| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | NREF | Common Stock | Award | $94.6M | +4.5M | +375.73% | $21.04 | 5.69M | Jan 7, 2022 | See Footnote | F1 |
| transaction | NREF | Common Stock | Award | $5.83M | +277K | +56.92% | $21.04 | 763K | Jan 7, 2022 | See Footnote | F2 |
| holding | NREF | Common Stock | 17.6K | Dec 16, 2021 | Direct | ||||||
| holding | NREF | Common Stock | 165K | Dec 16, 2021 | See Footnote | F3, F4 | |||||
| holding | NREF | Common Stock | 1.8K | Dec 16, 2021 | See Footnote | F5 |
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | NREF | Class C OP Units | Gift | $0 | -395K | -100% | $0.00* | 0 | Dec 16, 2021 | Common Stock | 395K | Direct | F6, F7, F8 | |
| transaction | NREF | Class B OP Units | Award | $78.3M | +3.72M | +114.6% | $21.04 | 6.97M | Jan 7, 2022 | Common Stock | 3.72M | See Footnote | F2, F6, F7 | |
| transaction | NREF | Class C OP Units | Award | $94.6M | +4.5M | $21.04 | 4.5M | Jan 7, 2022 | Common Stock | 4.5M | See Footnote | F1, F6, F7 | ||
| transaction | NREF | Class C OP Units | Award | $5.83M | +277K | $21.04 | 277K | Jan 7, 2022 | Common Stock | 277K | See Footnote | F2, F6, F7, F9 | ||
| transaction | NREF | Class C OP Units | Disposed to Issuer | -$94.6M | -4.5M | -100% | $21.04 | 0 | Jan 7, 2022 | Common Stock | 4.5M | See Footnote | F1, F6, F7, F10 | |
| transaction | NREF | Class C OP Units | Disposed to Issuer | -$5.83M | -277K | -100% | $21.04 | 0 | Jan 7, 2022 | Common Stock | 277K | See Footnote | F2, F6, F7, F10 |
| Id | Content |
|---|---|
| F1 | These securities 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 securities held by HCMFA. Mr. Dondero disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein. |
| F2 | These securities 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 securities held by NP. Mr. Dondero disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein. |
| F3 | Includes shares acquired under dividend reinvestment plan. |
| F4 | These securities are held by a trust, of which Mr. Dondero is the beneficiary. Mr. Dondero disclaims beneficial ownership of such securities. |
| F5 | These shares are held by a limited liability company in which the trust referenced in footnote 4 to this Form 4 owns a majority interest. Mr. Dondero disclaims beneficial ownership of such shares. |
| F6 | Represents common units of limited partnership interest ("OP Units") in NexPoint Real Estate Finance Operating Partnership, L.P., the operating partnership (the "OP") of the NexPoint Real Estate Finance, Inc. (the "Issuer"). |
| F7 | The OP Units are redeemable, subject to certain requirements, for cash or, at the election of the Issuer, for shares of the Issuer's common stock on a one-for-one basis. The OP Units were vested as of the date of issuance and have no expiration date. |
| F8 | Includes 395,033.86 Class C OP Units previously held by the trust referenced in footnote 4 to this Form 4 which were transferred to the reporting person on December 16, 2021 and prior to the transaction were directly owned. |
| F9 | The Reporting Person's acquisition of Class C OP Units reported herein was matchable under Section 16(b) of the Securities Exchange Act of 1934. The Reporting Person has disgorged $15,975.28 to NexPoint Residential Trust, Inc., representing the full amount of his pecuniary interest in the deemed profit realized in connection with the short-swing transaction. |
| F10 | OP Units were redeemed for cash. |