Exchange Act, PSCM's interest under the Services Agreement may be deemed to be a performance-related fee with respect to, and therefore beneficial ownership of, the Reference Securities. As of the date of this Form 4, the number of Reference Securities is 59,393,938. As with the other Subject Securities, each of the Reporting Persons disclaims any beneficial ownership of any of the Reference Securities, except to the extent of any pecuniary interest therein.

F6 · price: These Subject Securities are not held by the Reporting Persons. However, pursuant to a Services Agreement, dated May 5, 2025, by and between PSCM and the Issuer, PSCM is entitled to a fee for services determined in part by reference to the increase, if any, in the price of a number of shares of Common Stock of the Issuer (the "Reference Securities") above $66.1453 per share, as described in greater detail in Howard Hughes Holding Inc.'s Form 8-K filed on May 6, 2025. Pursuant to Rule 16a-1(a) under the Exchange Act, PSCM's interest under the Services Agreement may be deemed to be a performance-related fee with respect to, and therefore beneficial ownership of, the Reference Securities. As of the date of this Form 4, the number of Reference Securities is 59,393,938. As with the other Subject Securities, each of the Reporting Persons disclaims any beneficial ownership of any of the Reference Securities, except to the extent of any pecuniary interest therein.

F1 · ownership.nature: In addition to Pershing Square Capital Management, L.P., a Delaware limited partnership ("PSCM"), this Form 4 is being filed jointly by Pershing Square Holdco, L.P., a Delaware limited partnership ("PS Holdco"), Pershing Square Holdco GP, LLC, a Delaware limited liability company ("PS Holdco GP"), PS Holdco GP Managing Member, LLC, a Delaware limited liability company ("ManagementCo"), and William A. Ackman, a citizen of the United States of America (collectively, the "Reporting Persons"), each of whom has the same business address as PSCM and may be deemed to beneficially own the equity securities of the Issuer reported on this Form 4 (the "Subject Securities").

F2 · ownership.nature: PSCM advises the accounts of Pershing Square, L.P., a Delaware limited partnership ("PSLP"), Pershing Square International, Ltd., a Cayman Islands exempted company ("PSI"), and Pershing Square Holdings, Ltd., a limited liability company incorporated in Guernsey ("PSH" and together with PSLP and PSI, the "Pershing Square Affiliated Funds").

F3 · ownership.nature: (A) PSCM, as the investment adviser to the Pershing Square Affiliated Funds (and other than with respect to Subject Securities held directly by PS Holdco), (B) PS Holdco, as the indirect 100% holding company of PSCM, (C) PS Holdco GP, as the sole general partner of PS Holdco, and (D) ManagementCo, as the sole member of PS Holdco GP, may each be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934 (the "Exchange Act"). By virtue of Mr. Ackman's position as (i) the Chief Executive Officer of PSCM, (ii) a director of PS Holdco GP and (iii) a member of ManagementCo, Mr. Ackman may be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a) under the Exchange Act. Each of the Reporting Persons disclaims any beneficial ownership of any of the Subject Securities, except to the extent of any pecuniary interest therein.

F4 · ownership.nature: Mr. Ackman, Mr. Ben Hakim and Mr. Ryan Israel, each a member of the board of directors of the Issuer of the Subject Securities, were appointed or elected to that board as representatives of the Reporting Persons and the Pershing Square Affiliated Funds. As a result, each of those persons are directors by deputization for purposes of Section 16 of the Exchange Act.

F6 · ownership.nature: These Subject Securities are not held by the Reporting Persons. However, pursuant to a Services Agreement, dated May 5, 2025, by and between PSCM and the Issuer, PSCM is entitled to a fee for services determined in part by reference to the increase, if any, in the price of a number of shares of Common Stock of the Issuer (the "Reference Securities") above $66.1453 per share, as described in greater detail in Howard Hughes Holding Inc.'s Form 8-K filed on May 6, 2025. Pursuant to Rule 16a-1(a) under the Exchange Act, PSCM's interest under the Services Agreement may be deemed to be a performance-related fee with respect to, and therefore beneficial ownership of, the Reference Securities. As of the date of this Form 4, the number of Reference Securities is 59,393,938. As with the other Subject Securities, each of the Reporting Persons disclaims any beneficial ownership of any of the Reference Securities, except to the extent of any pecuniary interest therein.

SEC source: 0001140361-25-017782 · form4.xml · nonDerivative · entry 1

Pershing Square Capital Management, L.P. · CIK 0001336528 · Director · 10% owner

PERSHING SQUARE HOLDCO, L.P. · CIK 0002026053 · Director · 10% owner

Pershing Square Holdco GP, LLC · CIK 0002027508 · Director · 10% owner

PS Holdco GP Managing Member LLC · CIK 0002027456 · Director · 10% owner

ACKMAN WILLIAM A · CIK 0001056513 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 9,000,000

F1 · ownership.nature: In addition to Pershing Square Capital Management, L.P., a Delaware limited partnership ("PSCM"), this Form 4 is being filed jointly by Pershing Square Holdco, L.P., a Delaware limited partnership ("PS Holdco"), Pershing Square Holdco GP, LLC, a Delaware limited liability company ("PS Holdco GP"), PS Holdco GP Managing Member, LLC, a Delaware limited liability company ("ManagementCo"), and William A. Ackman, a citizen of the United States of America (collectively, the "Reporting Persons"), each of whom has the same business address as PSCM and may be deemed to beneficially own the equity securities of the Issuer reported on this Form 4 (the "Subject Securities").

