Dennis Charles Sauter Jr. - 24 Jun 2021 Form 4 Insider Report for NexPoint Real Estate Finance, Inc. (NREF)

Role: General Counsel
Signature: /s/ Brian Mitts, as attorney-in-fact for D.C. Sauter
Issuer symbol: NREF
Transactions as of: 24 Jun 2021
Net transactions value: $0
Form type: 4
Filing time: 28 Jun 2021, 18:00:31 UTC
Previous filing: 13 May 2021
Next filing: 22 Feb 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NREF	Common Stock	Options Exercise		+1,445			1,445	24 Jun 2021	Direct	F1

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	NREF	Restricted Stock Units	Options Exercise	$0	-1,445	-25%	$0.000000	4,335	24 Jun 2021	Common Stock	1,445		Direct	F1, F2

* 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 Real Estate Finance, Inc.
F2	On June 24, 2020, the reporting person was granted 5,780 restricted stock units. The restricted stock units vested one-fourth on June 24, 2021, and will vest one-fourth on May 8, 2022, one-fourth on May 8, 2023 and one-fourth on May 8, 2024. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.