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Item 5.02 Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On October 13, 2026, the Board of Directors of J.W. Mays, Inc. (“Mays” or “the Company”) promoted Kevin J. Guptar to the roles of Chief Financial Officer and Treasurer. Mr. Guptar’s appointment to these roles fills the vacancy created when Mr. Guptar’s predecessor, Mr. Ward Lyke, Jr., retired as Chief Financial Officer and Treasurer on September 25, 2026. As approved by the Board, Mr. Guptar’s compensation as Chief Financial Officer and Treasurer will include an annual base salary of $232,000 and an annual discretionary bonus.
Mr. Guptar, age 46, joined Mays in November 2021 as Controller of the Company and has been integrally involved in Mays’s accounting and financial reporting functions. Mr. Guptar began serving as the Company’s Principal Financial Officer and Principal Accounting Officer, effectively immediately upon Mr. Lyke’s retirement from the Company. Before joining Mays, Mr. Guptar was the Controller of a private real estate partnership from 2017 to 2021 and held various accounting positions at the same real estate partnership from 2011 to 2014. From 2014 to 2016, Mr. Guptar served as a Finance Professional for the Metropolitan Transportation Authority. Mr. Guptar is a Certified Public Accountant in New York State.
There are no arrangements or understandings between Mr. Guptar and any other person pursuant to which he was appointed as Chief Financial Officer, Treasurer, Principal Financial Officer, and Principal Accounting Officer, and there are no family relationships between Mr. Guptar and any Director or Executive Officer of the Company. Mr. Guptar has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. As with the Company’s other Directors and Officers, Mr. Guptar is eligible for indemnification in accordance with the Company’s bylaws.
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: October 14, 2026 | By: | /s/ Lloyd J. Shulman |
| Name: | Lloyd J. Shulman | |
| Title: | Chairman of the Board, Chief Executive Officer and President | |