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    SEC Form S-8 filed by iStar Inc.

    12/5/23 4:37:19 PM ET
    $STAR
    Real Estate Investment Trusts
    Real Estate
    Get the next $STAR alert in real time by email
    S-8 1 tm2332021d1_s8.htm FORM S-8

     

    As filed with the Securities and Exchange Commission on December 5, 2023

     

    Registration No. 333-         

     

     

    UNITED STATES

    SECURITIES AND EXCHANGE COMMISSION

    Washington, D.C. 20549

     

    FORM S-8

     

    REGISTRATION STATEMENT

    UNDER

    THE SECURITIES ACT OF 1933

     

    Safehold Inc.

    (Exact name of registrant as specified in its charter)

         
    Maryland   95-6881527

    (State or other jurisdiction of

    incorporation or organization)

     

    (I.R.S. Employer

    Identification No.)

     

    1114 Avenue of the Americas, 39th Floor

    New York, New York 10036

    (Address of Principal Executive Offices) (Zip Code)

     

    Safehold Inc. 2009 Amended and Restated Long-Term Incentive Plan

    (Full title of the plan)

     

    Jay Sugarman

    Chief Executive Officer

    Safehold Inc.

    1114 Avenue of the Americas, 39th Floor

    New York, New York 10036

    (Name and address of agent for service)

     

    (212) 930-9400

    (Telephone number, including area code, of agent for service)

     

    Copy to:

     

    Julian T.H. Kleindorfer, Esq.

    Lewis W. Kneib, Esq.

    Alexa M. Berlin, Esq.

    Latham & Watkins LLP

    355 South Grand Avenue

    Los Angeles, California 90071

    (213) 485-1234

     

    Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12-b2 of the Exchange Act.

     

    Large accelerated filerx  Accelerated filer ¨
    Non-accelerated filer¨  Smaller reporting company ¨
        Emerging growth company ¨

     

    If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act  ¨

     

     

     

     

     

     

    INTRODUCTION

     

    On March 31, 2023, Safehold Inc. (“Old Safehold”) merged with and into iStar Inc. (“iStar”), at which time Old Safehold ceased to exist, and iStar continued as the surviving corporation and changed its name to “Safehold Inc.”

     

    This Registration Statement on Form S-8 (this “Registration Statement”) is filed by Safehold Inc. (formerly known as iStar Inc. and referred to herein as “our,” “we” or “us”) relating to an additional 192,000 shares of Common Stock issuable to our eligible officers, key employees, directors and advisors under the Safehold Inc. Amended and Restated 2009 Long-Term Incentive Plan (the “Plan”).

     

    These shares being registered pursuant to this Registration Statement are the same class as other securities for which earlier Registration Statements on Form S-8 (File Nos. 333-259173 and 333-183465) (together, the “Prior Registration Statements”) were filed by us (then known as iStar) with the Securities and Exchange Commission (the “Commission”) on August 30, 2021 and August 21, 2012, respectively.

     

    In accordance with General Instruction E of Form S-8, this Registration Statement incorporates by reference and makes a part hereof the contents of the Prior Registration Statements to the extent not modified or superseded hereby or by any subsequently filed document incorporated by reference herein or therein.

     

    PART I

     

    INFORMATION REQUIRED IN THE SECTION 10(A) PROSPECTUS

     

    We are not filing or including in this Registration Statement the information called for in Part I of Form S-8 (by incorporation by reference or otherwise) in accordance with the rules and regulations of the Securities and Exchange Commission (the “Commission”).

     

    PART II

     

    INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

     

    Item 3. Incorporation of Documents by Reference

     

    The Commission allows us to incorporate by reference the information we file with it, which means that we can disclose important information to you by referring to those documents. The information incorporated by reference is an important part of this Registration Statement, and information that we file later with the Commission will automatically update and supersede this information. We incorporate by reference the following documents we filed with the Commission:

     

      (a) Our Annual Report on Form 10-K for the year ended December 31, 2022, filed with the Commission on February 22, 2023 (other than the audited financial statements of Old Safehold for the years ended December 31, 2022, December 31, 2021 and December 31, 2020, the related notes and the report of the independent registered public accounting firm thereto incorporated by reference in Item 15 (a) and (c) and the information included in Exhibit 99.1, which are included in Old Safehold’s Annual Report on Form 10-K for the year ended December 31, 2022, filed with the Commission on February 15, 2023, as amended by its Annual Report on Form 10-K/A filed with the Commission on March 30, 2023, which is separately incorporated by reference herein), as amended by our Annual Report on Form 10-K/A filed with the Commission on March 30, 2023;
      (b) Old Safehold’s Annual Report on Form 10-K for the year ended December 31, 2022, filed with the Commission on February 15, 2023, as amended by its Annual Report on Form 10-K/A filed with the Commission on March 30, 2023;

     

     

     

     

