Getty Realty (GTY) director reports gifts and family trust share transfers
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Getty Realty director Howard B. Safenowitz reported a set of non-market transactions involving Getty Realty Corp. common stock. The filing shows a bona fide gift of 3,119 shares to adult children at no price, reducing his direct holdings to 148,682 shares.
In addition, several large "J" code transactions reflect transfers among family entities in connection with the estate administration of Marilyn Safenowitz. These include movements of more than 2.4 million shares through a limited partnership and multiple irrevocable trusts, with Safenowitz acting as fiduciary and, in some cases, beneficiary. He disclaims beneficial ownership of shares held by the Safenowitz Partners limited partnership except to the extent of his pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
3,119 shares gifted
Mixed
5 txns
Insider
SAFENOWITZ HOWARD B
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Common Stock | 3,119 | $0.00 | -- |
| Other | Common Stock | 1,848,092 | $0.00 | -- |
| Other | Common Stock | 616,031 | $0.00 | -- |
| Other | Common Stock | 16,440 | $0.00 | -- |
| Other | Common Stock | 5,480 | $0.00 | -- |
Holdings After Transaction:
Common Stock — 148,682 shares (Direct, null);
Common Stock — 0 shares (Indirect, By Ltd Partnership)
Footnotes (1)
- Gifts to adult children. This share number reflects a reduction of 300 shares to correct a clerical discrepancy in prior filings. Transfer of shares by Safenowitz Partners LP ("SP") to multiple family irrevocable trusts in connection with the administration of the estate of Marilyn Safenowitz, with reporting person serving as estate fiduciary. The reporting person is the President of Safenowitz Family Corp. ("SFC"), which is the general partner of SP. The reporting person disclaims beneficial ownership of the shares held by SP, except to the extent of his pecuniary interest therein. Shares received by The Howard Safenowitz 2024 Irrevocable Trust U/A/D 10/14/24 (the "HSIT") as proportionate distribution by SP in connection with the estate administration process described in footnote 2. The reporting person is the sole beneficiary and trustee of HSIT. Transfer of shares by The Marilyn Safenowitz Irrevocable Trust U/A/D 4/13/00 ("MSIT") to multiple family irrevocable trusts, in connection with the estate administration process described in footnote 2. This share number reflects a reduction of 76 shares to correct a clerical discrepancy in prior filings. Reporting person is the Trustee of MSIT. Shares received by HSIT as proportionate distribution by MSIT in connection with the estate administration process described in footnote 2.
Key Figures
Gifted shares: 3,119 shares
Direct holdings after gift: 148,682 shares
Restructuring-related shares: 2,486,043 shares
+2 more
5 metrics
Gifted shares
3,119 shares
Bona fide gift of common stock at $0.00 per share
Direct holdings after gift
148,682 shares
Common stock held directly following reported gift
Restructuring-related shares
2,486,043 shares
Total shares in restructuring-type transactions per summary
Trust holding after transfer
746,942 shares
Common stock held indirectly "By Trust" after one J-code transfer
Trust holding after second transfer
741,462 shares
Common stock held indirectly "By Trust" after another J-code transfer
Key Terms
bona fide gift, Other acquisition or disposition, irrevocable trust, pecuniary interest, +1 more
5 terms
bona fide gift financial
"transaction_code_description": "Bona fide gift""
A bona fide gift is a genuine, voluntary transfer of money, property, or benefits from one party to another made without expectation of repayment, services, or hidden conditions. Investors care because such gifts can affect company disclosures, related‑party transaction rules, tax treatment, and perceived conflicts of interest; think of it like someone giving you a present with no strings attached — but on a corporate scale, auditors and regulators need to verify it really is unconditional.
Other acquisition or disposition financial
"transaction_code_description": "Other acquisition or disposition""
irrevocable trust financial
"multiple family irrevocable trusts in connection with the administration"
An irrevocable trust is a legal arrangement where an owner transfers assets into a separate entity managed by a trustee and gives up the power to modify or reclaim those assets. For investors it matters because putting stock or other holdings into such a trust can change who controls and benefits from the assets, affect taxes and creditor protection, and influence how easy it is to sell or value those holdings—like placing valuables in a locked safe overseen by someone else.
pecuniary interest financial
"except to the extent of his pecuniary interest therein"
estate administration financial
"in connection with the administration of the estate of Marilyn Safenowitz"
FAQ
What insider transactions did Howard Safenowitz report in GTY stock?
Howard Safenowitz reported a mix of gifts and family-entity transfers in Getty Realty (GTY) shares. The filing shows a bona fide gift of 3,119 shares and several large "J" code restructuring transactions among a limited partnership and multiple irrevocable family trusts.
What are Howard Safenowitz’s direct Getty Realty (GTY) holdings after these transactions?
After the reported transactions, Howard Safenowitz holds 148,682 GTY shares directly. This post-transaction balance reflects the impact of the 3,119-share gift, as shown in the filing’s direct ownership line for common stock.
What do the "J" code transactions mean in the GTY Form 4 filing?
The "J" code in the GTY Form 4 indicates other acquisitions or dispositions. Here, those entries reflect transfers among a limited partnership and several irrevocable family trusts tied to estate administration, rather than open-market trading in Getty Realty shares.