James Dondero - May 11, 2022 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, 2022
Transactions value $: $0
Form type: 4
Date filed: 5/13/2022, 07:55 PM
Previous filing: May 10, 2022
Next filing: Jun 10, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NXRT	Common Stock	Options Exercise		+6.78K	+12.52%		60.9K	May 11, 2022	Direct	F1, F2
holding	NXRT	Common Stock						147K	May 11, 2022	By NexPoint Advisors, L.P.	F2, F3
holding	NXRT	Common Stock						349K	May 11, 2022	See Footnote	F2, F4
holding	NXRT	Common Stock						2.02M	May 11, 2022	By trust	F2, F5
holding	NXRT	Common Stock						12.2K	May 11, 2022	See Footnote	F2, F6
holding	NXRT	Common Stock						63.7K	May 11, 2022	See Footnote	F7
holding	NXRT	Common Stock						30.5K	May 11, 2022	By 401(k)

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	-25%	$0.00	20.3K	May 11, 2022	Common Stock	6.78K		Direct	F1, F8

* 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	Includes shares acquired under a dividend reinvestment plan.
F3	36,822 shares are held by NexPoint Real Estate Strategies Fund, 86,648 shares are held by NexPoint Strategic Opportunities Fund and 23,268 shares are held by NexPoint Capital, Inc. These entities are managed by by NexPoint Advisors, L.P. ("NP"). 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.
F4	166,376 shares are held by Highland Global Allocation Fund, 28,317 shares are held by Highland Small-Cap Equity Fund and 153,908 shares are held by Highland Income Fund. These entities are managed by Highland Capital Management Fund Advisers, which is ultimately controlled by Mr. Dondero. Mr. Dondero may be deemed to be an indirect beneficial owner of shares held by such entities. Mr. Dondero disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
F5	These shares are held by a trust. Mr. Dondero disclaims beneficial ownership of such shares.
F6	These shares are held through PCMG Trading Partners XXIII, L.P. ("PCMG"). The reporting person may be deemed to be an indirect beneficial owner of the shares held by PCMG. The reporting person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
F7	These shares are held by subsidiaries of the trust referenced in footnote 5 to this Form 4. Mr. Dondero disclaims beneficial ownership of such shares.
F8	On May 11, 2020, the reporting person was granted 33,895 restricted stock units which vested one-fifth on May 11, 2021 and one-fifth on May 11, 2022, and will vest 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.