James Dondero - Oct 25, 2023 Form 4 Insider Report for NEXPOINT DIVERSIFIED REAL ESTATE TRUST (NXDT)

Role
President, Director, 10%+ Owner
Signature
/s/ James Dondero
Stock symbol
NXDT
Transactions as of
Oct 25, 2023
Transactions value $
$0
Form type
4
Date filed
10/27/2023, 04:31 PM
Previous filing
Oct 10, 2023
Next filing
Dec 12, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NXDT Common Stock Other +26.7K +9.14% 319K Oct 25, 2023 See Footnote F1, F2
transaction NXDT Common Stock Other +49.1K +15.4% 368K Oct 25, 2023 See Footnote F2, F3
transaction NXDT Common Stock Other +55.2K +14.98% 423K Oct 25, 2023 See Footnote F2, F4
holding NXDT Common Stock 1.85M Oct 25, 2023 See Footnote F5
holding NXDT Common Stock 91.6K Oct 25, 2023 Direct
holding NXDT Common Stock 4.08M Oct 25, 2023 See Footnote F6
holding NXDT Common Stock 520K Oct 25, 2023 See Footnote F7
holding NXDT Common Stock 63.9K Oct 25, 2023 By employee benefit plan
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Under the terms of the Advisory Agreement, dated July 1, 2022, by and between NexPoint Diversified Real Estate Trust (the "Company") and NexPoint Real Estate Advisers X, L.P. (the "Adviser"), as amended by that First Amendment to Advisory Agreement dated October 25, 2022, and as amended by that Second Amendment to Advisory Agreement, dated April 11, 2023 (the "Advisory Agreement"), the Adviser may elect to receive payment for a portion of its monthly fees under the Advisory Agreement in common shares of the Company. Such common shares received as payment are valued at the volume-weighted average price ("VWAP") of the shares for the 10 trading days prior to the end of the month for which such fees will be paid. The Company issued 26,726.38 common shares to the Adviser as payment of its fees for the month of July at a VWAP of $12.3099 per share.
F2 32,082 shares are held by Drugcrafters, L.P. ("Drugcrafters"), 67,819.68 shares are held by PCMG Trading Partners XXIII, L.P., 177,811 shares are held by Governance Re Ltd. and 145,747.99 shares (following the acquisitions described herein) are held by the Adviser. 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.
F3 Under the terms of the Advisory Agreement, the Adviser may elect to receive payment for a portion of its monthly fees under the Advisory Agreement in common shares of the Company. Such common shares received as payment are valued at the VWAP of the shares for the 10 trading days prior to the end of the month for which such fees will be paid. The Company issued 49,143.08 common shares to the Adviser as payment of its fees for the month of August at a VWAP of $9.8562 per share.
F4 Under the terms of the Advisory Agreement, the Adviser may elect to receive payment for a portion of its monthly fees under the Advisory Agreement in common shares of the Company. Such common shares received as payment are valued at the VWAP of the shares for the 10 trading days prior to the end of the month for which such fees will be paid. The Company issued 55,161.78 common shares to the Adviser as payment of its fees for the month of September at a VWAP of $8.7226.
F5 1,290,361 shares are held by Highland Opportunities and Income Fund and 556,218 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.
F6 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.
F7 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.

Remarks:

President