SFI » Topics » 401(k) Plan

These excerpts taken from the SFI 10-K filed Feb 27, 2009.

401(k) Plan

        Effective November 4, 1999, the Company implemented a savings and retirement plan (the "401(k) Plan"), which is a voluntary, defined contribution plan. All employees are eligible to participate in the 401(k) Plan following completion of three months of continuous service with the Company. Each participant may contribute on a pretax basis up to the maximum percentage of compensation and dollar amount permissible under Section 402(g) of the Internal Revenue Code not to exceed the limits of Code Sections 401(k), 404 and 415. At the discretion of the Board of Directors, the Company may make matching contributions on the participant's behalf of up to 50% of the first 10% of the participant's annual compensation. The Company made gross contributions of approximately $1.5 million, $1.1 million and $0.7 million for the years ended December 31, 2008, 2007 and 2006, respectively.

112



iStar Financial Inc.

Notes to Consolidated Financial Statements (Continued)

401(k) Plan



        Effective November 4, 1999, the Company implemented a savings and retirement plan (the "401(k) Plan"), which is a voluntary,
defined contribution plan. All employees are eligible to participate in the 401(k) Plan following completion of three months of continuous service with the Company. Each participant may contribute on
a pretax basis up to the maximum percentage of compensation and dollar amount permissible under Section 402(g) of the Internal Revenue Code not to exceed the limits of Code
Sections 401(k), 404 and 415. At the discretion of the Board of Directors, the Company may make matching contributions on the participant's behalf of up to 50% of the first 10% of the
participant's annual compensation. The Company made gross contributions of approximately $1.5 million, $1.1 million and $0.7 million for the years ended December 31, 2008,
2007 and 2006, respectively.



112









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iStar Financial Inc.



Notes to Consolidated Financial Statements (Continued)



This excerpt taken from the SFI 10-Q filed Nov 7, 2008.

401(k) Plan

        The Company made gross contributions of $0.2 million for each of the three months ended September 30, 2008 and 2007. The Company made gross contributions of $1.3 million and $0.9 million for the nine months ended September 30, 2008 and 2007, respectively.

34



iStar Financial Inc.

Notes to Consolidated Financial Statements (Continued)

(unaudited)

This excerpt taken from the SFI 10-Q filed Aug 8, 2008.

401(k) Plan

        The Company made gross contributions of approximately $0.2 million and $0.1 million for the three months ended June 30, 2008 and 2007, respectively. The Company made gross contributions of approximately $1.1 million and $0.7 million for the six months ended June 30, 2008 and 2007, respectively.

33


Table of Contents

iStar Financial Inc.

Notes to Consolidated Financial Statements (Continued)

This excerpt taken from the SFI 10-Q filed May 9, 2008.

401(k) Plan

        The Company made gross contributions of approximately $0.9 million and $0.6 million for the three months ended March 31, 2008 and 2007, respectively.

31


iStar Financial Inc.

Notes to Consolidated Financial Statements (Continued)

These excerpts taken from the SFI 10-K filed Feb 29, 2008.

401(k) Plan

        Effective November 4, 1999, the Company implemented a savings and retirement plan (the "401(k) Plan"), which is a voluntary, defined contribution plan. All employees are eligible to participate in the 401(k) Plan following completion of three months of continuous service with the Company. Each participant may contribute on a pretax basis up to the maximum percentage of compensation and dollar amount permissible under Section 402(g) of the Internal Revenue Code not to exceed the limits of Code Sections 401(k), 404 and 415. At the discretion of the Board of Directors, the Company may make matching contributions on the participant's behalf of up to 50% of the first 10% of the participant's annual compensation. The Company made gross contributions of approximately $1.1 million, $0.7 million and $0.7 million for the years ended December 31, 2007, 2006 and 2005, respectively.

        EPS is calculated using the two-class method, pursuant to EITF 03-6. The two-class method is required as the Company's HPU shares each have the right to receive dividends should dividends be declared on the Company's Common Stock. HPU holders are Company employees or former employees who purchased high performance common stock units under the Company's High Performance Unit Program.

109


iStar Financial Inc.

