X0306 4 2018-05-10 0 0001679688 Colony NorthStar, Inc. CLNS 0001373619 Steffens John C/O COLONY NORTHSTAR, INC. 515 S. FLOWER ST., 44TH FLOOR LOS ANGELES CA 90071 1 0 0 0 Deferred Stock 2018-05-10 4 A 0 25197 A Class A Common Stock 25197 50922 D Deferred stock units ("Deferred Stock") have no expiration date and are payable in shares of the Issuer's Class A Common Stock, on a one-for-one basis, after the reporting person's separation from service with the Issuer. The Deferred Stock was granted by the Issuer in respect of the reporting person's election to defer equity compensation payable in accordance with the Issuer's non-executive director compensation policy in connection with the reporting person's recent re-election to the Issuer's board of directors. The Deferred Stock is scheduled to vest on May 10, 2019.The amount of Deferred Stock was determined by dividing the fixed grant value of $160,000 by the closing price of the Issuer's common stock on the New York Stock Exchange on the business day prior to the grant date. See Exhibit 24 - Power of Attorney /s/ Jenny B. Neslin, as Attorney-in-fact 2018-05-14