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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1095651	Istar Financial Inc	SFI	Real Estate Investment Trusts (6798)	956881527

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1220479	Jay Sugarman	1114 Avenue Of The Americas, 39Th Floor New York NY 10036	Chairman And Ceo	Yes	Yes	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2015-05-21	63,866	$14.36	2,547,687	No	4	S	Direct
Common Stock	Disposition	2015-05-21	88,000	$14.36	2,547,687	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Direct
No	4	S	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	40,544	Indirect	By spouse
Preferred Stock, Series D	2,000	Direct
Restricted Stock Units	21,714	Direct

Footnotes

On May 21, 2015, the Reporting Person, Mr. Jay Sugarman, disposed of 63,866 shares of iStar common stock to a trust (Trust 1) and disposed of 88,000 shares of iStar common stock to a separate trust (Trust 2) in private transactions. The price shown represents the current market price of iStar common stock on the date of the transactions. The beneficiaries of Trust 1 are the Reporting Person's children. The beneficiaries of Trust 2 are the Reporting Person's spouse and children.
Following the transactions reported in this Form 4, the Reporting Person is the direct beneficial owner of 2,547,687 shares of iStar common stock and the indirect beneficial owner of 40,544 shares of iStar common stock owned by his spouse.
The Reporting Person is also the direct beneficial owner of 2,000 shares of iStar Series D preferred stock and 21,714 restricted stock units representing the right to receive an equivalent number of shares of iStar common stock (net of shares deducted for statutory minimum required tax withholdings) if and when such units vest.