Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-09-11

Safehold Inc. (SAFE)

CEO Jay Sugarman was paid $2,627,089 in fiscal year 2025, ↑ up 307.6% from fiscal year 2024 (SEC filing 0001104659-26-037873 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$10,870,137
Michael Trachtenberg total, FY2025
President — highest-paid officer; CEO Jay Sugarman: $2,627,089
—
CEO (Jay Sugarman) pay percentile vs peers
10:1
CEO-to-median pay ratio
91.94%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Jay Sugarman (Chairman and Chief Executive Officer), FY2025 total compensation $2,627,089 (base salary $600,000) [exec_comp, SEC accession 0001104659-26-037873, filed 2026-03-31]

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SAFE's next annual pay disclosure, estimated March 31, 2026.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Michael Trachtenberg$41,667$250,000$10,578,400$0$0—$70$10,870,137
President
Jay Sugarman600,00001,950,00000—77,0892,627,089
Chairman and Chief Executive Officer
Brett Asnas450,0000725,0000672,000—34,7671,881,767
Chief Financial Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Michael Trachtenberg$10,870,137———
Jay Sugarman2,627,089644,6018,405,424↑ +1,982,488
Brett Asnas1,881,7672,957,6774,919,919↓ −1,075,910

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

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$10,870,137 Michael Trachtenberg total, FY2025

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Data as of September 11, 2026 · Source: 0001104659-26-037873 · Velarion Executive Compensation Database, deposited on Zenodo (doi:10.5281/zenodo.22283855).

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Companies that benchmark against SAFE
6 companies name SAFE as a compensation peer

Each company listed discloses SAFE in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named SAFE in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

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01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
Barry RidingsIndependent Director$306,291
Jay S. NydickIndependent Director$278,413
Jesse HomFormer director (through FY2025)—
Robin JosephsIndependent Director$325,527
Stefan M. SeligIndependent Director$351,863
02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Brett AsnasCHIEF FINANCIAL OFFICER2026-03-31D8,118$0$0CommonForm 4 ↗
Jay SugarmanDirector2026-03-31D23,66200CommonForm 4 ↗
Robin JosephsDirector2026-04-15A35900CommonForm 4 ↗
Barry RidingsDirector2026-04-15A3300CommonForm 4 ↗
Robin JosephsDirector2026-05-14A8,77800CommonForm 4 ↗
Stefan M. SeligDirector2026-05-14A13,65500CommonForm 4 ↗
Jay S. NydickDirector2026-05-14A8,77800CommonForm 4 ↗
Barry RidingsDirector2026-05-14A8,77800CommonForm 4 ↗
Christopher Michael UhlickChief Accounting Officer2026-05-29A4,50000CommonForm 4 ↗
Robin JosephsDirector2026-07-15A33500CommonForm 4 ↗
Barry RidingsDirector2026-07-15A3000CommonForm 4 ↗
Robin JosephsDirector2026-09-09D9,50015138,348CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Jay SugarmanRSU2025-02-28——104,502—$1,950,000
Michael TrachtenbergRSU2025-12-01——93,076—1,250,000
Michael TrachtenbergRSU2025-12-01——50,000—4,312,000
Brett AsnasRSU2025-02-28——38,853—725,000
Michael TrachtenbergPSU2025-12-01———60,000807,000
Michael TrachtenbergPSU2025-12-01———700,0004,209,400
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Jay Sugarman$1,950,000$0$00.0%
Michael Trachtenberg5,562,0005,016,400047.4%
Brett Asnas725,000000.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Brett AsnasRSU49,702—$680,420
Jay SugarmanRSU86,532—1,184,623
Michael TrachtenbergPSU39,600—542,124
Jay SugarmanRSU147,768—2,821,204
Brett AsnasRSU49,702—680,420
Michael TrachtenbergRSU93,076—1,274,210
Michael TrachtenbergRSU50,000—684,500
Brett AsnasPSU15,000—286,076
Jay SugarmanRSU147,768—2,821,204
Michael TrachtenbergPSU100,000—1,369,000
Brett AsnasRSU30,051—411,398
Brett AsnasRSU30,051—411,398
Michael TrachtenbergPSU39,600—542,124
Brett AsnasRSU53,880—1,027,584
Jay SugarmanRSU86,532—1,184,623
Michael TrachtenbergPSU100,000—1,369,000
Michael TrachtenbergRSU93,076—1,274,210
Michael TrachtenbergRSU50,000—684,500
Brett AsnasPSU15,000—286,076
Brett AsnasRSU53,880—1,027,584
05

Incentive-plan design — the Compensation Discussion & Analysis

We strive to provide our employees with meaningful reward opportunities while maintaining alignment with stockholder interests and business imperatives. Our compensation philosophy is best enacted by designing programs and policies to achieve three core objectives: Attract, motivate and retain executives who contribute to the achievement of our short-term and long-term goals; Encourage our executives to improve business performance and increase shareholder value by providing a mix of compensation that is primarily performance-based and variable; Align executives interests with those of our stockholders by denominating a significant portion of total compensation in long-term interests that are both performance-based and equity-based.

