Matt McGraner - Apr 4, 2023 Form 4 Insider Report for NEXPOINT DIVERSIFIED REAL ESTATE TRUST (NXDT)

Role: Executive VP, Chief Investment Officer and Secretary
Signature: /s/ Brian Mitts, as attorney-in-fact for Matt McGraner
Stock symbol: NXDT
Transactions as of: Apr 4, 2023
Transactions value $: $0
Form type: 4
Date filed: 4/6/2023, 04:06 PM
Previous filing: Mar 29, 2023
Next filing: Apr 13, 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	NXDT	Restricted Shares Units	Award	$0	+180K		$0.00	180K	Apr 4, 2023	Common Shares	180K		Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.
F2	On April 4, 2023, the reporting person was granted 180,498 restricted shares units. The restricted shares units will vest one-fourth on April 4, 2024, one-fourth on April 4, 2025, one-fourth on April 4, 2026, and one-fourth on April 4, 2027. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

Remarks:

Executive VP, Chief Investment Officer and Secretary