Ramin Kamfar - 13 May 2025 Form 4 Insider Report for Bluerock Homes Trust, Inc. (BHM)

Role: Chairman and CEO
Signature: /s/ Christopher J. Vohs, Attorney-in-fact
Issuer symbol: BHM
Transactions as of: 13 May 2025
Net transactions value: $0
Form type: 4
Filing time: 14 May 2025, 16:01:05 UTC
Previous filing: 11 Mar 2025
Next filing: 20 Aug 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
KAMFAR RAMIN	Chairman and CEO	919 THIRD AVENUE, 40TH FLOOR, NEW YORK	/s/ Christopher J. Vohs, Attorney-in-fact	14 May 2025	0001111908

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	BHM	LTIP Units	Award		+14,603	+1.3%		1,175,224	13 May 2025	Class A Common Stock	14,603		Direct	F1

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

Explanation of Responses:

Id	Content
F1	Represents long-term incentive plan units ("LTIP Units") issued in partial satisfaction of the Issuer's Base Management Fee obligation to Bluerock Homes Manager, LLC (the "Manager") for the first quarter of 2025 and in satisfaction of the Manager's reimbursement obligation to its affiliate, Bluerock Real Estate Holdings, LLC ("BREH"), for a portion of the salary payable by BREH to the Reporting Person for the quarter ending March 31, 2025 for services provided to the Manager in the Reporting Person's capacity as Chief Executive Officer thereof. These LTIP Units were fully vested upon issuance, and may convert to OP Units upon reaching capital account equivalency with the OP Units held by the Issuer, and may then be redeemed for cash or, at the option of the Issuer and after a one year holding period (including any period during which the LTIP Units were held), settled in shares of the Issuer's Class A common stock on a one-for-one basis.

Content

Represents long-term incentive plan units ("LTIP Units") issued in partial satisfaction of the Issuer's Base Management Fee obligation to Bluerock Homes Manager, LLC (the "Manager") for the first quarter of 2025 and in satisfaction of the Manager's reimbursement obligation to its affiliate, Bluerock Real Estate Holdings, LLC ("BREH"), for a portion of the salary payable by BREH to the Reporting Person for the quarter ending March 31, 2025 for services provided to the Manager in the Reporting Person's capacity as Chief Executive Officer thereof. These LTIP Units were fully vested upon issuance, and may convert to OP Units upon reaching capital account equivalency with the OP Units held by the Issuer, and may then be redeemed for cash or, at the option of the Issuer and after a one year holding period (including any period during which the LTIP Units were held), settled in shares of the Issuer's Class A common stock on a one-for-one basis.