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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| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Michael Trachtenberg | $41,667 | $250,000 | $10,578,400 | $0 | $0 | — | $70 | $10,870,137 |
| President | ||||||||
| Jay Sugarman | 600,000 | 0 | 1,950,000 | 0 | 0 | — | 77,089 | 2,627,089 |
| Chairman and Chief Executive Officer | ||||||||
| Brett Asnas | 450,000 | 0 | 725,000 | 0 | 672,000 | — | 34,767 | 1,881,767 |
| 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.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Michael Trachtenberg | $10,870,137 | — | — | — |
| Jay Sugarman | 2,627,089 | 644,601 | 8,405,424 | ↑ +1,982,488 |
| Brett Asnas | 1,881,767 | 2,957,677 | 4,919,919 | ↓ −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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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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One page per director: the seat, the committees and the fee table, read for one person at a time.
| Director | Role | FY2025 total |
|---|---|---|
| Barry Ridings | Independent Director | $306,291 |
| Jay S. Nydick | Independent Director | $278,413 |
| Jesse Hom | Former director (through FY2025) | — |
| Robin Josephs | Independent Director | $325,527 |
| Stefan M. Selig | Independent Director | $351,863 |
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.
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| Brett Asnas | CHIEF FINANCIAL OFFICER | 2026-03-31 | D | 8,118 | $0 | $0 | Common | Form 4 ↗ |
| Jay Sugarman | Director | 2026-03-31 | D | 23,662 | 0 | 0 | Common | Form 4 ↗ |
| Robin Josephs | Director | 2026-04-15 | A | 359 | 0 | 0 | Common | Form 4 ↗ |
| Barry Ridings | Director | 2026-04-15 | A | 33 | 0 | 0 | Common | Form 4 ↗ |
| Robin Josephs | Director | 2026-05-14 | A | 8,778 | 0 | 0 | Common | Form 4 ↗ |
| Stefan M. Selig | Director | 2026-05-14 | A | 13,655 | 0 | 0 | Common | Form 4 ↗ |
| Jay S. Nydick | Director | 2026-05-14 | A | 8,778 | 0 | 0 | Common | Form 4 ↗ |
| Barry Ridings | Director | 2026-05-14 | A | 8,778 | 0 | 0 | Common | Form 4 ↗ |
| Christopher Michael Uhlick | Chief Accounting Officer | 2026-05-29 | A | 4,500 | 0 | 0 | Common | Form 4 ↗ |
| Robin Josephs | Director | 2026-07-15 | A | 335 | 0 | 0 | Common | Form 4 ↗ |
| Barry Ridings | Director | 2026-07-15 | A | 30 | 0 | 0 | Common | Form 4 ↗ |
| Robin Josephs | Director | 2026-09-09 | D | 9,500 | 15 | 138,348 | Common | Form 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.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Jay Sugarman | RSU | 2025-02-28 | — | — | 104,502 | — | $1,950,000 |
| Michael Trachtenberg | RSU | 2025-12-01 | — | — | 93,076 | — | 1,250,000 |
| Michael Trachtenberg | RSU | 2025-12-01 | — | — | 50,000 | — | 4,312,000 |
| Brett Asnas | RSU | 2025-02-28 | — | — | 38,853 | — | 725,000 |
| Michael Trachtenberg | PSU | 2025-12-01 | — | — | — | 60,000 | 807,000 |
| Michael Trachtenberg | PSU | 2025-12-01 | — | — | — | 700,000 | 4,209,400 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Jay Sugarman | $1,950,000 | $0 | $0 | 0.0% |
| Michael Trachtenberg | 5,562,000 | 5,016,400 | 0 | 47.4% |
| Brett Asnas | 725,000 | 0 | 0 | 0.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Brett Asnas | RSU | 49,702 | — | $680,420 |
| Jay Sugarman | RSU | 86,532 | — | 1,184,623 |
| Michael Trachtenberg | PSU | 39,600 | — | 542,124 |
| Jay Sugarman | RSU | 147,768 | — | 2,821,204 |
| Brett Asnas | RSU | 49,702 | — | 680,420 |
| Michael Trachtenberg | RSU | 93,076 | — | 1,274,210 |
| Michael Trachtenberg | RSU | 50,000 | — | 684,500 |
| Brett Asnas | PSU | 15,000 | — | 286,076 |
| Jay Sugarman | RSU | 147,768 | — | 2,821,204 |
| Michael Trachtenberg | PSU | 100,000 | — | 1,369,000 |
| Brett Asnas | RSU | 30,051 | — | 411,398 |
| Brett Asnas | RSU | 30,051 | — | 411,398 |
| Michael Trachtenberg | PSU | 39,600 | — | 542,124 |
| Brett Asnas | RSU | 53,880 | — | 1,027,584 |
| Jay Sugarman | RSU | 86,532 | — | 1,184,623 |
