James Dondero - May 22, 2023 Form 4 Insider Report for NEXPOINT DIVERSIFIED REAL ESTATE TRUST (NXDT)

Signature
/s/ James D. Dondero
Stock symbol
NXDT
Transactions as of
May 22, 2023
Transactions value $
$42,636
Form type
4
Date filed
5/24/2023, 04:37 PM
Previous filing
May 22, 2023
Next filing
May 26, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NXDT Common Stock Purchase $35.9K +3.55K +1.32% $10.13 273K May 22, 2023 See Footnote F1
transaction NXDT 5.50% Series A Cumulative Preferred Shares Purchase $6.73K +441 +2.86% $15.25 15.9K May 23, 2023 See Footnote F5
holding NXDT Common Stock 1.83M May 22, 2023 See Footnote F2
holding NXDT Common Stock 89.1K May 22, 2023 Direct
holding NXDT Common Stock 3.96M May 22, 2023 See Footnote F3
holding NXDT Common Stock 514K May 22, 2023 See Footnote F4
holding NXDT Common Stock 62.8K May 22, 2023 By employee benefit plan
holding NXDT 5.50% Series A Cumulative Preferred Shares 46K May 22, 2023 See Footnote F3
holding NXDT 5.50% Series A Cumulative Preferred Shares 13.8K May 22, 2023 See Footnote F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 31,556 shares are held by Drugcrafters, L.P. ("Drugcrafters"), 65,714.39 shares are held by PCMG Trading Partners XXIII, L.P. and 175,780 shares are held by Governance Re Ltd. Mr. Dondero owns 75% of PCMG Trading Partners XXIII, L.P. ("PCMG") and PCMG owns 99% of Drugcrafters. 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.
F2 1,275,616 shares are held by Highland Income Fund and 549,863 shares are held by Highland Global Allocation Fund. These entities are managed by NexPoint Asset Management, L.P. ("NexPoint Asset Management"), 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 These shares are held by The Dugaboy Investment Trust of which Mr. Dondero is the beneficiary pursuant to an employee purchase plan. 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.
F5 These shares are held by Drugcrafters. Mr. Dondero is the sole managing member of the general partner of Drugcrafters and may be deemed to be an indirect beneficial owner of shares held by Drugcrafters. Mr. Dondero disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
F6 These shares are held by Highland Global Allocation Fund, which is managed by 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 shares held by NexPoint Asset Management. The reporting person previously filed a Form 4 on May 22, 2023, which, due to a clerical error, overstated the number of shares held by Highland Global Allocation Fund by 2,407 shares and this report corrects such error. Mr. Dondero disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

Remarks:

President