Notes to Consolidated Financial Statements (Continued)

401(k) Plan



        Effective November 4, 1999, the Company implemented a savings and retirement plan (the "401(k) Plan"), which is a voluntary, defined contribution plan. All
employees are eligible to participate in the 401(k) Plan following completion of three months of continuous service with the Company. Each participant may contribute on a pretax basis up to the
maximum percentage of compensation and dollar amount permissible under Section 402(g) of the Internal Revenue Code not to exceed the limits of Code Sections 401(k), 404 and 415. At the
discretion of the Board of Directors, the Company may make matching contributions on the participant's behalf of up to 50% of the first 10% of the participant's annual compensation. The Company made
gross contributions of approximately $1.1 million, $0.7 million and $0.7 million for the years ended December 31, 2007, 2006 and 2005, respectively.



        EPS
is calculated using the two-class method, pursuant to EITF 03-6. The two-class method is required as the Company's HPU shares each have the
right to receive dividends should dividends be declared on the Company's Common Stock. HPU holders are Company employees or former employees who purchased high performance common stock units under the
Company's High Performance Unit Program.



109








NAME="page_ee44601_1_110">






iStar Financial Inc.



Notes to Consolidated Financial Statements (Continued)




This excerpt taken from the SFI 10-Q filed Aug 9, 2007.

401(k) Plan

The Company made gross contributions to the savings and retirement plan (the “401(k) Plan”) of approximately $0.1 million for each of the three months ended June 30, 2007 and 2006, and $0.7 million and $0.5 million for the six months ended June 30, 2007 and 2006, respectively.

This excerpt taken from the SFI 10-Q filed May 9, 2007.

401(k) Plan

The Company made gross contributions to the savings and retirement plan (the “401(k) Plan”) of approximately $0.6 million and $0.4 million for the three months ended March 31, 2007 and 2006, respectively.

This excerpt taken from the SFI 10-K filed Mar 1, 2007.

401(k) Plan

Effective November 4, 1999, the Company implemented a savings and retirement plan (the “401(k) Plan”), which is a voluntary, defined contribution plan. All employees are eligible to participate in the 401(k) Plan following completion of three months of continuous service with the Company. Each participant may contribute on a pretax basis up to the maximum percentage of compensation and dollar amount permissible under Section 402(g) of the Internal Revenue Code not to exceed the limits of Code Sections 401(k), 404 and 415. At the discretion of the Board of Directors, the Company may make matching contributions on the participant’s behalf of up to 50% of the first 10% of the participant’s annual compensation. The Company made gross contributions of approximately $0.7 million, $0.7 million and $0.5 million for the years ended December 31, 2006, 2005 and 2004, respectively.

104




iStar Financial Inc.
Notes to Consolidated Financial Statements (Continued)

This excerpt taken from the SFI 10-Q filed Nov 8, 2006.

401(k) Plan

Effective November 4, 1999, the Company implemented a savings and retirement plan (the “401(k) Plan”), which is a voluntary, defined contribution plan. All employees are eligible to participate in the 401(k) Plan following completion of three months of continuous service with the Company. Each participant may contribute on a pretax basis up to the maximum percentage of compensation and dollar amount permissible under Section 402(g) of the Internal Revenue Code not to exceed the limits of Code Sections 401(k), 404 and 415. At the discretion of the Board of Directors, the Company may make matching contributions on the participant’s behalf of up to 50% of the first 10% of the participant’s annual compensation. The Company made gross contributions of approximately $93,000 and $95,000 for the three months ended September 30, 2006 and 2005, respectively, and $632,000 and $609,000 for the nine months ended September 30, 2006 and 2005, respectively.

This excerpt taken from the SFI 8-K filed Sep 13, 2006.
401(k) Plan

Effective November 4, 1999, the Company implemented a savings and retirement plan (the “401(k) Plan”), which is a voluntary, defined contribution plan. All employees are eligible to participate in the 401(k) Plan following completion of three months of continuous service with the Company. Each participant may contribute on a pretax basis up to the maximum percentage of compensation and dollar amount permissible under Section 402(g) of the Internal Revenue Code not to exceed the limits of Code Sections 401(k), 404 and 415. At the discretion of the Board of Directors, the Company may make matching contributions on the participant’s behalf of up to 50.00% of the first 10.00% of the participant’s annual compensation. The Company made gross contributions of approximately $694,000, $523,000 and $424,000 for the 12 months ended December 31, 2005, 2004 and 2003, respectively.




