Comp grant: Bluerock Homes Trust (BHM) president receives 5,450 LTIP units

Rhea-AI Filing Summary

Bluerock Homes Trust, Inc. reported that President Jordan B. Ruddy received a grant of 5,450 LTIP Units as compensation. The award was issued at a price of $0.00 per unit in connection with the manager’s base management fee and reimbursement of a portion of Ruddy’s salary for the first quarter of 2026.

Following this grant, Ruddy directly holds 244,258 LTIP Units. According to the terms, these fully vested LTIP Units may convert into OP Units after reaching capital account equivalency and can 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.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Ruddy Jordan B.

Role President

Type	Security	Shares	Price	Value
Grant/Award	LTIP Units	5,450	$0.00	--

Holdings After Transaction: LTIP Units — 244,258 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

LTIP Units granted: 5,450 units Grant price: $0.00 per unit LTIP Units after transaction: 244,258 units +1 more

4 metrics

LTIP Units granted 5,450 units Grant to President on 2026-05-12

Grant price $0.00 per unit Compensation-related LTIP award

LTIP Units after transaction 244,258 units Total LTIP holdings for President following grant

Underlying Class A common stock 5,450 shares Underlying shares tied to new LTIP Units

Key Terms

LTIP Units, Base Management Fee, OP Units, capital account equivalency, +1 more

5 terms

LTIP Units financial

"Represents long-term incentive plan units ("LTIP Units") issued in partial satisfaction"

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.

Base Management Fee financial

"issued in partial satisfaction of the Issuer's Base Management Fee obligation"

OP Units financial

"may convert to OP Units upon reaching capital account equivalency"

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.

capital account equivalency financial

"may convert to OP Units upon reaching capital account equivalency with the OP Units"

Class A common stock financial

"settled in shares of the Issuer's Class A common stock on a one-for-one basis"

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

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^*

Ruddy Jordan B.

(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)
	President

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/12/2026

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)	05/12/2026		A		5,450		(1)	(1)	Class A Common Stock	5,450	(1)	244,258	D(1)

Explanation of Responses:

1. Represents long-term incentive plan units ("LTIP Units") issued in partial satisfaction of the Issuer's Base Management Fee obligation to Bluerock Homes Manager, LLC (the "Manager") for the first quarter of 2026 and in satisfaction of the Manager's reimbursement obligation to its affiliate, Bluerock Real Estate Holdings, LLC ("BREH"), for a portion of the salary payable by BREH to the Reporting Person for the quarter ending March 31, 2026 for services provided to the Manager in the Reporting Person's capacity as President thereof. These LTIP Units were fully vested upon issuance, and may convert to 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.

	/s/ Christopher J. Vohs, Attorney-in-fact	05/14/2026
	** 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 insider transaction did Bluerock Homes Trust (BHM) report for its president?

Bluerock Homes Trust reported that President Jordan B. Ruddy received a grant of 5,450 LTIP Units as compensation. The units were awarded at $0.00 per unit related to management fees and partial salary reimbursement for the first quarter of 2026.

How many LTIP Units did BHM’s president receive in this Form 4 filing?

President Jordan B. Ruddy received 5,450 LTIP Units in this transaction. These units are part of long-term incentive compensation and are tied to the manager’s base management fee and reimbursement of a portion of his salary for the quarter ending March 31, 2026.

What are LTIP Units in the Bluerock Homes Trust (BHM) Form 4 filing?

The LTIP Units are long-term incentive plan units granted as compensation. They were fully vested upon issuance and may convert into OP Units once capital account equivalency is reached, and later can be redeemed for cash or settled in Class A common stock on a one-for-one basis.

How many LTIP Units does BHM’s president hold after this compensation grant?

After receiving 5,450 additional LTIP Units, President Jordan B. Ruddy directly holds 244,258 LTIP Units. This figure reflects his position following the reported grant and provides context for the scale of this compensation-related award relative to his total LTIP holdings.

Does the BHM Form 4 show the president buying or selling stock in the market?

The Form 4 reflects a grant of LTIP Units as compensation rather than an open-market stock purchase or sale. The units were issued at $0.00 per unit and may later convert and be redeemed, but no market buy or sell occurred in this transaction.

How can the LTIP Units granted to BHM’s president ultimately be settled?

The LTIP Units may first convert to OP Units after achieving capital account equivalency. They can then be redeemed for cash or, at Bluerock Homes Trust’s option and after a one-year holding period, settled in shares of Class A common stock on a one-for-one basis.