SEC Form 4 · accession 0001179110-17-008022
Safehold Inc. · SAFE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Robin Josephs
Director
Period of report
May 25, 2017
Accepted (ET)
May 25, 2017 · 5:52 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 shareF1,F2 | May 16, 2017 | A | 16,233 | $0.00 | A | 16,233 | D | |
| Common Stock, par value $.001 per shareF2 | holding | — | — | — | 13,140 | I | IRA | |
| Common Stock, par value $.001 per shareF2 | holding | — | — | — | 79,244 | I | Trust | |
| Preferred Stock, 7.80% Series FF2 | holding | — | — | — | 3,030 | 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 EquivalentsF3 | $0.00 | holding | — | — | — | — | — | Common Stock | 75,513 | 75,513 | D |
Explanation of responses
- F1On May 16, 2017, the Reporting Person, Ms. Robin Josephs, was awarded a total of 16,233 restricted shares of Common Stock of iStar Inc. (NYSE:STAR) in accordance with the provisions of the iStar Inc. Non-Employee Directors' Deferral Plan (Plan), which are owned directly. These shares are restricted and may not be sold or otherwise transferred until they vest on May 16, 2018.
- F2Following this transaction, the Reporting Person is the beneficial owner of a total of 108,597 shares of iStar Common Stock, of which 16,233 shares are owned directly, 79,244 shares are owned indirectly through a revocable trust and 13,140 shares are owned indirectly through an individual retirement account established by the Reporting Person, and 3,030 shares of iStar 7.80% Series F Preferred Stock, which are owned indirectly through her individual retirement account. Following a recent review of stock records, it was discovered that previous reports filed on behalf of the Reporting Person contained certain errors in reporting the form of ownership (direct vs. indirect) and also included a computational error resulting in an immaterial error in total ownership reported. These errors are corrected in this Form 4.
- F3The Reporting Person also holds a total of 75,513 Common Stock Equivalents (CSEs) awarded pursuant to the Plan, all of which are vested. Under the Plan, on the regular distribution date, vested CSEs will be settled by the transfer of shares of iStar Common Stock to the participant. The "regular distribution date" for distributions to Plan 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.