Safehold Inc. — Director's Dealing 2019

May 24, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ISTAR INC. (STAR)
CIK: 0001095651
Period of Report: 2019-02-28

Reporting Person: Richardson Andrew C (former CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-02-28	Restricted Stock Units	A	11429	—	Acquired	0	Direct
2019-05-14	Restricted Stock Units	J	11429	—	Disposed	0	Direct
2019-05-14	Restricted Stock Units	J	60000	—	Disposed	0	Direct
2019-03-30	Common Stock	A	20000	—	Acquired	26882	Direct
2019-03-30	Common Stock	F	7643	—	Disposed	26882	Direct

Footnotes

F1: Effective on February 28, 2019, the Reporting Person was granted a long-term incentive equity award in the total amount of 11,429 Restricted Stock Units (Units). The Units represent the right to receive an equivalent number of shares of iStar common stock (net of shares deducted for applicable taxes and other withholdings) if and when the Units vest. Subject to the terms of the award agreement, the Units were scheduled to vest in equal annual installments in January 2020, January 2021 and January 2022 if certain service conditions were satisfied. Effective May 14, 2019, upon the Reporting Person's voluntary termination of employment with iStar, these 11,429 unvested Units (together with other unvested Units previously granted to the Reporting Person -- see Footnote 2 below) were forfeited.

F2: Effective May 14, 2019, upon the Reporting Person's voluntary termination of employment with iStar, 60,000 unvested Restricted Stock Units previously granted to the Reporting Person were forfeited.