This excerpt taken from the SFI 10-Q filed Aug 8, 2006.

401(k) Plan

Effective November 4, 1999, the Company implemented a savings and retirement plan (the “401(k) Plan”), which is a voluntary, defined contribution plan. All employees are eligible to participate in the 401(k) Plan following completion of three months of continuous service with the Company. Each participant may contribute on a pretax basis up to the maximum percentage of compensation and dollar amount permissible under Section 402(g) of the Internal Revenue Code not to exceed the limits of Code Sections 401(k), 404 and 415. At the discretion of the Board of Directors, the Company may make matching contributions on the participant’s behalf of up to 50.00% of the first 10.00% of the participant’s annual compensation. The Company made gross contributions of approximately $100,000 and $145,000 for the three months ended June 30, 2006 and 2005, respectively, and $539,000 and $513,000 for the six months ended June 30, 2006 and 2005, respectively.

36




iStar Financial Inc.
Notes to Consolidated Financial Statements (Continued)

This excerpt taken from the SFI 10-Q filed May 10, 2006.

401(k) Plan

Effective November 4, 1999, the Company implemented a savings and retirement plan (the “401(k) Plan”), which is a voluntary, defined contribution plan. All employees are eligible to participate in the 401(k) Plan following completion of three months of continuous service with the Company. Each participant may contribute on a pretax basis up to the maximum percentage of compensation and dollar amount permissible under Section 402(g) of the Internal Revenue Code not to exceed the limits of Code Sections 401(k), 404 and 415. At the discretion of the Board of Directors, the Company may make matching contributions on the participant’s behalf of up to 50.00% of the first 10.00% of the participant’s annual compensation. The Company made gross contributions of approximately $439,000 and $368,000 for the three months ended March 31, 2006 and 2005, respectively.

36




iStar Financial Inc.
Notes to Consolidated Financial Statements (Continued)

This excerpt taken from the SFI 10-K filed Mar 16, 2006.
401(k) Plan

Effective November 4, 1999, the Company implemented a savings and retirement plan (the “401(k) Plan”), which is a voluntary, defined contribution plan. All employees are eligible to participate in the 401(k) Plan following completion of three months of continuous service with the Company. Each participant may contribute on a pretax basis up to the maximum percentage of compensation and dollar amount permissible under Section 402(g) of the Internal Revenue Code not to exceed the limits of Code Sections 401(k), 404 and 415. At the discretion of the Board of Directors, the Company may make matching contributions on the participant’s behalf of up to 50.00% of the first 10.00% of the participant’s annual compensation. The Company made gross contributions of approximately $694,000, $523,000 and $424,000 for the 12 months ended December 31, 2005, 2004 and 2003, respectively.

96




iStar Financial Inc.
Notes to Consolidated Financial Statements (Continued)

This excerpt taken from the SFI 10-Q filed Nov 9, 2005.

401(k) Plan

Effective November 4, 1999, the Company implemented a savings and retirement plan (the “401(k) Plan”), which is a voluntary, defined contribution plan. All employees are eligible to participate in the 401(k) Plan following completion of three months of continuous service with the Company. Each participant may contribute on a pretax basis up to the maximum percentage of compensation and dollar amount permissible under Section 402(g) of the Internal Revenue Code not to exceed the limits of Code Sections 401(k), 404 and 415. At the discretion of the Board of Directors, the Company may make matching contributions on the participant’s behalf of up to 50.00% of the first 10.00% of the participant’s annual compensation. The Company made gross contributions of approximately $95,000 and $81,000 for the three months ended September 30, 2005 and 2004, respectively, and $609,000 and $448,000 for the nine months ended September 30, 2005 and 2004, respectively.

