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iStar Management

Management criteria checks 3/4

Key information

Jay Sugarman

Chief executive officer

US$2.3m

Total compensation

CEO salary percentage	25.8%
CEO tenure	26.3yrs
CEO ownership	3.4%
Management average tenure	4.6yrs
Board average tenure	5.8yrs

Recent management updates

How Much is iStar's (NYSE:STAR) CEO Getting Paid?

Dec 29

Recent updates

One iStar Inc. (NYSE:STAR) Analyst Just Slashed Their Estimates By A Significant 50%

Feb 28

Earnings Update: iStar Inc. (NYSE:STAR) Just Reported And Analysts Are Trimming Their Forecasts

Feb 26

Do Institutions Own iStar Inc. (NYSE:STAR) Shares?

Feb 18

How Much is iStar's (NYSE:STAR) CEO Getting Paid?

Dec 29

The iStar (NYSE:STAR) Share Price Has Gained 29% And Shareholders Are Hoping For More

Nov 24

iStar (STAR) Investor Presentation - Slideshow

Nov 20

The Huge Opportunity In iStar

Nov 15

iStar reports Q3 results

Nov 03

CEO Compensation Analysis

How has Jay Sugarman's remuneration changed compared to iStar's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2022	n/a	n/a	-US$221m
Sep 30 2022	n/a	n/a	-US$182m
Jun 30 2022	n/a	n/a	-US$90m
Mar 31 2022	n/a	n/a	US$6m
Dec 31 2021	US$2m	US$600k	-US$7m
Sep 30 2021	n/a	n/a	-US$53m
Jun 30 2021	n/a	n/a	-US$158m
Mar 31 2021	n/a	n/a	-US$139m
Dec 31 2020	US$936k	US$600k	-US$140m
Sep 30 2020	n/a	n/a	-US$93m
Jun 30 2020	n/a	n/a	-US$98m
Mar 31 2020	n/a	n/a	US$288m
Dec 31 2019	US$4m	US$1m	-US$188m
Sep 30 2019	n/a	n/a	US$222m
Jun 30 2019	n/a	n/a	US$211m
Mar 31 2019	n/a	n/a	-US$109m
Dec 31 2018	US$6m	US$1m	-US$65m
Sep 30 2018	n/a	n/a	US$41m
Jun 30 2018	n/a	n/a	US$26m
Mar 31 2018	n/a	n/a	US$41m
Dec 31 2017	US$6m	US$1m	-US$17m
Sep 30 2017	n/a	n/a	-US$35m
Jun 30 2017	n/a	n/a	US$43m
Mar 31 2017	n/a	n/a	US$19m
Dec 31 2016	US$4m	US$1m	US$26m

Compensation vs Market: Jay's total compensation ($USD2.33M) is below average for companies of similar size in the US market ($USD3.89M).

Compensation vs Earnings: Jay's compensation has increased whilst the company is unprofitable.

CEO

Jay Sugarman (59 yo)

26.3yrs

Tenure

US$2,327,438

Compensation

Mr. Jay S. Sugarman has been the Executive Chairman of the Board and Chief Executive Officer of iStar Inc. since founded in 1997. Mr. Sugarman serves as Chief Executive Officer of iStar Marlin LLC. He has...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Jay Sugarman	Executive Chairman & CEO	26.3yrs	US$2.33m	3.41% $ 22.6m
Marcos Alvarado	President & Chief Investment Officer	5.2yrs	US$5.81m	0.084% $ 558.0k
Garett Rosenblum	Senior VP & Chief Accounting Officer	no data	US$951.26k	0.045% $ 296.2k
Brett Asnas	Chief Financial Officer	1.2yrs	no data	0.049% $ 327.6k
Kyle Curtin	Chief Administrative Officer	2.3yrs	no data	no data
Pearse Hoffmann	Senior Vice President of Capital Markets & Investor Relations	less than a year	no data	no data
Geoffrey Dugan	Senior VP	no data	no data	no data
Douglas Heitner	Chief Legal Officer	4.1yrs	no data	no data
Theresa Ulyatt	Chief People Officer	2.3yrs	no data	no data
Chase Curtis	Executive Vice President of Credit	21.8yrs	no data	no data
Elisha Blechner	Executive VP & Head of Portfolio Management	6yrs	no data	no data
Timothy Doherty	Executive VP & Head of Investments	5.3yrs	no data	no data

4.6yrs

Average Tenure

41yo

Average Age

Experienced Management: STAR's management team is considered experienced (4.6 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Jay Sugarman	Executive Chairman & CEO	27.3yrs	US$2.33m	3.41% $ 22.6m
Clifford De Souza	Independent Director	7.8yrs	US$269.40k	0.089% $ 590.2k
Barry Ridings	Director	less than a year	US$279.40k	0.13% $ 852.6k
Robin Josephs	Lead Independent Director	25.1yrs	US$326.53k	0.22% $ 1.5m
Richard Lieb	Independent Director	3.9yrs	US$250.40k	0.048% $ 317.7k
David Eisenberg	Independent Director	2.7yrs	US$243.78k	0.042% $ 275.4k

5.8yrs

Average Tenure

61yo

Average Age

Experienced Board: STAR's board of directors are considered experienced (5.8 years average tenure).

