Sternlicht Receives 343,746 Starwood REIT Shares In Place Of Cash Fees
His reported indirect holding in Starwood Real Estate Income Trust now stands at 7,842,755 shares.
Barry Sternlicht, chairman and CEO of Starwood Property Trust, received 343,746 Class I common shares of Starwood Real Estate Income Trust on October 20, a Form 4 filed Thursday shows. The shares were paid to the trust's advisor to settle management fees.
Fees paid in stock
Per the filing, the advisory agreement lets the trust pay the advisor's fees in stock, and this award did so. A Form 4 is the report insiders file after a transaction.
Sternlicht reports the shares as indirectly held, through Starwood REIT Advisors, Starwood Real Estate Income Holdings and himself.
A 7.8 million-share indirect stake
After the grant, 7,842,755 shares remain on that indirect ownership line, and none are listed as held directly. The total includes shares acquired through the trust's distribution reinvestment plan.
Sternlicht holds 4,808,086 of those reportable shares in his own name.
Sternlicht personally owns 4,808,086 of the 7,842,755 shares on the reported line.
Sources
- Form 4 — Barry Sternlicht (N/A) — SEC EDGAR
