James D. Dondero - 24 Jun 2021 Form 4 Insider Report for NexPoint Real Estate Finance, Inc. (NREF)

Role: President, Director
Signature: /s/ Brian Mitts, as attorney-in-fact for James Dondero
Issuer symbol: NREF
Transactions as of: 24 Jun 2021
Net transactions value: $0
Form type: 4
Filing time: 28 Jun 2021, 18:02:30 UTC
Previous filing: 16 Aug 2021
Next filing: 29 Jun 2021
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		+17,558			17,558	24 Jun 2021	Direct	F1
holding	NREF	Common Stock						159,131	24 Jun 2021	See Footnote	F2, F3
holding	NREF	Common Stock						138,753	24 Jun 2021	See Footnote	F4
holding	NREF	Common Stock						1,800	24 Jun 2021	See Footnote	F5
holding	NREF	Common Stock						65,700	24 Jun 2021	See Footnote	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	NREF	Restricted Stock Units	Options Exercise	$0	-17,558	-25%	$0.000000	52,673	24 Jun 2021	Common Stock	17,558		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 Real Estate Finance, Inc.
F2	Includes shares acquired under the issuer's dividend reinvestment plan.
F3	These shares are held by a trust, of which Mr. Dondero is the beneficiary. Mr. Dondero disclaims beneficial ownership of such shares.
F4	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.
F5	These shares are held by a limited liability company in which the trust referenced in footnote 3 to this Form 4 owns a majority interest. Mr. Dondero disclaims beneficial ownership of such shares.
F6	These shares are held by NexPoint Advisors, L.P. ("NP") indirectly through an advised account. 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.
F7	On June 24, 2020, the reporting person was granted 70,231 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.