Dustin Norris - Jun 2, 2022 Form 4 Insider Report for HIGHLAND INCOME FUND\MA (HFRO)

Role: Executive Vice President
Signature: /s/ Dustin Norris
Stock symbol: HFRO
Transactions as of: Jun 2, 2022
Transactions value $: $0
Form type: 4
Date filed: 6/30/2022, 07:26 PM
Previous filing: Oct 28, 2021
Next filing: Jan 5, 2023

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	HFRO	Contingent Bonus Award	Award		+42.4K			42.4K	Jun 2, 2022	Common Stock	42.4K		Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	Each share of the contingent bonus award is the economic equivalent of one share of the Issuer's common stock.
F2	The Contingent Bonus Award is granted by NexPoint Advisors, L.P. ("NexPoint") to the Reporting Person for service as an employee of NexPoint. Each share of the Contingent Bonus Award is the economic equivalent of one share of Issuer common stock. The shares become payable, in cash or common stock, on May 31, 2025. These awards will terminate if the Reporting Person's employment with NexPoint is terminated.

Content

Each share of the contingent bonus award is the economic equivalent of one share of the Issuer's common stock.

The Contingent Bonus Award is granted by NexPoint Advisors, L.P. ("NexPoint") to the Reporting Person for service as an employee of NexPoint. Each share of the Contingent Bonus Award is the economic equivalent of one share of Issuer common stock. The shares become payable, in cash or common stock, on May 31, 2025. These awards will terminate if the Reporting Person's employment with NexPoint is terminated.