F2 · ownership.nature: PSCM advises the accounts of Pershing Square, L.P., a Delaware limited partnership ("PSLP"), Pershing Square International, Ltd., a Cayman Islands exempted company ("PSI"), and Pershing Square Holdings, Ltd., a limited liability company incorporated in Guernsey ("PSH" and together with PSLP and PSI, the "Pershing Square Affiliated Funds").

F3 · ownership.nature: (A) PSCM, as the investment adviser to the Pershing Square Affiliated Funds (and other than with respect to Subject Securities held directly by PS Holdco), (B) PS Holdco, as the indirect 100% holding company of PSCM, (C) PS Holdco GP, as the sole general partner of PS Holdco, and (D) ManagementCo, as the sole member of PS Holdco GP, may each be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934 (the "Exchange Act"). By virtue of Mr. Ackman's position as (i) the Chief Executive Officer of PSCM, (ii) a director of PS Holdco GP and (iii) a member of ManagementCo, Mr. Ackman may be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a) under the Exchange Act. Each of the Reporting Persons disclaims any beneficial ownership of any of the Subject Securities, except to the extent of any pecuniary interest therein.

F4 · ownership.nature: Mr. Ackman, Mr. Ben Hakim and Mr. Ryan Israel, each a member of the board of directors of the Issuer of the Subject Securities, were appointed or elected to that board as representatives of the Reporting Persons and the Pershing Square Affiliated Funds. As a result, each of those persons are directors by deputization for purposes of Section 16 of the Exchange Act.

F5 · ownership.nature: These Subject Securities are held by PS Holdco.

SEC source: 0001104659-25-031792 · tm2511418-1_4seq1.xml · nonDerivative · entry 1

Valane Joseph · CIK 0002016203 · General Counsel & Secretary

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 17,189

F1 · shares: Represents shares of common stock withheld by the Issuer to satisfy certain tax withholding obligations upon the vesting of time-based shares of restricted stock previously granted to the reporting person. The grants of such shares were previously reported and made under the Issuer's Amended and Restated 2020 Incentive Plan. No shares were sold by the reporting person.

SEC source: 0001104659-25-010658 · tm255763-10_4seq1.xml · nonDerivative · entry 2

Bustamante Jose Miguel · CIK 0002046665 · President, Nevada

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 6,570

F2 · shares: Represents shares of performance-based restricted stock granted on February 5, 2025 under the Issuer's 2020 Equity Incentive Plan, which cliff vest, if at all, on December 31, 2027 based upon achievement of certain performance metrics.

SEC source: 0001104659-25-010658 · tm255763-10_4seq1.xml · nonDerivative · entry 1

Bustamante Jose Miguel · CIK 0002046665 · President, Nevada

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 3,285

F1 · shares: Represents shares of time-based restricted stock granted on February 5, 2025 under the Issuer's 2020 Equity Incentive Plan, with one-third (1/3) of the total number of shares granted vesting on the following dates: February 5, 2026, December 31, 2026 and December 31, 2027.

SEC source: 0001104659-25-010643 · tm255763-2_4seq1.xml · nonDerivative · entry 2

Freericks Charles James Jr. · CIK 0002034796 · President, Arizona

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 6,586

F2 · shares: Represents shares of performance-based restricted stock granted on February 5, 2025 under the Issuer's 2020 Equity Incentive Plan, which cliff vest, if at all, on December 31, 2027 based upon achievement of certain performance metrics.

SEC source: 0001104659-25-010643 · tm255763-2_4seq1.xml · nonDerivative · entry 1

Freericks Charles James Jr. · CIK 0002034796 · President, Arizona

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 3,293

F1 · shares: Represents shares of time-based restricted stock granted on February 5, 2025 under the Issuer's 2020 Equity Incentive Plan, with one-third (1/3) of the total number of shares granted vesting on the following dates: February 5, 2026, December 31, 2026 and December 31, 2027.

SEC source: 0001104659-25-010657 · tm255763-9_4seq1.xml · nonDerivative · entry 2

Valane Joseph · CIK 0002016203 · General Counsel & Secretary

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 17,825

F3 · shares: Represents shares of performance-based restricted stock granted on February 5, 2025 under the Issuer's 2020 Equity Incentive Plan, which cliff vest, if at all, on December 31, 2027 based upon achievement of certain performance metrics.

SEC source: 0001104659-25-010657 · tm255763-9_4seq1.xml · nonDerivative · entry 1

Valane Joseph · CIK 0002016203 · General Counsel & Secretary

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 12,885

F1 · shares: Represents shares of time-based restricted stock granted on February 5, 2025 under the Issuer's 2020 Equity Incentive Plan, with one-third (1/3) of the total number of shares granted vesting on the following dates: February 5, 2026, December 31, 2026 and December 31, 2027.

