NexPoint Real Estate Finance (NREF) leader acquires shares via RSU grant and exercises
Rhea-AI Filing Summary
NexPoint Real Estate Finance, Inc. reported insider equity awards and option-like exercises by President and director James D. Dondero, who is also a ten percent owner. On April 2, 2026, he received a grant of 197,789 restricted stock units (RSUs), each representing a right to one share of common stock. These RSUs vest in four equal installments on April 2, 2027, February 15, 2028, February 15, 2029 and February 15, 2030, with settlement generally within 10 days and potentially in cash at the Compensation Committee’s discretion.
On April 3, 2026 and April 4, 2026, Dondero exercised previously granted RSUs to acquire a total of 70,114 shares of common stock, increasing his directly held common stock to 492,250 shares. Additional common shares are reported as held indirectly through funds and trusts managed or advised by affiliated entities and through a trust and related limited liability company; Dondero may be deemed an indirect beneficial owner of those positions but expressly disclaims beneficial ownership except to the extent of his pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 70,114 shares
Net Buy
10 txns
Insider
DONDERO JAMES D
Role
President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 33,284 | $0.00 | $0.00 |
| Exercise | Common Stock | 33,284 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units | 36,830 | $0.00 | $0.00 |
| Exercise | Common Stock | 36,830 | $0.00 | $0.00 |
| Grant/Award | Restricted Stock Units | 197,789 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 341,561 shares (Direct);
Common Stock — 492,250 shares (Direct);
Common Stock — 9,673,516 shares (Indirect, See Footnote);
Common Stock — 248,996 shares (Indirect, By Trust)
Footnotes (10)
- F1. Each restricted stock unit represents a contingent right to receive one share of common stock of NexPoint Real Estate Finance, Inc. (the "Issuer").
- F2. Includes shares acquired under the dividend reinvestment plan of the Issuer.
- F3. 1,322,385 shares are held by Highland Global Allocation Fund and 4,372,286 shares are held by Highland Opportunities and Income Fund. These entities are managed by NexPoint Asset Management, L.P. ("NexPoint Asset Management"). Mr. Dondero is the sole stockholder and director of Strand Advisors XVI, Inc., NexPoint Asset Management's general partner, and may be deemed to be an indirect beneficial owner of securities held by NexPoint Asset Management. Mr. Dondero disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.
- F4. 2,952,273 shares are held by NexPoint Diversified Real Estate Trust Operating Partnership, L.P., 281,817 shares are held by NexPoint Real Estate Strategies Fund and 415,669 shares are held by NexPoint Capital, Inc. These entities are managed or advised, directly or indirectly, by NexPoint Advisors, L.P. ("NP"). Mr. Dondero is the sole member of NP's general partner, and may be deemed to be an indirect beneficial owner of securities held by NP. Mr. Dondero disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.
- F5. 95,207 shares are held by a company which is an indirect wholly owned subsidiary of a trust of which Mr. Dondero is the beneficiary. The remaining shares of common stock are held directly by the trust. Mr. Dondero disclaims beneficial ownership of the shares held directly or indirectly by the trust except to the extent of his pecuniary interest therein.
- F6. These shares are held by a limited liability company in which the trust referenced in footnote 5 to this Form 4 owns a majority interest. Mr. Dondero disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
- F7. These shares are held by a trust. Mr. Dondero disclaims beneficial ownership of such shares.
- F8. On April 2, 2026, the reporting person was granted 197,789 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.
- F9. On April 3, 2025, the reporting person was granted 147,319 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.
- F10. On April 4, 2023, the reporting person was granted 133,135 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.
Key Figures
RSU grant: 197,789 RSUs
RSUs exercised: 70,114 shares
Direct common shares after transactions: 492,250 shares
+5 more
8 metrics
RSU grant
197,789 RSUs
Grant to James Dondero on <date>April 2, 2026</date>
RSUs exercised
70,114 shares
Common stock acquired from RSU exercises on <date>April 3–4, 2026</date>
Direct common shares after transactions
492,250 shares
Direct NREF common stock held by Dondero after <date>April 4, 2026</date>
Indirect fund holdings (set 1)
5,694,671 shares
Indirect common stock positions reported with nature of ownership “See Footnote”
Indirect fund holdings (set 2)
3,649,759 shares
Additional indirect common stock positions with “See Footnote” ownership
Indirect LLC holdings
327,286 shares
Indirect common shares held through an entity tied to a trust
Trust-held shares
248,996 shares
Common stock held by a trust where Dondero disclaims beneficial ownership
Dividend reinvestment inclusion
Not quantified
Footnote notes holdings include shares from dividend reinvestment plan
Key Terms
Restricted Stock Units, dividend reinvestment plan, indirect beneficial owner, pecuniary interest, +1 more
5 terms
Restricted Stock Units financial
"Each restricted stock unit represents a contingent right to receive one share of common stock"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
dividend reinvestment plan financial
"Includes shares acquired under the dividend reinvestment plan of the Issuer."
A dividend reinvestment plan lets shareholders automatically use cash dividends to buy more shares of the same company instead of receiving the money. It matters to investors because it turns regular payouts into a steady way to grow ownership and take advantage of compound returns—like having your savings automatically buy additional slices of a pie over time—while often reducing transaction costs and smoothing purchase timing.
indirect beneficial owner financial
"may be deemed to be an indirect beneficial owner of securities held by NexPoint Asset Management."
pecuniary interest financial
"disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein."
settlement financial
"Settlement will generally occur within 10 days of vesting and may ... be settled in cash."
Settlement is the process of completing a financial transaction, like buying or selling a stock, by transferring money and ownership between parties. It ensures that both the buyer gets the asset and the seller gets paid, making the deal official. Without settlement, the transaction wouldn't be finalized or legally recognized.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transactions did NREF report for James Dondero on this Form 4?
The Form 4 shows James D. Dondero received a grant of 197,789 restricted stock units and exercised previously granted RSUs to acquire 70,114 shares of NexPoint Real Estate Finance common stock, all as compensation-related equity activity rather than open-market trades.
How many restricted stock units did NREF grant to James Dondero and how do they vest?
NexPoint Real Estate Finance granted James Dondero 197,789 restricted stock units on April 2, 2026. These RSUs vest in four equal installments on April 2, 2027, February 15, 2028, February 15, 2029 and February 15, 2030, with settlement generally within 10 days of each vesting date.
What is James Dondero’s direct common stock position in NREF after these transactions?
After the April 4, 2026 RSU exercise, James Dondero directly holds 492,250 shares of NexPoint Real Estate Finance common stock. This figure reflects the updated direct ownership balance reported in the Form 4 following the compensation-related equity conversions.
What indirect NREF holdings associated with James Dondero are disclosed in the footnotes?
The footnotes state that millions of NexPoint Real Estate Finance shares are held by various funds, partnerships, and trusts managed or advised by affiliates or related entities, and by a trust and a related limited liability company. Dondero may be deemed an indirect beneficial owner but disclaims ownership beyond his pecuniary interest.