James Dondero - Sep 28, 2022 Form 4 Insider Report for NEXPOINT DIVERSIFIED REAL ESTATE TRUST (NXDT)

Role: President, Director, 10%+ Owner
Signature: /s/ James D. Dondero
Stock symbol: NXDT
Transactions as of: Sep 28, 2022
Transactions value $: $633,590
Form type: 4
Date filed: 9/29/2022, 04:55 PM
Previous filing: Sep 28, 2022
Next filing: Sep 30, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NXDT	Common Stock	Purchase	$634K	+49.4K	+1.36%	$12.82	3.69M	Sep 28, 2022	See Footnote	F1
holding	NXDT	Common Stock						86.1K	Sep 28, 2022	Direct
holding	NXDT	Common Stock						1.83M	Sep 28, 2022	See Footnote	F2
holding	NXDT	Common Stock						239K	Sep 28, 2022	See Footnote	F3
holding	NXDT	Common Stock						509K	Sep 28, 2022	See Footnote	F4
holding	NXDT	Common Stock						60.5K	Sep 28, 2022	By employee benefit plan

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

Explanation of Responses:

Id	Content
F1	These shares are held by The Dugaboy Investment Trust pursuant to an employee purchase plan. Mr. Dondero disclaims beneficial ownership of such shares.
F2	549,863 shares are held by Highland Global Allocation Fund, 118,673 shares are held by Highland Small-Cap Equity Fund and 1,156,943 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.
F3	63,298.59 shares are held by PCMG Trading Partners XXIII, L.P. and 175,780 shares are held by Governance Re Ltd. These entities are 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.
F4	These shares are held by subsidiaries of The Dugaboy Investment Trust. Mr. Dondero disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

Remarks:

President