F2 · balance_after: Amount reflects the conversion of unvested shares of restricted stock of the Issuer held by the Reporting Person prior to the separation of Seaport Entertainment Group Inc. from the Issuer on July 31, 2024.

SEC source: 0001104659-25-010647 · tm255763-3_4seq1.xml · nonDerivative · entry 2

Striph David Michael · CIK 0001813027 · See Remarks

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 11,538

F2 · shares: Represents shares of performance-based restricted stock granted on February 5, 2025 under the Issuer's 2020 Equity Incentive Plan, which cliff vest, if at all, on December 31, 2027 based upon achievement of certain performance metrics.

SEC source: 0001104659-25-010647 · tm255763-3_4seq1.xml · nonDerivative · entry 1

Striph David Michael · CIK 0001813027 · See Remarks

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 9,562

F1 · shares: Represents shares of time-based restricted stock granted on February 5, 2025 under the Issuer's 2020 Equity Incentive Plan, with one-third (1/3) of the total number of shares granted vesting on the following dates: February 5, 2026, December 31, 2026 and December 31, 2027.

SEC source: 0001104659-25-010650 · tm255763-5_4seq1.xml · nonDerivative · entry 2

Johnstone Douglas · CIK 0001804382 · Regional President, Hawaii

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 19,366

F2 · shares: Represents shares of performance-based restricted stock granted on February 5, 2025 under the Issuer's 2020 Equity Incentive Plan, which cliff vest, if at all, on December 31, 2027 based upon achievement of certain performance metrics.

SEC source: 0001104659-25-010650 · tm255763-5_4seq1.xml · nonDerivative · entry 1

Johnstone Douglas · CIK 0001804382 · Regional President, Hawaii

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 15,414

F1 · shares: Represents shares of time-based restricted stock granted on February 5, 2025 under the Issuer's 2020 Equity Incentive Plan, with one-third (1/3) of the total number of shares granted vesting on the following dates: February 5, 2026, December 31, 2026 and December 31, 2027.

SEC source: 0001104659-25-010656 · tm255763-8_4seq1.xml · nonDerivative · entry 4

CROSS L JAY · CIK 0001269227 · President

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 85,590

F3 · shares: Represents shares of performance-based restricted stock granted on February 5, 2025 under the Issuer's 2020 Equity Incentive Plan, which cliff vest, if at all, on December 31, 2027 based upon achievement of certain performance metrics.

SEC source: 0001104659-25-010656 · tm255763-8_4seq1.xml · nonDerivative · entry 3

CROSS L JAY · CIK 0001269227 · President

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 70,440

F2 · shares: Represents shares of time-based restricted stock granted on February 5, 2025 under the Issuer's 2020 Equity Incentive Plan, with one-third (1/3) of the total number of shares granted vesting on the following dates: February 5, 2026, December 31, 2026 and December 31, 2027.

SEC source: 0001104659-25-010656 · tm255763-8_4seq1.xml · nonDerivative · entry 2

CROSS L JAY · CIK 0001269227 · President

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 55,290

F1 · shares: Represents shares of common stock withheld by the Issuer to satisfy certain tax withholding obligations upon the vesting of time-based shares of restricted stock previously granted to the reporting person. The grants of such shares were previously reported and made under the Issuer's Amended and Restated 2020 Incentive Plan. No shares were sold by the reporting person.

SEC source: 0001104659-25-010648 · tm255763-4_4seq1.xml · nonDerivative · entry 3

O'Reilly David R. · CIK 0001532404 · Director and CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 146,785

F3 · shares: Represents shares of performance-based restricted stock granted on February 5, 2025 under the Issuer's 2020 Equity Incentive Plan, which cliff vest, if at all, on December 31, 2027 based upon achievement of certain performance metrics.

SEC source: 0001104659-25-010648 · tm255763-4_4seq1.xml · nonDerivative · entry 2

O'Reilly David R. · CIK 0001532404 · Director and CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 115,556

F2 · shares: Represents shares of time-based restricted stock granted on February 5, 2025 under the Issuer's 2020 Equity Incentive Plan, with one-third (1/3) of the total number of shares granted vesting on the following dates: February 5, 2026, December 31, 2026 and December 31, 2027.

SEC source: 0001104659-25-010648 · tm255763-4_4seq1.xml · nonDerivative · entry 1

O'Reilly David R. · CIK 0001532404 · Director and CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 85,916

F1 · shares: Represents shares of common stock withheld by the Issuer to satisfy certain tax withholding obligations upon the vesting of time-based shares of restricted stock previously granted to the reporting person. The grants of such shares were previously reported and made under the Issuer's Amended and Restated 2020 Incentive Plan. No shares were sold by the reporting person.

SEC source: 0001104659-25-010652 · tm255763-6_4seq1.xml · nonDerivative · entry 2

Verbinskaya Elena · CIK 0001728423 · Chief Accounting Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 6,453

F2 · shares: Represents shares of performance-based restricted stock granted on February 5, 2025 under the Issuer's 2020 Equity Incentive Plan, which cliff vest, if at all, on December 31, 2027 based upon achievement of certain performance metrics.