Bluerock Homes Trust (BHM) CFO receives 4,529 LTIP Units in equity grant

Rhea-AI Filing Summary

Bluerock Homes Trust, Inc. reported that CFO and Treasurer Christopher J. Vohs received a grant of 4,529 long-term incentive plan units (LTIP Units) in Bluerock Residential Holdings, LP, the company’s operating partnership. Following this award, he holds 38,870 LTIP Units directly.

The LTIP Units were issued as part of his annual equity incentive award for services to Bluerock Homes Manager, LLC and will vest in equal installments over three years starting on April 1, 2026. Once vested and after reaching capital account equivalency, the LTIP Units may convert into OP Units and then be redeemed for cash or, at the issuer’s option after a one-year holding period, settled in shares of Class A common stock on a one-for-one basis. He is entitled to distribution equivalents on these units, whether or not vested.

Insights

Equity compensation analyst

CFO receives routine equity award in LTIP Units with multi-year vesting.

The filing shows CFO Christopher J. Vohs received 4,529 LTIP Units as part of his annual equity incentive package for services to the external manager. The award increases his total LTIP holdings to 38,870 units, aligning compensation with long-term performance.

The LTIP Units vest ratably over three years from April 1, 2026, deferring full ownership. After vesting and capital account equivalency, they may convert into OP Units and ultimately Class A common stock on a one-for-one basis, subject to a one-year holding period.

The units also carry distribution equivalents, giving cash flow-like benefits even before vesting. Overall, this is a standard, compensation-related acquisition rather than a market purchase or sale, so it carries limited signaling value about management’s near-term view of the stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Vohs Christopher J.

Role CFO and Treasurer

Type	Security	Shares	Price	Value
Grant/Award	LTIP Units	4,529	$0.00	--

Holdings After Transaction: LTIP Units — 38,870 shares (Direct)

Footnotes (1)

1. Represents long-term incentive plan units ("LTIP Units") in Bluerock Residential Holdings, LP (the "Operating Partnership"), of which the Issuer is the general partner. The LTIP Units were issued at the direction of Bluerock Homes Manager, LLC (the "Manager"), in satisfaction of the Manager's reimbursement obligation to its affiliate, Bluerock Real Estate Holdings, LLC ("BREH") for the portion of the annual equity incentive award payable by BREH to the Reporting Person for services provided to the Manager in the Reporting Person's capacity as CFO and Treasurer thereof. Such LTIP Units will vest ratably on an annual basis over a three-year period from April 01, 2026. Once vested, these LTIP Units may convert to limited partnership interests of the Operating Partnership ("OP Units") upon reaching capital account equivalency with the OP Units held by the Issuer, and may then be redeemed for cash or, at the option of the Issuer and after a one year holding period (including any period during which the LTIP Units were held), settled in shares of the Issuer's Class A common stock on a one-for-one basis. The Reporting Person will be entitled to receive "distribution equivalents" with respect to such LTIP Units, whether or not vested, at the same time as distributions are paid to the holders of the Issuer's Class A common stock.

Key Figures

LTIP Units granted: 4,529 LTIP Units Total LTIP Units after grant: 38,870 LTIP Units Vesting period: 3 years +2 more

5 metrics

LTIP Units granted 4,529 LTIP Units Equity incentive award on April 1, 2026 grant date reference

Total LTIP Units after grant 38,870 LTIP Units Holdings following reported transaction

Vesting period 3 years Ratable annual vesting from April 1, 2026

Conversion ratio 1:1 Each LTIP Unit may ultimately settle into one share of Class A common stock

Holding period before stock settlement 1 year Minimum holding period before optional settlement in Class A common stock

Key Terms

LTIP Units, Operating Partnership, OP Units, distribution equivalents

4 terms

LTIP Units financial

"Represents long-term incentive plan units ("LTIP Units") in Bluerock Residential Holdings, LP"

LTIP units are awards given to executives and employees as part of a long-term incentive plan; they act like deferred bonuses that convert into company shares or cash only if the business meets set performance or time requirements. Investors care because LTIP units tie management pay to future results, can increase the number of outstanding shares (dilution) when they vest, and create ongoing compensation expense that can affect earnings and shareholder value.

Operating Partnership financial

"LTIP Units in Bluerock Residential Holdings, LP (the "Operating Partnership")"

An operating partnership is a separate legal entity set up to own and run a company’s core assets and day-to-day businesses, while investors hold interests indirectly through the parent company. Think of it like a dedicated garage that actually stores and services the cars while the owner keeps the dealership; it matters to investors because it affects how income, taxes, liability and voting rights are allocated and therefore can influence distributions and risk.