This company is no longer active

iStar Management

Management criteria checks 3/4

Key information

Recent management updates

iStar Inc. Elects Barry W. Ridings as Director At the Annual General Meeting Held on May 12, 2022

iStar Inc., Annual General Meeting, May 12, 2022

iStar Inc. Names Brett Asnas as Chief Financial Officer

How Much is iStar's (NYSE:STAR) CEO Getting Paid?

Recent updates

Forecast breakeven date pushed back to 2025

Full year 2022 earnings: EPS and revenues miss analyst expectations

Forecast breakeven date moved forward to 2023

iStar Q4 2022 Earnings Preview

iStar Inc. to Report Q4, 2022 Results on Feb 21, 2023

Price target decreased by 21% to US$22.00

Forecast breakeven date pushed back to 2025

Now 29% undervalued after recent price drop

iStar Inc. Announces Special Dividend, Payable on November 30, 2022

Third quarter 2022 earnings: EPS and revenues exceed analyst expectations

iStar Inc. to Report Q3, 2022 Results on Nov 03, 2022

Upcoming dividend of US$0.13 per share

iStar Inc. Declares Quarterly Common Dividend, Payable on September 15, 2022

iStar declares $0.125 dividend

Safehold Inc. (NYSE:SAFE) entered into an agreement to acquire iStar Inc. (NYSE:STAR) for $3.7 billion.

MSD Partners, L.P. entered into an agreement to acquire 8.7% stake in Safehold Inc. (NYSE:SAFE) from iStar Inc. (NYSE:STAR) for approximately $200 million.

Second quarter 2022 earnings: EPS and revenues exceed analyst expectations

iStar Q2 2022 Earnings Preview

iStar Inc. to Report Q2, 2022 Results on Aug 04, 2022

Upcoming dividend of US$0.13 per share

iStar Inc. Elects Barry W. Ridings as Director At the Annual General Meeting Held on May 12, 2022

iStar Inc. Declares Quarterly Dividends for the Second Quarter of 2022, Payable June 15, 2022

Price target decreased to US$30.50

First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind

Forecast breakeven date moved forward to 2022

iStar Inc. to Report Q1, 2022 Results on May 03, 2022

iStar Inc., Annual General Meeting, May 12, 2022

Forecast breakeven date moved forward to 2022

Forecast to breakeven in 2024

Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind

iStar Inc. Declares Common Stock Dividend for the First Quarter of 2022, Payable on March 15, 2022

iStar Inc. to Report Q4, 2021 Results on Feb 24, 2022

iStar Inc. Names Brett Asnas as Chief Financial Officer

Consensus forecasts updated

Carlyle Net Lease Income, L.P. signed a definitive agreement to acquire the net lease asset portfolio of iStar Inc. for $3.1 billion.

Carlyle Global Credit Investment Management L.L.C. signed a definitive agreement to acquire the net lease asset portfolio of iStar Inc. for $3.1 billion.

Investor sentiment improved over the past week

iStar: Why I Am Not Buying Just Yet

Upcoming dividend of US$0.13 per share

Third quarter 2021 earnings released: EPS US$1.71 (vs US$0.028 loss in 3Q 2020)

iStar: The REIT Innovator Poised For Future Growth

Upcoming dividend of US$0.13 per share

Price target increased to US$29.33

Why I Tripled Down On iStar

Second quarter 2021 earnings released: US$0.19 loss per share (vs US$0.31 loss in 2Q 2020)

iSTAR: The Time To Invest Is Now

iSTAR: 2 Scoops For The Price Of 1

Upcoming dividend of US$0.13 per share

Independent Director has left the company

iStar Inc. Declares Common Stock Dividend, Payable on June 15, 2021

Consensus forecasts updated

First quarter 2021 earnings released: US$0.005 loss per share (vs US$0.28 loss in 1Q 2020)

One iStar Inc. (NYSE:STAR) Analyst Just Slashed Their Estimates By A Significant 50%

Earnings Update: iStar Inc. (NYSE:STAR) Just Reported And Analysts Are Trimming Their Forecasts

Revenue and earnings beat expectations

New 90-day high: US$16.98

Do Institutions Own iStar Inc. (NYSE:STAR) Shares?

New 90-day high: US$15.81

iStar Inc. to Report Q4, 2020 Results on Feb 23, 2021

New 90-day high: US$15.11

How Much is iStar's (NYSE:STAR) CEO Getting Paid?

New 90-day high: US$14.69

The iStar (NYSE:STAR) Share Price Has Gained 29% And Shareholders Are Hoping For More

Upcoming Dividend of US$0.11 Per Share

iStar (STAR) Investor Presentation - Slideshow

The Huge Opportunity In iStar

New 90-day high: US$13.13

Revenue beats expectations, earnings disappoint

Third quarter 2020 earnings released: US$0.028 loss per share

Analysts increase EPS estimates to -US$0.97