| Michael Trachtenberg | PSU | 100,000 | — | 1,369,000 |
| Michael Trachtenberg | RSU | 93,076 | — | 1,274,210 |
| Michael Trachtenberg | RSU | 50,000 | — | 684,500 |
| Brett Asnas | PSU | 15,000 | — | 286,076 |
| Brett Asnas | RSU | 53,880 | — | 1,027,584 |
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 consultant | Pay Governance |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | True |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-14 | 52,785,014 | 4,626,664 | 63,699 | 91.94% | Passed |
| 2025 | 2025-05-15 | 48,610,858 | 8,506,025 | 60,768 | 85.11% | Passed |
| 2024 | 2024-05-15 | 44,026,066 | 18,052,015 | 48,565 | 70.92% | Passed |
| 2023 | 2023-06-20 | 50,620,296 | 1,102,470 | 32,832 | 97.87% | Passed |
| 2022 | 2022-05-12 | 46,641,975 | 2,286,266 | 2,288,557 | 95.33% | Passed |
| 2021 | 2021-05-13 | 54,268,248 | 2,895,820 | 106,148 | 94.93% | 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.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2026 | 2026-05-14 | 91.94%a |
| 2025 | 2025-05-15 | 85.11%b |
| 2024 | 2024-05-15 | 70.92%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.
| Ratio (CEO : median employee) | 10 : 1 |
|---|---|
| CEO total compensation | $2,627,089 |
| Median employee compensation | $274,561 |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Stefan M. SeligIndependent · Audit · Compensation · Investment | $135,000 | $209,054 | $0 | $0 | $7,809 | $351,863 |
| Stefan SeligIndependent · Lead Independent Director · Audit · Compensation · Investment | 135,000 | 209,054 | — | — | 7,809 | 351,863 |
| Robin JosephsIndependent · Audit (Chair) · Nominating and Corporate Governance · Investment | 160,000 | 134,394 | 0 | 0 | 31,133 | 325,527 |
| Barry RidingsIndependent · Compensation (Chair) · Audit · Nominating and Corporate Governance | 165,000 | 134,394 | 0 | 0 | 6,898 | 306,291 |
| Jay S. NydickIndependent · Compensation · Nominating/Governance (Chair) · Investment (Chair) | 139,000 | 134,394 | 0 | 0 | 5,020 | 278,413 |
| Jay NydickIndependent · Compensation · Nominating and Corporate Governance · Investment (Chair) | 139,000 | 134,394 | — | — | 5,020 | 278,413 |
| 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 guideline | 5x annual cash retainer |
| Component | FY2025 |
|---|---|
| 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.
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Safehold Inc. | 2025 | Jay 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.
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.
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.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Michael Trachtenberg | DEF 14A | 2026-03-31 | 0001104659-26-037873 | Section “Summary Compensation Table”. As printed: 10,870,137. Filing ↗machine: t261 · r8 · c14 · span 832385–832395 |
| 2 | Section 01, Jay Sugarman | DEF 14A | 2026-03-31 | 0001104659-26-037873 | Section “Summary Compensation Table”. As printed: 2,627,089. Filing ↗machine: t261 · r5 · c14 · span 822150–822159 |
| 3 | Section 01, Brett Asnas | DEF 14A | 2026-03-31 | 0001104659-26-037873 | Section “Summary Compensation Table”. As printed: 1,881,767. Filing ↗machine: t261 · r11 · c14 · span 842546–842555 |
| 4 | Section 03, Jay Sugarman RSU | DEF 14A | 1900-01-01 | 0001104659-26-037873 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗ |
| 5 | Section 03, Michael Trachtenberg RSU | DEF 14A | 1900-01-01 | 0001104659-26-037873 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 930233–930242 |
| 6 | Section 03, Michael Trachtenberg RSU | DEF 14A | 1900-01-01 | 0001104659-26-037873 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 945330–945339 |
| 7 | Section 03, Brett Asnas RSU | DEF 14A | 1900-01-01 | 0001104659-26-037873 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗ |
| 8 | Section 03, Michael Trachtenberg PSU | DEF 14A | 1900-01-01 | 0001104659-26-037873 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 935063–935070 |
