James Dondero - Feb 21, 2023 Form 4 Insider Report for NexPoint Real Estate Finance, Inc. (NREF)

Role
President, Director, 10%+ Owner
Signature
/s/ Brian Mitts, as attorney-in-fact for James Dondero
Stock symbol
NREF
Transactions as of
Feb 21, 2023
Transactions value $
$0
Form type
4
Date filed
2/23/2023, 04:21 PM
Previous filing
Feb 22, 2023
Next filing
Mar 9, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NREF Common Stock Options Exercise +17.3K +33.97% 68.3K Feb 21, 2023 Direct F1
transaction NREF Common Stock Options Exercise +15.8K +23.2% 84.1K Feb 22, 2023 Direct F1
holding NREF Common Stock 5.69M Feb 21, 2023 See Footnote F2
holding NREF Common Stock 2.86M Feb 21, 2023 See Footnote F3
holding NREF Common Stock 185K Feb 21, 2023 See Footnote F4, F5
holding NREF Common Stock 1.8K Feb 21, 2023 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 -17.3K -25% $0.00 51.9K Feb 21, 2023 Common Stock 17.3K Direct F1, F7
transaction NREF Restricted Stock Units Options Exercise $0 -15.8K -33.33% $0.00 31.7K Feb 22, 2023 Common Stock 15.8K 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 Real Estate Finance, Inc.
F2 1,322,385 shares are held by Highland Global Allocation Fund and 4,372,285 shares are held by Highland Income Fund. These entities are managed by NexPoint Asset Management, L.P. ("NexPoint Asset Management"). Mr. Dondero is the sole stockholder and director of Strand Advisors XVI, Inc., NexPoint Asset Management's general partner, and may be deemed to be an indirect beneficial owner of securities held by NexPoint Asset Management. Mr. Dondero disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.
F3 2,100,000 shares are held by NexPoint Real Estate Opportunities, LLC, which is wholly owned by NexPoint Diversified Real Estate Trust Operating Partnership, L.P., which is wholly owned by NexPoint Diversified Real Estate Trust, 281,817 shares are held by NexPoint Real Estate Strategies Fund and 481,668 shares are held by NexPoint Capital, Inc. These entities are managed or advised, directly or indirectly, 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 securities held by NP. Mr. Dondero disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.
F4 Includes shares acquired under dividend reinvestment plan.
F5 29,207 shares are held by a company which is an indirect wholly owned subsidiary of a trust of which Mr. Dondero is the beneficiary. The remaining shares of common stock are held directly by the trust. Mr. Dondero disclaims beneficial ownership of the shares held directly or indirectly by the trust except to the extent of his pecuniary interest therein.
F6 These shares are held by a limited liability company in which the trust referenced in footnote 5 to this Form 4 owns a majority interest. Mr. Dondero disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
F7 On February 21, 2022, the reporting person was granted 69,235 restricted stock units. The restricted stock units vested one-fourth on February 21, 2023 and will vest one-fourth on February 21, 2024, one-fourth on February 21, 2025, and one-fourth on February 21, 2026. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.
F8 On February 22, 2021, the reporting person was granted 63,357 restricted stock units. The restricted stock units vested one-fourth on February 22, 2022 and one-fourth on February 22, 2023 and will vest one-fourth on February 22, 2024 and one-fourth on February 22, 2025. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.