OP Units financial

"may convert to limited partnership interests of the Operating Partnership ("OP Units")"

OP units are ownership stakes in an operating partnership that sits beneath a public parent company, commonly used by real estate and energy firms to hold assets and distributions. Think of them like special shares in a subsidiary: they give economic rights to profits and cash payouts but are structured differently from the parent’s common stock, so investors watch OP unit issuance because it can change the effective ownership, future distributions, and potential dilution of the parent company’s equity.

distribution equivalents financial

"The Reporting Person will be entitled to receive "distribution equivalents" with respect to such LTIP Units"

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Vohs Christopher J.

(Last) (First) (Middle)

919 THIRD AVENUE

40TH FLOOR

(Street)

NEW YORK NEW YORK 10022

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Bluerock Homes Trust, Inc. [ BHM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CFO and Treasurer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
LTIP Units	(1)(2)	04/01/2026		A		4,529		(1)(2)	(1)(2)	Class A Common Stock	4,529	(1)(2)	38,870	D

Explanation of Responses:

1. Represents long-term incentive plan units ("LTIP Units") in Bluerock Residential Holdings, LP (the "Operating Partnership"), of which the Issuer is the general partner. The LTIP Units were issued at the direction of Bluerock Homes Manager, LLC (the "Manager"), in satisfaction of the Manager's reimbursement obligation to its affiliate, Bluerock Real Estate Holdings, LLC ("BREH") for the portion of the annual equity incentive award payable by BREH to the Reporting Person for services provided to the Manager in the Reporting Person's capacity as CFO and Treasurer thereof. Such LTIP Units will vest ratably on an annual basis over a three-year period from April 01, 2026.

2. Once vested, these LTIP Units may convert to limited partnership interests of the Operating Partnership ("OP Units") upon reaching capital account equivalency with the OP Units held by the Issuer, and may then be redeemed for cash or, at the option of the Issuer and after a one year holding period (including any period during which the LTIP Units were held), settled in shares of the Issuer's Class A common stock on a one-for-one basis. The Reporting Person will be entitled to receive "distribution equivalents" with respect to such LTIP Units, whether or not vested, at the same time as distributions are paid to the holders of the Issuer's Class A common stock.

	/s/ Christopher J. Vohs	04/03/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What did Bluerock Homes Trust (BHM) disclose about CFO Christopher Vohs in this Form 4?

Bluerock Homes Trust disclosed that CFO and Treasurer Christopher J. Vohs received 4,529 LTIP Units as an equity incentive. These units are tied to the operating partnership and increase his total LTIP holdings to 38,870 units, representing compensation rather than an open-market stock trade.

How many LTIP Units did BHM’s CFO receive and what is his total holding now?

The CFO received 4,529 LTIP Units in this award, bringing his total LTIP Unit holdings to 38,870. These units are a form of long-term incentive compensation linked to Bluerock Residential Holdings, LP, rather than immediate ownership of Class A common stock of Bluerock Homes Trust.

How do the LTIP Units granted to BHM’s CFO vest over time?

The LTIP Units granted to the CFO vest ratably over a three-year period starting on April 1, 2026. This means one-third of the units is scheduled to vest each year, encouraging longer-term service and alignment with the company’s performance over several years.

Can the BHM LTIP Units granted to the CFO convert into Class A common stock?

Once vested and after reaching capital account equivalency, the LTIP Units may convert into OP Units and then be redeemed for cash or, at the issuer’s option after a one-year holding period, settled in Class A common stock on a one-for-one basis, linking incentives to shareholder value directly.

What role do Bluerock Homes Manager, LLC and BREH play in this LTIP award to BHM’s CFO?

The LTIP Units were issued at the direction of Bluerock Homes Manager, LLC to satisfy its reimbursement obligation to affiliate Bluerock Real Estate Holdings, LLC. This relates to the portion of the annual equity incentive award payable by BREH to the CFO for services provided to the Manager.

Do the LTIP Units granted to BHM’s CFO provide any cash flow before vesting?

Yes. The CFO is entitled to receive distribution equivalents on the LTIP Units, whether or not vested. These distribution equivalents mirror distributions paid to holders of Class A common stock, giving the holder ongoing economic benefits even before full vesting and potential conversion into OP Units or common shares.