SUGARMAN JAY 4

What Happened
Jay Sugarman, Chairman and CEO of Safehold Inc. (NYSE: SAFE), was issued 90,149 shares on 2026-02-27 as an annual incentive award (transaction code A). The filing shows a simultaneous disposition for tax withholding (code F) of 40,825 shares, leaving a net delivery of 49,324 shares to Mr. Sugarman. The reported price per share for these entries is $0.00 (award/compensation), and the filing lists $0 in sale proceeds because the withholding was a share-for-tax settlement, not an open-market sale. The shares are fully vested.

Key Details

• Transaction date: 2026-02-27; Form 4 filed: 2026-03-03 (filed within the SEC two-business-day window).
• Awarded: 90,149 shares (code A) at $0.00.
• Tax withholding: 40,825 shares withheld/disposed (code F) at $0.00; net shares received: 49,324.
• Shares owned after transaction: not specified in this filing.
• Footnote: Confirms the 90,149 shares were issued as an annual incentive award, 40,825 withheld for taxes, and the remaining 49,324 shares are fully vested.

Context
This was a compensation-related grant (award) rather than an open-market purchase or sale. Withholding shares to cover tax obligations is routine and does not indicate an open-market sale by the insider. As a receipt of vested shares, this is an acquisition of stock via employer compensation, not a market transaction signaling buy/sell intent.