CEO STI target (% of salary)417%
CEO LTI target (% of salary)—
Independent consultantPay Governance
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-1452,785,0144,626,66463,69991.94%Passed
20252025-05-1548,610,8588,506,02560,76885.11%Passed
20242024-05-1544,026,06618,052,01548,56570.92%Passed
20232023-06-2050,620,2961,102,47032,83297.87%Passed
20222022-05-1246,641,9752,286,2662,288,55795.33%Passed
20212021-05-1354,268,2482,895,820106,14894.93%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-05-1491.94%a
20252025-05-1585.11%b
20242024-05-1570.92%c

a. Approved under the standard stated in the filing — “For purposes of the vote on this proposal, abstentions and broker non-votes will not be counted as votes cast and will have no effect on the result of the vote, although they will be considered present for the purpose of determining the presence of a quorum.”.

b. Approved under the standard stated in the filing — “For purposes of the vote on this proposal, abstentions and broker non-votes will not be counted as votes cast and will have no effect on the result of the vote, although they will be considered present for the purpose of determining the presence of a quorum.”.

c. Approved under the standard stated in the filing — “For purposes of the vote on this proposal, abstentions and broker non-votes will not be counted as votes cast and will have no effect on the result of the vote, although they will be considered present for the purpose of determining the presence of a quorum.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)10 : 1
CEO total compensation$2,627,089
Median employee compensation$274,561
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Stefan M. SeligIndependent · Audit · Compensation · Investment$135,000$209,054$0$0$7,809$351,863
Stefan SeligIndependent · Lead Independent Director · Audit · Compensation · Investment135,000209,054——7,809351,863
Robin JosephsIndependent · Audit (Chair) · Nominating and Corporate Governance · Investment160,000134,3940031,133325,527
Barry RidingsIndependent · Compensation (Chair) · Audit · Nominating and Corporate Governance165,000134,394006,898306,291
Jay S. NydickIndependent · Compensation · Nominating/Governance (Chair) · Investment (Chair)139,000134,394005,020278,413
Jay NydickIndependent · Compensation · Nominating and Corporate Governance · Investment (Chair)139,000134,394——5,020278,413
09

Board fee structure and ownership guideline

Annual cash retainer$100,000
Annual equity retainer$135,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)40,000 / 40,000 / 16,000
Stock ownership guideline5x annual cash retainer
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$873,000
Equity awards (grant-date value)$955,684
All other compensation$63,689
Total cost of the board$1,892,373

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Safehold Inc.2025Jay Sugarman$600,000$1,950,000$0$0$2,627,089

