X0304 4 2012-02-17 0 0001095651 ISTAR FINANCIAL INC SFI 0001219403 MATIS NINA 1114 AVENUE OF THE AMERICAS, 39TH FLOOR NEW YORK NY 10036 0 1 0 0 Chief Legal Officer & CIO Common Stock 2012-02-17 5 A 0 E 178388 0 A 372161 D Common Stock 2012-02-17 5 F 0 E 89764 0 D 372161 D Restricted Stock Units 319260 D Effective February 17, 2012, the Reporting Person, Ms. Nina Matis, acquired 178,388 shares of iStar common stock upon the vesting of Restricted Stock Units (Units) pursuant to an award dated March 17, 2010. After deducting 89,764 shares for applicable tax withholding, the Reporting Person acquired a net amount of 88,624 shares of iStar common stock. Following the transactions reported in this Form 4, the Reporting Person is the beneficial owner of a total of 372,161 shares of iStar common stock, which are owned directly. The Reporting Person is also the holder of 319,260 Units representing the right to receive an equivalent number of shares of iStar common stock (net of shares deducted for taxes and other withholdings) if and when the Units vest. s/ Nina B Matis 2012-02-23