UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
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Securities
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Item 5.02 Departure of Directors or Certain Officers; Compensatory Arrangements of Certain Officers
On July 30, 2026, J.W. Mays, Inc. (the “Company”) entered into a transition agreement with Ward Lyke, Jr. (the “Transition Agreement”), which provides for, among other things, the continued employment of Mr. Lyke as Vice President, Chief Financial Officer, and Treasurer through September 25, 2026 (the “Separation Date”), at which time Mr. Lyke will step down from such role and resign from the Company. Mr. Lyke’s departure from the Company is not related to any disagreements with the Company.
In addition to extending Mr. Lyke’s employment agreement term through the Separation Date to facilitate an orderly transition of his duties and responsibilities, the Transition Agreement provides that the Company will continue to pay Mr. Lyke his base salary at the rate of $316,000 until the Separation Date. Assuming that Mr. Lyke remains employed in good standing through the Separation Date, the Company will offer Mr. Lyke certain separation-related benefits, including six weeks of base salary, in exchange for him signing and not revoking his acceptance of an Agreement and General Release, which shall be provided to Mr. Lyke on or shortly after the Separation Date.
Kevin Guptar, the Company’s current Controller, will serve as the Company’s Principal Financial Officer and Principal Accounting Officer effective immediately upon Mr. Lyke’s separation.
The foregoing description does not purport to be complete and is qualified in its entirety by reference to the Transition Agreement, a copy of which is attached hereto as Exhibit 10.1 and incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. |
Description | |
| 10.1 | Transition Agreement, dated July 30, 2026, between J.W. Mays, Inc. and Ward N. Lyke, Jr. | |
| 104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| J. W. Mays, Inc. | ||
| Date: July 30, 2026 | By: | /s/ Lloyd Shulman |
| Name: | Lloyd J. Shulman | |
| Title: | Chairman of the Board, Chief Executive Officer, and President | |