Safehold Inc. — Director's Dealing 2016

Mar 7, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ISTAR INC. (STAR)
CIK: 0001095651
Period of Report: 2016-03-04

Reporting Person: JOSEPHS ROBIN (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-03-04	Preferred Stock, 7.80% Series F	P	3030	$21.2129	Acquired	3030	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, par value $.001 per share	57882	Direct
Common Stock, par value $.001 per share	13140	Indirect
Common Stock, par value $.001 per share	15977	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Common Stock Equivalents	$0		Common Stock (75513)	75513	Direct

Footnotes

F1: On March 3, 2016, the Reporting Person, Ms. Robin Josephs, acquired indirect beneficial ownership of 3,030 shares of 7.80% Series F Preferred Stock of iStar Inc. (NYSE:STAR) in an open market purchase made by her individual retirement account.

F2: Following these transactions, the Reporting Person is the beneficial owner of a total of 86,999 shares of iStar Common Stock, of which 57,882 shares are owned directly, 15,977 shares are owned indirectly through revocable family trusts 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.

F3: The Reporting Person also holds a total of 75,513 Common Stock Equivalents (CSEs) awarded pursuant to the iStar Financial Inc. Non-Employee Directors Deferral 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.