7,247 LTIP units granted at Bluerock Homes Trust (NYSE: BHM)
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Bluerock Homes Trust, Inc. reported a compensation-related equity grant to an executive. On April 1, 2026, Chief Legal Officer and Secretary of Bluerock Homes Manager, LLC, Jason Emala, received a grant of 7,247 LTIP Units in Bluerock Residential Holdings, LP, the operating partnership of which Bluerock Homes Trust is the general partner.
The LTIP Units were issued at the direction of the external Manager to satisfy an annual equity incentive award obligation owed by its affiliate, Bluerock Real Estate Holdings, LLC, for services provided by Emala to the Manager. Following this award, Emala holds 40,783 LTIP Units directly.
These LTIP Units vest ratably each year over a three-year period starting on April 1, 2026. Once vested and after achieving capital account equivalency, the LTIP Units may convert into OP Units and then, after a one-year holding period including time as LTIP Units, may be redeemed for cash or settled one-for-one in Class A common stock. Emala is also entitled to distribution equivalents on these LTIP Units, whether or not vested.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Emala Jason
Role
See Remarks
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | LTIP Units | 7,247 | $0.00 | -- |
Holdings After Transaction:
LTIP Units — 40,783 shares (Direct)
Footnotes (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 Chief Legal Officer and Secretary 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: 7,247 LTIP Units
LTIP Units after grant: 40,783 LTIP Units
Vesting period: 3 years
+2 more
5 metrics
LTIP Units granted
7,247 LTIP Units
Equity incentive award on April 1, 2026
LTIP Units after grant
40,783 LTIP Units
Total direct holdings following the transaction
Vesting period
3 years
Ratable annual vesting from April 1, 2026
Conversion ratio
1-for-1
Potential settlement into Class A common stock after conditions
Holding period requirement
1 year
Minimum holding before OP Units may be settled in stock
Key Terms
LTIP Units, Operating Partnership, OP Units, distribution equivalents, +1 more
5 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
"Bluerock Residential Holdings, LP (the "Operating Partnership"), of which the Issuer is the general partner"
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") 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.
distribution equivalents financial
"The Reporting Person will be entitled to receive "distribution equivalents" with respect to such LTIP 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.
FAQ
What insider transaction did Bluerock Homes Trust (BHM) report for Jason Emala?
Bluerock Homes Trust reported that Jason Emala received a grant of 7,247 LTIP Units in its operating partnership. This equity award was issued as part of his annual incentive compensation for services to the external manager, increasing his direct LTIP Unit holdings to 40,783.
How do the 7,247 LTIP Units granted to Jason Emala at BHM vest?
The 7,247 LTIP Units granted to Jason Emala vest ratably over three years starting on April 1, 2026. This means a portion of the award becomes earned each year during that period, aligning his compensation with longer-term service and performance for the external manager.
Can Jason Emala’s LTIP Units at Bluerock Homes Trust convert into common stock?
Once vested and after reaching capital account equivalency with OP Units held by the issuer, the LTIP Units may convert into OP Units. Those OP Units can then be redeemed for cash or, at the issuer’s option after a one-year holding period, settled one-for-one in Class A common stock.
What are distribution equivalents on LTIP Units at Bluerock Homes Trust (BHM)?
Distribution equivalents are payments LTIP Unit holders receive that mirror distributions on Class A common stock. Jason Emala is entitled to these distribution equivalents on his LTIP Units, whether or not they are vested, whenever distributions are paid to Class A common stockholders of Bluerock Homes Trust.
What is the relationship between Bluerock Homes Trust and the Operating Partnership issuing LTIP Units?
The LTIP Units were issued by Bluerock Residential Holdings, LP, referred to as the Operating Partnership. Bluerock Homes Trust, Inc. is the general partner of this Operating Partnership, which allows equity-based awards like LTIP Units to be tied economically to the company’s Class A common stock.