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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): May 15, 2024

 

 

Safehold Inc.

(Exact name of registrant as specified in its charter)

 

Maryland   001-15371   95-6881527
(State or other jurisdiction of
incorporation)
  (Commission File Number)   (IRS Employer Identification Number)

 

1114 Avenue of the Americas,  
39th Floor  
New York, New York 10036
(Address of principal executive offices) (Zip Code)

 

Registrant’s telephone number, including area code: (212) 930-9400

 

 

N/A

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common Stock   SAFE   NYSE

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

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 13(a) of the Exchange Act.

 

 

 

 

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

The Board of Directors of Safehold Inc. (“SAFE” or the “Company”) previously adopted, subject to shareholder approval, an amendment (the “Amendment”) to the Safehold Inc. Amended and Restated 2009 Long-Term Incentive Plan (the “2009 LTIP”), which was approved by the Company’s shareholders on May 15, 2024 at the 2024 Annual Meeting of Stockholders (the “Annual Meeting”). The Amendment increased the aggregate number of shares of common stock available for issuance by 1,000,000, from 57,397 (which was the number remaining available for grants under the 2009 LTIP on May 15, 2024) to 1,057,397, subject to adjustment as provided in the 2009 LTIP, with an equivalent increase to the number of shares of common stock available for grant pursuant to incentive stock options.

 

The foregoing description of the Amendment is qualified in its entirety by reference to the text of the 2009 LTIP, as amended, which is filed as Exhibit 10.1 hereto, and incorporated herein by reference.

 

Item 5.07 Submission of Matters to a Vote of Security Holders.

 

On May 15, 2024, the Company held its Annual Meeting virtually, for the purpose of (i) electing six directors to hold office until the 2025 Annual Meeting of Stockholders, (ii) ratifying the appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2024, (iii) approving the Amendment to the 2009 LTIP, and (iv) approving, on a non-binding, advisory basis, the compensation of the Company’s named executive officers (the “Say-on-Pay Vote”). The final voting results for each of the proposals submitted to a vote of shareholders at the annual meeting are set forth below.

 

Proposal 1. Election of Directors: At the Annual Meeting, six directors were elected for terms continuing until the 2025 Annual Meeting of Stockholders. For each nominee, the numbers of votes cast for, votes withheld and broker non-votes were as follows:

 

Name of Nominees  For   Withheld   Broker Non-Votes 
Jay Sugarman   61,004,395    1,122,251    4,562,106 
Jesse Hom   53,659,239    8,467,407    4,562,106 
Robin Josephs   60,578,278    1,548,368    4,562,106 
Jay S. Nydick   61,817,198    309,448    4,562,106 
Barry Ridings   52,933,514    9,193,132    4,562,106 
Stefan M. Selig   57,674,178    4,452,468    4,562,106 

 

Proposal 2. Ratification of the Appointment of Deloitte & Touche LLP as the Company’s Independent Registered Public Accounting Firm for the Fiscal Year Ending December 31, 2024: At the Annual Meeting, the votes on a proposal to ratify the selection of Deloitte & Touche LLP as SAFE’s independent registered public accounting firm for the fiscal year ending December 31, 2024 were as set out below. The proposal was approved.

 

For   Against   Abstentions   Broker Non-Votes 
 65,426,737    1,242,060    19,955    0 

 

 

 

 

Proposal 3. Approval of the Amendment to the Safehold Inc. Amended and Restated 2009 Long-Term Incentive Plan: At the Annual Meeting, the votes on a proposal to approve an amendment to the Safehold Inc. Amended and Restated 2009 Long-Term Incentive Plan were as set out below. The proposal was approved.

 

For   Against   Abstentions   Broker Non-Votes 
 59,827,609    2,214,169    84,868    4,562,106 

 

Proposal 4. Non-Binding, Advisory Vote to Approve Executive Compensation (“Say-on-Pay”): At the Annual Meeting, the votes on a proposal to approve, on a non-binding, advisory basis, the compensation of SAFE’s named executive officers were as set out below. The proposal was approved.

 

For   Against   Abstentions   Broker Non-Votes 
 44,026,066    18,052,015    48,565    4,562,106 

 

Item 9.01Financial Statements and Exhibits.

 

(d)Exhibits

 

Exhibit 10.1 Amended and Restated 2009 Long-Term Incentive Plan

 

Exhibit 104 Inline XBRL for the cover page of this Current Report on Form 8-K.

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  Safehold Inc.
   
  By: /s/ Brett Asnas
    Name:  Brett Asnas
    Title:  Chief Financial Officer

 

Date: May 16, 2024