James Dondero - May 11, 2023 Form 4 Insider Report for NexPoint Residential Trust, Inc. (NXRT)

Role: President, Director, 10%+ Owner
Signature: /s/ Brian Mitts as attorney-in-fact for James D. Dondero
Stock symbol: NXRT
Transactions as of: May 11, 2023
Transactions value $: $0
Form type: 4
Date filed: 5/15/2023, 04:18 PM
Previous filing: May 10, 2023
Next filing: May 22, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NXRT	Common Stock	Options Exercise		+6.78K	+14.5%		53.5K	May 11, 2023	Direct	F1, F2
holding	NXRT	Common Stock						2.19M	May 11, 2023	By trust	F2, F3
holding	NXRT	Common Stock						150K	May 11, 2023	By NexPoint Advisors, L.P.	F2, F4
holding	NXRT	Common Stock						360K	May 11, 2023	See Footnote	F2, F5
holding	NXRT	Common Stock						12.7K	May 11, 2023	See Footnote	F2, F6
holding	NXRT	Common Stock						63.7K	May 11, 2023	See Footnote	F7
holding	NXRT	Common Stock						32.7K	May 11, 2023	By 401(k)	F2

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	-33.33%	$0.00	13.6K	May 11, 2023	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	These shares are held by a trust. Mr. Dondero disclaims beneficial ownership of such shares.
F4	36,822 shares are held by NexPoint Real Estate Strategies Fund, 89,590 shares are held by NexPoint Diversified Real Estate Trust and 23,409 shares are held by NexPoint Capital, Inc. These entities are managed 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.
F5	188,175 shares are held by Highland Income Fund and 172,028 shares are held by Highland Global Allocation Fund. These entities are managed by NexPoint Asset Management, L.P., 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.
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 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.
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, one-fifth on May 11, 2023, and will vest 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.