Star Holdings
For the period ended Dec 31, 2025. Filed Feb 17, 2026.
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FY2025 · Filed Feb 17, 2026
STHO$7.70-1.0%Stored close · as of Nov 10, 2026
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Item 15. Exhibits and Financial Statement Schedules
| (a) | and (c) Financial statements and schedule—see Index to Financial Statements and Schedule included in Item 8. |
| (b) | Exhibits—see index below. |
INDEX TO EXHIBITS
| | | |
| Exhibit Number | | Document Description |
| 2.1 | | Separation and Distribution Agreement, dated as of March 31, 2023, by and between iStar Inc. and Star Holdings (incorporated by reference to Exhibit 2.1 to Current Report on Form 8-K filed on March 31, 2023) |
| 3.1 | | Amended and Restated Declaration of Trust of Star Holdings (incorporated by reference to Exhibit 3.1 to Current Report on Form 8-K filed on March 31, 2023) |
| 3.2 | | Amended and Restated Bylaws of Star Holdings (incorporated by reference to Exhibit 3.2 to Current Report on Form 8-K filed on March 31, 2023) |
| 4.1 | | Description of Capital Stock (incorporated by reference to Exhibit 4.1 to Annual Report on Form 10-K filed on February 27, 2024) |
| 10.1 | | Management Agreement, dated as of March 31, 2023, by and between Star Holdings and Safehold Management Services Inc. (incorporated by reference to Exhibit 10.1 to Current Report on Form 8-K filed on March 31, 2023) |
| 10.2 | | First Amendment to Management Agreement, dated as of March 28, 2025, by and between Star Holdings and Safehold Management Services Inc. (incorporated by reference to Exhibit 10.5 to our Current Report on Form 8-K, filed March 31, 2025) |
| 10.3 | | Governance Agreement, dated as of March 31, 2023, by and between Safehold Inc. and Star Holdings (incorporated by reference to Exhibit 10.2 to Current Report on Form 8-K filed on March 31, 2023) |
| 10.4 | | Registration Rights Agreement, dated as of March 31, 2023, by and between Safehold Inc. and Star Holdings (incorporated by reference to Exhibit 10.3 to Current Report on Form 8-K filed on March 31, 2023) |
| 10.5 | | Amended and Restated Credit Agreement, dated as of March 31, 2023, by and between Safehold Inc. and Star Holdings (incorporated by reference to Exhibit 10.1 to Quarterly Report on Form 10-Q filed on May 11, 2023) |
| 10.6 | | First Amendment to Amended and Restated Credit Agreement, dated as of October 4, 2023, by and between Safehold Inc. and Star Holdings (incorporated by reference to Exhibit 10.2 to Current Report on Form 8-K filed on October 6, 2023) |
| 10.7 | | Second Amendment to Amended and Restated Credit Agreement, dated as of March 28, 2025, by and between Safehold Inc. and Star Holdings (incorporated by reference to Exhibit 10.3 to our Current Report on Form 8-K, filed March 31, 2025) |
| 10.8 | | Margin Loan Agreement, dated as of March 31, 2023, by and among Star Investment Holdings SPV LLC, Morgan Stanley Bank, N.A., Morgan Stanley Senior Funding, Inc. and Morgan Stanley & Co. LLC (incorporated by reference to Exhibit 10.5 to Current Report on Form 8-K filed on March 31, 2023) |
| 10.9 | | Amendment No. 4 to Margin Loan Agreement, dated as of March 28, 2025, by and among Star Investment Holdings SPV LLC, Morgan Stanley Bank, N.A., Morgan Stanley Senior Funding, Inc. and Morgan Stanley & Co. LLC. (including an amended version of the Margin Loan Agreement, dated as of March 31, 2023, reflecting all previous amendments) (incorporated by reference to Exhibit 10.6 to our Current Report on Form 8-K, filed March 31, 2025) |
| 10.10 | | Form of Indemnification Agreement (incorporated by reference to Exhibit 10.6 to Current Report on Form 8-K filed on March 31, 2023) |
| 19.1 | | Star Holdings Insider Trading Compliance Policy and Procedures (incorporated by reference to Exhibit 19.1 to Annual Report on Form 10-K filed on February 18, 2025) |
| 21.1 | | Subsidiaries of the Company. |
| 31.0 | | Certifications pursuant to Section 302 of the Sarbanes-Oxley Act. |
| 32.0 | | Certifications pursuant to Section 906 of the Sarbanes-Oxley Act. |
| 97.0 | | Star Holdings Policy for Recovery of Erroneously Awarded Compensation (incorporated by reference to Exhibit 97.0 to Annual Report on Form 10-K filed February 27, 2024) |
| 101* | | Interactive data file |
| 104 | | Cover Page Interactive Data File (formatted in iXBRL and contained in Exhibit 101) |
| * | In accordance with Rule 406T of Regulation S-T, the XBRL related information in Exhibit 101 is deemed not filed or part of a registration statement or prospectus for purposes of sections 11 or 12 of the Securities Act of 1933, is deemed not filed for purposes of section 18 of the Exchange Act of 1934 and otherwise is not subject to liability under these sections. |
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