SEC Form 4 · accession 0001179110-16-025326
Safehold Inc. · SAFE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John G McDonald
Director
Period of report
May 18, 2016
Accepted (ET)
May 23, 2016 · 4:21 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001095651
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, par value $.001 per shareF3 | holding | — | — | — | 12,000 | I | Family Trust | |
| Common Stock, par value $.001 per shareF3 | holding | — | — | — | 28,000 | I | IRA |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Common Stock EquivalentsF1,F2 | $0.00 | May 18, 2016 | A | 12,953 | A | — | — | Common Stock | 12,953 | 91,447 | D |
Explanation of responses
- F1On May 18, 2016, the Reporting Person, John G. McDonald, was awarded 12,953 Common Stock Equivalents (CSEs) in accordance with the provisions of the iStar Inc. Non-Employee Directors' Deferral Plan (Plan), which are owned directly. These CSEs will vest on December 31, 2016, subject to the provisions of the Plan. Following this award, the Reporting Person holds a total of 91,447 CSEs awarded under the Plan, all of which are held directly and 78,529 of which are currently vested.
- F2Under the Plan, on the regular distribution date, vested CSEs will be settled by the transfer of shares of iStar common stock to the participant, based upon the fair market value of iStar common stock on the date of the distribution. The "regular distribution date" for distributions to participants is the earlier of: (1) January 1 on or next following the earlier of (i) the date the participant ceases to be a non-employee director; and (ii) the date of the participant's death; and (2) a change of control (as defined in the Plan). A participant, under certain limited circumstances, is permitted to elect to receive distributions at times other than the regular distribution date.
- F3The Reporting Person is also the beneficial owner of 40,000 shares of iStar Common Stock, of which 12,000 shares are owned indirectly through a family trust and 28,000 shares are owned indirectly through an IRA established by the Reporting Person.