Paul Richards - 02 Apr 2026 Form 4 Insider Report for NexPoint Real Estate Finance, Inc. (NREF)

Reporting relationship: Chief Financial Officer, Executive VP-Finance, Assistant Secretary and Treasurer
Issuer ticker: NREF
Reported as of: 02 Apr 2026
Net transaction value: $0
SEC form: 4
Accepted by SEC: 06 Apr 2026, 21:44:48 UTC
Prior SEC filing: 31 Mar 2026
Next SEC filing: 07 Apr 2026
Source filing: View source filing
Reporting owner signature: /s/ Paul Richards

Key filing fact

Paul Richards filed Form 4 for NexPoint Real Estate Finance, Inc. (NREF) on 06 Apr 2026.

Key facts

This page summarizes Paul Richards's Form 4 filing for NexPoint Real Estate Finance, Inc. (NREF).
7 reported transactions and 3 derivative rows are listed below.
Accepted by SEC: 06 Apr 2026, 21:44.

Change

Previous filing in this sequence was filed on 31 Mar 2026.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0002034963 Primary reporting owner

Richards Paul

Relationship: Chief Financial Officer, Executive VP-Finance, Assistant Secretary and Treasurer
Address: 300 CRESCENT COURT, SUITE 700, DALLAS
Signature: /s/ Paul Richards
Signature date: 06 Apr 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

NREF transaction

Common Stock

Options Exercise

Transaction value
Shares: +15,087
Change %: +28%
Price
Shares after: 69,667
Date: 03 Apr 2026
Ownership: Direct
Footnotes: F1

NREF transaction

Common Stock

Tax liability

Transaction value
Shares: -6,825
Change %: -9.8%
Price: $13.36^*
Shares after: 62,842
Date: 03 Apr 2026
Ownership: Direct

NREF transaction

Common Stock

Options Exercise

Transaction value
Shares: +6,894
Change %: +11%
Price
Shares after: 69,736
Date: 04 Apr 2026
Ownership: Direct
Footnotes: F1

NREF transaction

Common Stock

Tax liability

Transaction value
Shares: -4,044
Change %: -5.8%
Price: $13.36^*
Shares after: 65,692
Date: 04 Apr 2026
Ownership: Direct

NREF holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 7,498
Date: 02 Apr 2026
Ownership: By 401(k) plan.

NREF holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 879
Date: 02 Apr 2026
Ownership: By IRA.

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

NREF transaction Derivative

Restricted Stock Units

Award

Transaction value
Shares: +61,347
Change %
Price: $0.000000^*
Shares after: 61,347
Date: 02 Apr 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 61,347
Exercise price
Footnotes: F1, F2

NREF transaction Derivative

Restricted Stock Units

Options Exercise

Transaction value
Shares: -15,087
Change %: -25%
Price: $0.000000^*
Shares after: 45,258
Date: 03 Apr 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 15,087
Exercise price
Footnotes: F1, F3

NREF transaction Derivative

Restricted Stock Units

Options Exercise

Transaction value
Shares: -6,894
Change %: -50%
Price: $0.000000^*
Shares after: 6,894
Date: 04 Apr 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 6,894
Exercise price
Footnotes: F1, F4

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 4 footnotes

Footnote F1

Each restricted stock unit represents a contingent right to receive one share of common stock of NexPoint Real Estate Finance, Inc.

Footnote F2

On April 2, 2026, the reporting person was granted 61,347 restricted stock units. The restricted stock units vest one-fourth on April 2, 2027, one-fourth on February 15, 2028, one-fourth on February 15, 2029 and one-fourth on February 15, 2030. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

Footnote F3

On April 3, 2025, the reporting person was granted 60,345 restricted stock units. The restricted stock units vested one-fourth on April 3, 2026 and will vest one-fourth on February 15, 2027, one-fourth on February 15, 2028 and one-fourth on February 15, 2029. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

Footnote F4

On April 4, 2023, the reporting person was granted 27,578 restricted stock units. The restricted stock units vested one-fourth on April 4, 2024, one-fourth on April 4, 2025 and one-fourth on April 4, 2026 and will vest 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.

SEC remarks

Chief Financial Officer, Executive VP-Finance, Assistant Secretary and Treasurer