0001415889-23-005717.txt : 20230331 0001415889-23-005717.hdr.sgml : 20230331 20230331203902 ACCESSION NUMBER: 0001415889-23-005717 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20230320 FILED AS OF DATE: 20230331 DATE AS OF CHANGE: 20230331 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Alvarado Marcos CENTRAL INDEX KEY: 0001516720 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-15371 FILM NUMBER: 23790067 MAIL ADDRESS: STREET 1: 591 WEST PUTNAM AVENUE CITY: GREENWICH STATE: CT ZIP: 06830 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: ISTAR INC. CENTRAL INDEX KEY: 0001095651 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 956881527 FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 1114 AVENUE OF THE AMERICAS STREET 2: 39TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10036 BUSINESS PHONE: 2129309400 MAIL ADDRESS: STREET 1: 1114 AVENUE OF THE AMERICAS STREET 2: 39TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10036 FORMER COMPANY: FORMER CONFORMED NAME: ISTAR FINANCIAL INC DATE OF NAME CHANGE: 20000501 FORMER COMPANY: FORMER CONFORMED NAME: STARWOOD FINANCIAL INC DATE OF NAME CHANGE: 19990923 4 1 form4-04012023_120454.xml X0407 4 2023-03-20 0001095651 ISTAR INC. SAFE 0001516720 Alvarado Marcos 1114 AVENUE OF THE AMERICAS 39TH FLOOR NEW YORK NY 10036 true true false false PRESIDENT & CIO 0 Common Stock 2023-03-31 4 A 0 58500 0 A 619530 D Common Stock 2023-03-31 4 F 0 32350 0 D 619530 D Common Stock 2023-03-20 4 A 0 681913 0 A 619530 D Common Stock 2023-03-20 4 F 0 147688 0 D 619530 D Restricted Stock Units 2023-03-31 4 A 0 173064 0 A 173064 D Common Stock 2023-03-31 4 A 0 13089 0 A 619530 D Common Stock 2023-03-31 4 F 0 7238 0 D 619530 D Common Stock 2023-03-31 4 A 0 6263 0 A 619530 D Common Stock 2023-03-31 4 F 0 3463 0 D 619530 D On March 31, 2023, the merger (the "Merger") of Safehold Inc. ("Safe") with and into iStar Inc. ("iStar") closed, with iStar Inc. surviving the Merger and changing its name to Safehold Inc. ("New SAFE"; NYSE: SAFE). In the Merger and related transactions, (1) each outstanding share of common stock of Safe was converted into one share of common stock of New SAFE, and (2) each outstanding share of common stock of iStar was reverse split and converted into 0.160 of a share of common stock of New SAFE. The amount of securities beneficially owned following the reported transactions represents the shares of New SAFE common stock owned on March 31, 2023, the Merger closing date. Retention Bonus: On March 31, 2023, in connection with the Merger, the Reporting Person was granted a retention bonus of 58,500 shares of common stock of Safe. After deducting shares for applicable tax withholding, the Reporting Person received 26,150 shares of common stock of Safe, which as described above were converted into one share of common stock of New SAFE in the merger and are reported on an as-converted basis in amounts of New SAFE shares. iPIP: The Reporting Person was issued 681,913 shares of common stock of Safe on March 20, 2023, subject to stop transfer restrictions, in connection with termination of the iStar Inc. Performance Incentive Plan ("iPIP") and distributions made to iPIP participants pursuant to the Merger. After deducting shares for applicable tax withholding, the Reporting Person received 534,225 shares of common stock of Safe, which as described above were converted into shares of common stock of New SAFE pursuant to the Merger and are reported on an as-converted basis in amounts of New SAFE shares. New SAFE RSUs: The Reporting Person has been granted 173,064 restricted stock units (Units), representing the right to receive an equivalent number of shares of common stock of New SAFE (net of applicable taxes and other withholdings) if and when the Units vest. The Units will vest proportionately over four years in annual installments , subject to the Reporting Person's continuing employment through each vesting date. Accelerated RSUs: On March 31, 2023, in connection with the Merger, the Reporting Person was issued 81,087 shares of common stock of iStar upon the accelerated vesting of awards of restricted stock units. After deducting shares for applicable tax withholding, the Reporting Person received 36,568 shares of common stock of iStar, which as described above were reverse split and converted into 0.160 of a share of common stock of New SAFE and are reported on an as-converted basis in amounts of New SAFE shares. Special Dividend on Accelerated RSUs: On March 31, 2023, in connection with the Merger, the Reporting Person was issued 6,263 shares of common stock of Safe as an accrued special dividend on the iStar shares issued upon the accelerated vesting of restricted stock units. After deducting shares for applicable tax withholding, the Reporting Person received 2,800 shares of common stock of Safe, which as described above were converted into one share of common stock of New SAFE in the merger and are reported on an as-converted basis in amounts of New SAFE shares. /s/ Marcos Alvarado 2023-03-31