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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): January 16, 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, NY |
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, $0.01 par value |
|
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. |
On January 16, 2024,
Marcos Alvarado, the President, Chief Investment Officer and a Director of Safehold Inc. (the “Company”) informed the Company
of his decision to resign from his positions, effective January 26, 2024 to pursue another professional opportunity at a private
investment firm.
Mr. Alvarado’s
departure is not related to the Company’s financial or operating results or to any disagreements with the Company regarding the
Company’s financial, operational, accounting, or reporting policies or practices.
| Item 7.01. | Regulation FD Disclosure. |
On January 16,
2024, the Company issued a press release relating to Mr. Alvarado’s resignation and announced updates to its executive
management team. A copy of such press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information furnished pursuant to this Item 7.01, including the attached exhibit, shall not be deemed “filed” for purposes
of the Exchange Act, or otherwise subject to the liabilities of such section, nor shall such information or exhibit be deemed incorporated
by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth
by specific reference in such a filing by the Company with the SEC.
| Item 9.01 | Financial Statements and Exhibits. |
Exhibit No. | |
Description |
| |
|
Exhibit 99.1 | |
Press Release |
| |
|
Exhibit 104 | |
Cover Page Interactive File (the cover page tags are embedded with the Inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
|
|
Safehold Inc. |
|
|
|
|
Date: |
January 16, 2024 |
By: |
/s/ Jay Sugarman |
|
|
|
Jay Sugarman |
|
|
|
Chief Executive Officer |
Exhibit 99.1
Press Release
Safehold
Announces Leadership Changes
Tim Doherty
Appointed Chief Investment Officer; Steve Wylder Named EVP, Head of Investments
Marcos
Alvarado to Depart to Pursue Another Professional Opportunity
NEW YORK, January 16, 2024
Safehold Inc. (NYSE: SAFE) today announced
updates to its executive management team.
Tim Doherty, EVP, Head of Investments, has been appointed Chief Investment
Officer, and Steve Wylder, EVP, Investments, has been appointed EVP, Head of Investments, effective January 26, 2024. The Company’s
current President & Chief Investment Officer, Marcos Alvarado, will step down from the Company to pursue a professional opportunity
at a private investment firm. Mr. Alvarado will remain with Safehold through January 26, 2024 to ensure a smooth transition
of his responsibilities.
“These appointments demonstrate the deep bench of talent we
have developed at Safehold,” said Jay Sugarman, Chairman and Chief Executive Officer. “Tim and Steve are both longtime
veterans of the business and have played instrumental roles in transforming Safehold from the creation of the business into the
leading ground lease REIT it is today, with a portfolio of high-quality assets across the country. I look forward to working closely
with them and our senior leadership as we continue to revolutionize real estate ownership and position Safehold for sustainable,
long-term value creation.”
Mr. Sugarman continued, “On behalf of the Board and executive
management team, we thank Marcos for his many contributions over his tenure. He has been a strong partner and leader at Safehold,
and we wish him the very best in his next professional endeavor.”
“I am incredibly proud of all we have achieved and I am
confident in Safehold’s continued success for years to come,” said Mr. Alvarado.
In his new role, Mr. Doherty will report directly
to Mr. Sugarman and Mr. Wylder will continue to report directly to Mr. Doherty.
In connection with his departure from the Company, Mr. Alvarado
will also step down from his position as a member of the Company’s Board of Directors.
About Safehold:
Safehold Inc. (NYSE: SAFE) is revolutionizing real estate ownership
by providing a new and better way for owners to unlock the value of the land beneath their buildings. Having created the modern ground
lease industry in 2017, Safehold continues to help owners of high quality multifamily, office, industrial, hospitality, student housing,
life science and mixed-use properties generate higher returns with less risk. The Company, which is taxed as a real estate investment
trust (REIT), seeks to deliver safe, growing income and long-term capital appreciation to its shareholders. Additional information on
Safehold is available on its website at www.safeholdinc.com.
Company Contact:
Pearse Hoffmann
Senior Vice President
Capital Markets & Investor Relations
T 212.930.9400
E investors@safeholdinc.com
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