JOSEPHS ROBIN 4

What Happened
Robin Josephs, a director of Safehold Inc. (SAFE), was granted 8,778 Units on May 14, 2026. The grant was reported as an "A" (award/grant) on a Form 4 filed May 15, 2026. The reported acquisition price is $0.00, so no cash was exchanged at grant.

Key Details

• Transaction date: May 14, 2026; Filing date: May 15, 2026 (timely filing).
• Award: 8,778 Units at $0.00 (beneficially equivalent to 8,778 shares if vested).
• Vesting: Units vest in one installment on May 14, 2027, subject to satisfaction of service conditions (see footnote F1).
• Shares owned after transaction: not specified in the filing.
• Transaction code: A = Award/Grant (derivative security that converts to common stock upon vesting).

Context
These Units are a deferred equity award (a right to receive common stock if and when the Units vest); they do not represent immediately issued common shares. The award will only convert into shares if the stated service condition is met by the May 14, 2027 vesting date. Awards to directors are common as part of compensation; this filing documents the grant but does not indicate an immediate market impact.