      (c) Our Quarterly Reports on Form 10-Q for the quarterly period ended March 31, 2023, filed with the Commission on April 28, 2023, the quarterly period ended June 30, 2023, filed with the Commission on August 1, 2023 and the quarterly period ended September 30, 2023, filed with the Commission on November 1, 2023;
      (d) Our Current Reports on Form 8-K filed with the Commission on March 2, 2023 (other than the information furnished pursuant to Item 7.01), March 9, 2023, April 4, 2023 (other than the audited financial statements of Old Safehold for the years ended December 31, 2022, December 31, 2021 and December 31, 2020, the related notes and the report of the independent registered public accounting firm thereto included in Item 9.01 (a) and Exhibit 99.7, which are included in Old Safehold’s Annual Report on Form 10-K for the year ended December 31, 2022, filed with the Commission on February 15, 2023, as amended by its Annual Report on Form 10-K/A filed with the Commission on March 30, 2023, which is separately incorporated by reference herein), April 5, 2023, April 14, 2023, April 26, 2023 (Film No. 23849987), June 22, 2023 (as amended by the Form 8-K/A filed with the Commission on November 13, 2023), August 1, 2023 (Film No. 231132329), August 11, 2023, October 6, 2023, October 31, 2023 (Film No. 231365219) and November 27, 2023;
      (e) Old Safehold’s Current Reports on Form 8-K filed with the Commission on January 9, 2023, February 14, 2023 (Film No. 23622593), March 2, 2023, March 9, 2023 and March 31, 2023; and
      (f) The description of our Common Stock contained in Exhibit 4.1 of our Current Report on Form 8-K filed with the Commission on April 4, 2023.

     

    In addition, all documents subsequently filed by us with the Commission pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of a post-effective amendment which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing of such documents with the Commission. We are not, however, incorporating by reference any documents or portions thereof, whether specifically listed above or filed in the future, that are not deemed “filed” with the Commission, including our compensation committee report and performance graph or any information furnished pursuant to Items 2.02 or 7.01 of Form 8-K or certain exhibits furnished pursuant to Item 9.01 of Form 8-K. Any statement contained in a document incorporated or deemed to be incorporated by reference in this Registration Statement shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained in this Registration Statement, or in any subsequently filed document which also is or is deemed to be incorporated by reference in this Registration Statement, modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

     

    Item 8. Exhibits

     

    Exhibit
    No.

     

    Description

       
    4.1   Form of Specimen Certificate Representing Common Stock (incorporated by reference to Exhibit 4.1 to the Company's Registration Statement on Form S-3 filed on April 4, 2023)
       
    4.2†   Safehold Inc. Amended and Restated 2009 Long-Term Incentive Plan (incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K filed on June 22, 2023)
       
    5.1*   Opinion of Venable LLP
       
    23.1*   Consent of Venable LLP (included in Exhibit 5.1)
       
    23.2*   Consent of Deloitte & Touche LLP
       
    23.3*   Consent of Deloitte & Touche LLP
       
    24.1*   Power of Attorney (included on the signature page of this Registration Statement)
         
    107*   Filing Fee Table

     

    * Filed herewith.
    † Management contract or compensatory plan or arrangement.

     

     

     

     

    SIGNATURES

     

    Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York, State of New York, on this 5th day of December, 2023.

     

      SAFEHOLD INC.
         
      By:

    /s/ Brett Asnas

        By: Brett Asnas
        Title: Chief Financial Officer

     

    KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below does hereby constitute and appoint Jay Sugarman, Marcos Alvarado, Brett Asnas and Doug Heitner, with full power to act without the other, such person’s true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for him and in his name, place and stead, in any and all capacities, to sign this Registration Statement, and any and all amendments thereto, and to file the same, with exhibits and schedules thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing necessary or desirable to be done in and about the premises, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, or their or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

     

    Name   Title   Date
         
    /s/ Jay Sugarman   Chief Executive Officer and Director   December 5, 2023
    Jay Sugarman   (Principal Executive Officer)  
         
    /s/ Brett Asnas   Chief Financial Officer   December 5, 2023
    Brett Asnas   (Principal Financial Officer)    
         
    /s/ Garett Rosenblum   Chief Accounting Officer   December 5, 2023
    Garett Rosenblum   (Principal Accounting Officer)  
         
    /s/ Marcos Alvarado   Director   December 5, 2023
    Marcos Alvarado    
         
    /s/ Jesse Hom   Director   December 5, 2023
    Jesse Hom    
         
    /s/ Robin Josephs   Director   December 5, 2023
    Robin Josephs        
             
    /s/ Jay Nydick   Director     December 5, 2023
    Jay Nydick        
         
    /s/ Barry W. Ridings   Director   December 5, 2023
    Barry W. Ridings    
         
    /s/ Stefan Selig   Director   December 5, 2023
    Stefan Selig        

     

     

     

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