James Dondero - May 11, 2021 Form 4 Insider Report for NexPoint Residential Trust, Inc. (NXRT)

Role: President, Director, 10%+ Owner
Signature: /s/ Brian Mitts, as attorney-in-fact
Stock symbol: NXRT
Transactions as of: May 11, 2021
Transactions value $: $0
Form type: 4
Date filed: 5/13/2021, 07:25 PM
Previous filing: Nov 1, 2021
Next filing: Jun 9, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NXRT	Common Stock	Options Exercise		+6.78K	+3.67%		191K	May 11, 2021	Direct	F1
holding	NXRT	Common Stock						144K	May 11, 2021	By NexPoint Advisors, L.P.	F2
holding	NXRT	Common Stock						339K	May 11, 2021	By Highland Capital Management Fund Advisors, L.P.	F3
holding	NXRT	Common Stock						29.1K	May 11, 2021	By employee benefit plan	F4
holding	NXRT	Common Stock						17K	May 11, 2021	By limited liability company	F5
holding	NXRT	Common Stock						1.84M	May 11, 2021	By trust	F6

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	NXRT	Restricted Stock Units	Options Exercise	$0	-6.78K	-20%	$0.00	27.1K	May 11, 2021	Common Stock	6.78K		Direct	F1, F7

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

Explanation of Responses:

Id	Content
F1	Each restricted stock unit represents a contingent right to receive one share of common stock of NexPoint Residential Trust, Inc.
F2	These shares are held by NexPoint Advisors, L.P. ("NP") indirectly through advised accounts. Mr. Dondero is the sole member of NP's general partner, and may be deemed to be an indirect beneficial owner of shares held by NP. Mr. Dondero disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
F3	These shares are held by Highland Capital Management Fund Advisors, L.P. ("HCMFA") indirectly through advised accounts. Mr. Dondero is the sole stockholder and director of Strand Advisors XVI, Inc., HCMFA's general partner, and may be deemed to be an indirect beneficial owner of shares held by HCMFA. Mr. Dondero disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
F4	Includes shares acquired through the issuer's employee benefit plan.
F5	These shares are held by a limited liability company in which the trust referenced in footnote 6 to this Form 4 owns a majority interest. Mr. Dondero disclaims beneficial ownership of such shares.
F6	These shares are held by a trust pursuant to an employee purchase plan. Mr. Dondero disclaims beneficial ownership of such shares.
F7	On May 11, 2020, the reporting person was granted 33,895 restricted stock units which vested one-fifth on May 11, 2021, and will vest one-fifth on May 11, 2022, one-fifth on May 11, 2023, one-fifth on May 11, 2024 and one-fifth on May 11, 2025. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.