Dustin Norris - Jun 15, 2021 Form 4 Insider Report for HIGHLAND INCOME FUND\MA (HFRO)

Role: Executive Vice President
Signature: /s/ Dustin Norris
Stock symbol: HFRO
Transactions as of: Jun 15, 2021
Transactions value $: $0
Form type: 4
Date filed: 6/17/2021, 08:45 PM
Previous filing: Jun 10, 2021
Next filing: Aug 16, 2021

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	HFRO	Contingent Bonus Award	Other	$0	+27.3K		$0.00	27.3K	Jun 15, 2021	Common Stock	27.3K		Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The Contingent Bonus Award is granted by NexPoint Advisors, L.P. ("NexPoint") to the Reporting Person for service as an employee of NexPoint. Each share of the Contingent Bonus Award is the economic equivalent of one share of Issuer common stock. The shares become payable, in cash or common stock, on May 31, 2024. These awards will terminate if the Reporting Person's employment with NexPoint is terminated.

Content

The Contingent Bonus Award is granted by NexPoint Advisors, L.P. ("NexPoint") to the Reporting Person for service as an employee of NexPoint. Each share of the Contingent Bonus Award is the economic equivalent of one share of Issuer common stock. The shares become payable, in cash or common stock, on May 31, 2024. These awards will terminate if the Reporting Person's employment with NexPoint is terminated.