Safehold Inc. — Director's Dealing 2019

May 23, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ISTAR INC. (STAR)
CIK: 0001095651
Period of Report: 2019-05-16

Reporting Person: HOLMAN ROBERT W JR (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-05-16	Common Stock, par value $.001 per share	A	14334	—	Acquired	84448	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, par value $.001 per share	40240	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Common Stock Equivalents	$0		Common Stock (44802)	44802	Direct

Footnotes

F1: On May 16, 2019, the Reporting Person, Robert W. Holman, Jr., was awarded a total of 14,334 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, 2020.

F2: The Reporting Person also holds a total of 44,802 Common Stock Equivalents (CSEs) awarded pursuant to the Plan, all of which are vested, which are owned directly. 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.