42




iStar Financial Inc.
Notes to Consolidated Financial Statements (Continued)

This excerpt taken from the SFI 8-K filed Sep 20, 2005.
“PLAN”), OR AN ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN ASSETS” BY REASON OF ANY PLAN’S INVESTMENT IN THE ENTITY, AND NO PERSON INVESTING “PLAN ASSETS” OF ANY PLAN MAY ACQUIRE OR HOLD THIS SECURITY OR ANY INTEREST THEREIN. ANY PURCHASER OR HOLDER OF THE SECURITIES OR ANY INTEREST THEREIN WILL BE DEEMED TO HAVE REPRESENTED BY ITS PURCHASE AND HOLDING THEREOF THAT IT IS NOT AN EMPLOYEE BENEFIT PLAN WITHIN THE MEANING OF SECTION 3(3) OF ERISA, OR A PLAN TO WHICH SECTION 4975 OF THE CODE IS APPLICABLE, A TRUSTEE OR OTHER PERSON ACTING ON BEHALF OF AN EMPLOYEE BENEFIT PLAN OR PLAN, OR ANY OTHER PERSON OR ENTITY USING THE ASSETS OF ANY EMPLOYEE BENEFIT PLAN OR PLAN TO FINANCE SUCH PURCHASE.

 

D-2



 

This excerpt taken from the SFI 10-Q filed Aug 8, 2005.
401(k) Plan

Effective November 4, 1999, the Company implemented a savings and retirement plan (the “401(k) Plan”), which is a voluntary, defined contribution plan. All employees are eligible to participate in the 401(k) Plan following completion of three months of continuous service with the Company. Each participant may contribute on a pretax basis up to the maximum percentage of compensation and dollar amount permissible under Section 402(g) of the Internal Revenue Code not to exceed the limits of Code Sections 401(k), 404 and 415. At the discretion of the Board of Directors, the Company may make matching contributions on the participant’s behalf of up to 50.00% of the first 10.00% of the participant’s annual compensation. The Company made gross contributions of approximately $145,000 and $88,000 for the three months ended June 30, 2005 and 2004, respectively, and $513,000 and $367,000 for the six months ended June 30, 2005 and 2004, respectively.

41




iStar Financial Inc.
Notes to Consolidated Financial Statements  (Continued)

This excerpt taken from the SFI 10-Q filed May 10, 2005.

401(k) Plan

        Effective November 4, 1999, the Company implemented a savings and retirement plan (the "401(k) Plan"), which is a voluntary, defined contribution plan. All employees are eligible to participate in the 401(k) Plan following completion of three months of continuous service with the Company. Each participant may contribute on a pretax basis up to the maximum percentage of compensation and dollar amount permissible under Section 402(g) of the Internal Revenue Code not to exceed the limits of Code Sections 401(k), 404 and 415. At the discretion of the Board of Directors, the Company may make matching contributions on the participant's behalf of up to 50.00% of the first 10.00% of the participant's annual compensation. The Company made gross contributions of approximately $368,000 and $279,000 for the three months ended March 31, 2005 and 2004, respectively.

This excerpt taken from the SFI DEF 14A filed Apr 22, 2005.

2007 Plan

Name of Purchaser

  Purchase Date
  Total Purchase Price
  Units
  % of Outstanding Interests
 
Jay Sugarman   February 2005   $ 274,425   3,750   75 %
Jay Nydick, by family trust   February 2005   $ 91,475   1,250   25 %

        Under Mr. Nydick's employment agreement, we have also offered Mr. Nydick the opportunity to purchase interests representing 30% of the total interests in the 2008 Plan and 35% of the total interests in the 2009 Plan, subject to approval of those plans by our shareholders. The purchase prices for those interests will be the fair market value for such interests, as determined by our Board's Compensation Committee.

This excerpt taken from the SFI 10-K filed Mar 16, 2005.

401(k) Plan

        Effective November 4, 1999, the Company implemented a savings and retirement plan (the "401(k) Plan"), which is a voluntary, defined contribution plan. All employees are eligible to participate in the 401(k) Plan following completion of three months of continuous service with the Company. Each participant may contribute on a pretax basis up to the maximum percentage of compensation and dollar amount permissible under Section 402(g) of the Internal Revenue Code not to exceed the limits of Code Sections 401(k), 404 and 415. At the discretion of the Board of Directors, the Company may make matching contributions on the participant's behalf of up to 50.00% of the first 10.00% of the participant's annual compensation. The Company made gross contributions of approximately $523,000, $424,000 and $356,000 for the 12 months ended December 31, 2004, 2003 and 2002, respectively.

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