| 9 | Section 03, Michael Trachtenberg PSU | DEF 14A | 1900-01-01 | 0001104659-26-037873 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 939892–939901 |
| 10 | Section 07, pay ratio | DEF 14A | 2026-03-31 | 0001104659-26-037873 | Section “CEO Pay Ratio”. As printed: 10 : 1. Filing ↗machine: span 129803–129805 |
| 11 | Section 08, Stefan M. Selig | DEF 14A | 2026-03-31 | 0001104659-26-037873 | Section “Director Compensation”. As printed: 351,863. Filing ↗machine: t131 · r7 · c9 · span 360188–360337 |
| 12 | Section 08, Stefan Selig | DEF 14A | 2026-03-31 | 0001104659-26-037873 | Section “Director Compensation”. As printed: 351,863. Filing ↗machine: span 360188–360337 |
| 13 | Section 08, Robin Josephs | DEF 14A | 2026-03-31 | 0001104659-26-037873 | Section “Director Compensation”. As printed: 325,527. Filing ↗machine: t131 · r4 · c9 · span 353007–353156 |
| 14 | Section 08, Barry Ridings | DEF 14A | 2026-03-31 | 0001104659-26-037873 | Section “Director Compensation”. As printed: 306,291. Filing ↗machine: t131 · r6 · c9 · span 357833–357982 |
| 15 | Section 08, Jay S. Nydick | DEF 14A | 2026-03-31 | 0001104659-26-037873 | Section “Director Compensation”. As printed: 278,413. Filing ↗machine: t131 · r5 · c9 · span 355480–355629 |
| 16 | Section 08, Jay Nydick | DEF 14A | 2026-03-31 | 0001104659-26-037873 | Section “Director Compensation”. As printed: 278,413. Filing ↗machine: span 355480–355629 |
| 17 | Section 02, Brett Asnas 2026-03-31 | Form 4 | 2026-04-02 | 0001913456-26-000004 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 18 | Section 02, Jay Sugarman 2026-03-31 | Form 4 | 2026-04-02 | 0001220479-26-000004 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 19 | Section 02, Robin Josephs 2026-04-15 | Form 4 | 2026-04-17 | 0001222801-26-000005 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 20 | Section 02, Barry Ridings 2026-04-15 | Form 4 | 2026-04-17 | 0001044258-26-000005 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 21 | Section 02, Robin Josephs 2026-05-14 | Form 4 | 2026-05-15 | 0001222801-26-000007 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 22 | Section 02, Stefan M. Selig 2026-05-14 | Form 4 | 2026-05-15 | 0001709407-26-000008 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 23 | Section 02, Jay S. Nydick 2026-05-14 | Form 4 | 2026-05-15 | 0001308394-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 24 | Section 02, Barry Ridings 2026-05-14 | Form 4 | 2026-05-15 | 0001044258-26-000007 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 25 | Section 02, Christopher Michael Uhlick 2026-05-29 | Form 4 | 2026-06-01 | 0002075337-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 26 | Section 02, Robin Josephs 2026-07-15 | Form 4 | 2026-07-17 | 0001222801-26-000009 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 27 | Section 02, Barry Ridings 2026-07-15 | Form 4 | 2026-07-17 | 0001044258-26-000009 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 28 | Section 02, Robin Josephs 2026-09-09 | Form 4 | 2026-09-11 | 0001222801-26-000012 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 29 | Section 06, 2026 vote | Form 8-K | 2026-05-15 | 0001104659-26-062569 | Item 5.07 · say-on-pay result. As reported: 91.94% (votes for as printed: 52,785,014). Filing ↗ |
| 30 | Section 06, 2025 vote | Form 8-K | 2025-05-16 | 0001104659-25-050058 | Item 5.07 · say-on-pay result. As reported: 85.11% (votes for as printed: 48,610,858). Filing ↗ |
| 31 | Section 06, 2024 vote | Form 8-K | 2024-05-16 | 0001104659-24-062625 | Item 5.07 · say-on-pay result. As reported: 70.92% (votes for as printed: 44,026,066). Filing ↗ |
| 32 | Section 01 trend, Δ column (computed) | Computed | — | — | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 33 | Section 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 |
| 34 | Section 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 |
| 35 | Safehold Inc. (subject), Section 10b CEO total | DEF 14A | 2026-03-31 | 0001104659-26-037873 | CEO 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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