Star Holdings - Mar 31, 2023 Form 4 Insider Report for ISTAR INC. (SAFE)

Role
10%+ Owner
Signature
/s/ Geoffrey M. Dugan, Secretary
Stock symbol
SAFE
Transactions as of
Mar 31, 2023
Transactions value $
$0
Form type
4
Date filed
4/4/2023, 02:05 PM

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SAFE Common Stock Other $0 -13.5M -100% $0.00* 0 Mar 31, 2023 Direct F1, F2, F3
transaction SAFE Common Stock Other $0 +13.5M $0.00 13.5M Mar 31, 2023 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On March 31, 2023, pursuant to an Agreement and Plan of Merger, dated August 10, 2022 (the "Merger Agreement"), iStar Inc. ("iStar") and Safehold Inc. ("SAFE)" completed the merger of SAFE with and into iStar ("Merger") with iStar surviving the Merger and changing its name to Safehold Inc. ("New SAFE"; NYSE: SAFE).
F2 Prior to the effective date of the Merger date and in connection with the Merger, iStar contributed 13,522,651 shares of SAFE common stock to the Reporting Person, a subsidiary of iStar, which was subsequently spun off to iStar's stockholders on March 31, 2023. In the Merger, the Reporting Person acquired 13,522,651 shares of common stock of New SAFE through the conversion of each outstanding share of SAFE common stock into one share of common stock of New SAFE.
F3 The foregoing descriptions of the Merger and the Merger Agreement do not purport to be complete and are qualified entirely by reference to the Merger Agreement, a copy of which is included as an exhibit to Schedule 13D, Amendment No. 26, dated April 4, 2023 filed by iStar.