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10d

Frequently asked questions

Who was the highest-paid executive at Safehold Inc. in fiscal 2025?
As disclosed, Michael Trachtenberg (President) was the highest-paid executive at Safehold Inc. in fiscal 2025, with total compensation of $10,870,137.
What is Safehold Inc.'s CEO-to-median employee pay ratio?
As disclosed, Safehold Inc.'s CEO-to-median employee pay ratio was 10:1.
How did shareholders vote on Safehold Inc.'s executive compensation?
As disclosed, 91.94% of shareholders supported Safehold Inc.'s executive compensation in the latest say-on-pay vote.
How much does Safehold Inc. spend in total on board compensation for fiscal 2025?
As disclosed, Safehold Inc. reported total board compensation of $1,892,373 for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Michael TrachtenbergDEF 14A2026-03-310001104659-26-037873Section “Summary Compensation Table”. As printed: 10,870,137. Filing ↗machine: t261 · r8 · c14 · span 832385–832395
2Section 01, Jay SugarmanDEF 14A2026-03-310001104659-26-037873Section “Summary Compensation Table”. As printed: 2,627,089. Filing ↗machine: t261 · r5 · c14 · span 822150–822159
3Section 01, Brett AsnasDEF 14A2026-03-310001104659-26-037873Section “Summary Compensation Table”. As printed: 1,881,767. Filing ↗machine: t261 · r11 · c14 · span 842546–842555
4Section 03, Jay Sugarman RSUDEF 14A1900-01-010001104659-26-037873Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
5Section 03, Michael Trachtenberg RSUDEF 14A1900-01-010001104659-26-037873Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 930233–930242
6Section 03, Michael Trachtenberg RSUDEF 14A1900-01-010001104659-26-037873Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 945330–945339
7Section 03, Brett Asnas RSUDEF 14A1900-01-010001104659-26-037873Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
8Section 03, Michael Trachtenberg PSUDEF 14A1900-01-010001104659-26-037873Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 935063–935070
9Section 03, Michael Trachtenberg PSUDEF 14A1900-01-010001104659-26-037873Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 939892–939901
10Section 07, pay ratioDEF 14A2026-03-310001104659-26-037873Section “CEO Pay Ratio”. As printed: 10 : 1. Filing ↗machine: span 129803–129805
11Section 08, Stefan M. SeligDEF 14A2026-03-310001104659-26-037873Section “Director Compensation”. As printed: 351,863. Filing ↗machine: t131 · r7 · c9 · span 360188–360337
12Section 08, Stefan SeligDEF 14A2026-03-310001104659-26-037873Section “Director Compensation”. As printed: 351,863. Filing ↗machine: span 360188–360337
13Section 08, Robin JosephsDEF 14A2026-03-310001104659-26-037873Section “Director Compensation”. As printed: 325,527. Filing ↗machine: t131 · r4 · c9 · span 353007–353156
14Section 08, Barry RidingsDEF 14A2026-03-310001104659-26-037873Section “Director Compensation”. As printed: 306,291. Filing ↗machine: t131 · r6 · c9 · span 357833–357982
15Section 08, Jay S. NydickDEF 14A2026-03-310001104659-26-037873Section “Director Compensation”. As printed: 278,413. Filing ↗machine: t131 · r5 · c9 · span 355480–355629
16Section 08, Jay NydickDEF 14A2026-03-310001104659-26-037873Section “Director Compensation”. As printed: 278,413. Filing ↗machine: span 355480–355629
17Section 02, Brett Asnas 2026-03-31Form 42026-04-020001913456-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
18Section 02, Jay Sugarman 2026-03-31Form 42026-04-020001220479-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
19Section 02, Robin Josephs 2026-04-15Form 42026-04-170001222801-26-000005Insider equity transaction reported since the proxy statement. Filing ↗
20Section 02, Barry Ridings 2026-04-15Form 42026-04-170001044258-26-000005Insider equity transaction reported since the proxy statement. Filing ↗
21Section 02, Robin Josephs 2026-05-14Form 42026-05-150001222801-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
22Section 02, Stefan M. Selig 2026-05-14Form 42026-05-150001709407-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
23Section 02, Jay S. Nydick 2026-05-14Form 42026-05-150001308394-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
24Section 02, Barry Ridings 2026-05-14Form 42026-05-150001044258-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
25Section 02, Christopher Michael Uhlick 2026-05-29Form 42026-06-010002075337-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
26Section 02, Robin Josephs 2026-07-15Form 42026-07-170001222801-26-000009Insider equity transaction reported since the proxy statement. Filing ↗
27Section 02, Barry Ridings 2026-07-15Form 42026-07-170001044258-26-000009Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, Robin Josephs 2026-09-09Form 42026-09-110001222801-26-000012Insider equity transaction reported since the proxy statement. Filing ↗
29Section 06, 2026 voteForm 8-K2026-05-150001104659-26-062569Item 5.07 · say-on-pay result. As reported: 91.94% (votes for as printed: 52,785,014). Filing ↗
30Section 06, 2025 voteForm 8-K2025-05-160001104659-25-050058Item 5.07 · say-on-pay result. As reported: 85.11% (votes for as printed: 48,610,858). Filing ↗
31Section 06, 2024 voteForm 8-K2024-05-160001104659-24-062625Item 5.07 · say-on-pay result. As reported: 70.92% (votes for as printed: 44,026,066). Filing ↗
32Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
33Section 03b vehicle mix (computed)Computed——RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
34Section 09b board cost (computed)Computed——Cash 873,000 + equity 955,684 + all other 63,689 = 1,892,373, summed across the director compensation table rows.machine: formula: Σ = 1,892,373
35Safehold Inc. (subject), Section 10b CEO totalDEF 14A2026-03-310001104659-26-037873CEO total compensation as printed in Safehold Inc.'s own proxy. As printed: 2,627,089. Filing ↗machine: t261 · r5 · c14 · span 822150–822159

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