0000054187 2025-08-01 2026-07-31 0000054187 2024-08-01 2025-07-31 0000054187 2023-08-01 2024-07-31 iso4217:USD false 0000054187 DEF 14A MAYS J W INC true PAY VERSUS PERFORMANCE As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) and Item 402(v) of Regulation S-K, we are providing the following information about the relationship between executive compensation and certain financial performance of our Company. The disclosure included in this section is prescribed by SEC rules and does not necessarily align with how the Company or the compensation committee view the link between the Company’s performance and its named executive officer (“NEOs”) pay. The table below presents information on the compensation of our principal executive officer (“PEO”) and our other NEOs in comparison to certain performance metrics for the fiscal years ended July 31, 2026, 2025, and 2024. The metrics are not those that the compensation committee uses when setting executive compensation. The use of the term “compensation actually paid” (“CAP”) is required and defined by the SEC’s rules. For the Company, CAP is calculated the same as total compensation. <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">Fiscal Year</td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">Summary Compensation Table Total for PEO(1)(2)</td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">Compensation Actually Paid to PEO(3)</td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">Average Summary Compensation Table Total for Non-PEO NEOs(1)(2)</td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">Average Compensation Actually Paid to Non-PEO NEOs(4)</td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">Value of Initial Fixed $100 Investment Based on Total Shareholder Returns(5)</td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">Company Net Loss for the Year(6)</td><td style="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: Silver"> <td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; width: 13%; text-align: center">2026</td><td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_983_eecd--PeoTotalCompAmt_c20250801__20260731_z6VgwcjA5F65" style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">345,150</td><td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_984_eecd--PeoActuallyPaidCompAmt_c20250801__20260731_zwKKxGJmfGj7" style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">345,150</td><td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_984_eecd--NonPeoNeoAvgTotalCompAmt_c20250801__20260731_zGJNgzpcRyvi" style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; width: 11%; text-align: right">366,091</td><td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_980_eecd--NonPeoNeoAvgCompActuallyPaidAmt_c20250801__20260731_znBxyK06XAYj" style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; width: 11%; text-align: right">366,091</td><td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_984_eecd--TotalShareholderRtnAmt_pp2d_c20250801__20260731_z11G8NSXz9O8" style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; width: 11%; text-align: right">85.34</td><td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_98E_eus-gaap--NetIncomeLoss_c20250801__20260731_zl0R3H0pGGbc" style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; width: 11%; text-align: right">(1,399,536</td><td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; text-align: center">2025</td><td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_981_eecd--PeoTotalCompAmt_c20240801__20250731_zhWoIOFSWKB2" style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; text-align: right">390,228</td><td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_989_eecd--PeoActuallyPaidCompAmt_c20240801__20250731_zpTRzJBNK78f" style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; text-align: right">390,228</td><td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_98C_eecd--NonPeoNeoAvgTotalCompAmt_c20240801__20250731_zxyFpW9SFGyb" style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; text-align: right">386,932</td><td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_98A_eecd--NonPeoNeoAvgCompActuallyPaidAmt_c20240801__20250731_zf46kuLOymw6" style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; text-align: right">386,932</td><td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_98E_eecd--TotalShareholderRtnAmt_pp2d_c20240801__20250731_ziQ06tTEAVp2" style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; text-align: right">91.52</td><td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_98C_eus-gaap--NetIncomeLoss_c20240801__20250731_zFO4WLKMO5Tb" style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; text-align: right">(136,240</td><td style="border-bottom: Black 1pt dotted; font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: Silver"> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_984_eecd--PeoTotalCompAmt_c20230801__20240731_zEgRA90Mkv1d" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">463,547</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_982_eecd--PeoActuallyPaidCompAmt_c20230801__20240731_z95eh0rvEgwd" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">463,547</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_986_eecd--NonPeoNeoAvgTotalCompAmt_c20230801__20240731_zB2g20tkf3Mc" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">463,773</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_989_eecd--NonPeoNeoAvgCompActuallyPaidAmt_c20230801__20240731_zyySA4nKLfe" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">463,773</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_981_eecd--TotalShareholderRtnAmt_pp2d_c20230801__20240731_zk0Dfc9mQtWc" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">114.03</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_980_eus-gaap--NetIncomeLoss_c20230801__20240731_zs9FWBilKyWc" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(406,568</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left">)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0in"></td><td style="width: 0.25in">(1)</td><td id="xdx_98B_eecd--NamedExecutiveOfficersFnTextBlock_c20250801__20260731_zYjFCSpIT4f6" style="text-align: justify">In 2026, 2025, and 2024, Lloyd J. Shulman, Chief Executive Officer and President, was the Principal Executive Officer (“PEO”). The remaining NEOs in 2026 consisted of Ward N. Lyke, Jr., Vice President - Chief Financial Officer, and George Silva, Vice President - Operations.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0in"></td><td style="width: 0.25in">(2)</td><td style="text-align: justify">Reported pay based on total compensation reported in the Summary Compensation Table.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0in"></td><td style="width: 0.25in">(3)</td><td style="text-align: justify">Represents the amount of “compensation actually paid” to the PEO, as computed in accordance with SEC rules. For the Company, CAP is calculated the same as total compensation.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0in"></td><td style="width: 0.25in">(4)</td><td style="text-align: justify">Represents the average amount of “compensation actually paid” to the NEOs as a group as computed in accordance with SEC rules. For the Company, CAP is calculated the same as total compensation. See (A) above in the Summary Compensation Table.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0in"></td><td style="width: 0.25in">(5)</td><td style="text-align: justify">Cumulative Total Shareholder Return (“TSR”) is calculated as required under Item 201(e) of Regulation S-K by dividing the sum of the cumulative amount of dividends for the measurement period (of which the Company did not declare dividends during any of the years presented), assuming dividend reinvestment, and the difference between the Company’s share price at the end and the beginning of the measurement period, by the share price at the beginning of the measurement period. The beginning of the measurement period for 2026 is July 31, 2022. The beginning of the measurement period for 2025 and 2024 is July 31, 2022, the initial base year when pay versus performance disclosure rules were first implemented.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0in"></td><td style="width: 0.25in">(6)</td><td style="text-align: justify">Represents the amount of net income (loss) as reported in the Company’s audited financial statements for the applicable year.</td></tr></table> As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) and Item 402(v) of Regulation S-K, we are providing the following information about the relationship between executive compensation and certain financial performance of our Company. The disclosure included in this section is prescribed by SEC rules and does not necessarily align with how the Company or the compensation committee view the link between the Company’s performance and its named executive officer (“NEOs”) pay. 345150 345150 366091 366091 85.34

-1399536

390228 390228 386932 386932 91.52

-136240

463547 463547 463773 463773 114.03

-406568

In 2026, 2025, and 2024, Lloyd J. Shulman, Chief Executive Officer and President, was the Principal Executive Officer (“PEO”). The remaining NEOs in 2026 consisted of Ward N. Lyke, Jr., Vice President - Chief Financial Officer, and George Silva, Vice President - Operations. Lloyd J. Shulman Lloyd J. Shulman Lloyd J. Shulman