James Dondero - May 24, 2023 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: May 24, 2023
Transactions value $: $2,743
Form type: 4
Date filed: 5/26/2023, 04:16 PM
Previous filing: May 24, 2023
Next filing: May 30, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NXDT	5.50% Series A Cumulative Preferred Shares	Purchase	$2.74K	+180	+1.14%	$15.24	16K	May 24, 2023	See Footnote	F1
holding	NXDT	5.50% Series A Cumulative Preferred Shares						46K	May 24, 2023	See Footnote	F2
holding	NXDT	5.50% Series A Cumulative Preferred Shares						13.8K	May 24, 2023	See Footnote	F3

* 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 Drugcrafters, L.P. ("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.
F2	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.
F3	These shares are held by Highland Global Allocation Fund, which is 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 shares held by NexPoint Asset Management. Mr. Dondero disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

Remarks:

President