NexPoint director awarded 6,154 RSUs at NREF

NexPoint Real Estate Finance director Catherine D. Wood reported compensation-related equity activity.

Rhea-AI Filing Summary

NexPoint Real Estate Finance director Catherine D. Wood reported compensation-related equity activity. On April 2, 2026, she received a grant of 6,154 restricted stock units, each representing a right to one share of common stock, scheduled to vest on April 2, 2027. On April 3, 2026, she exercised 5,518 previously granted restricted stock units into 5,518 shares of common stock at no exercise price. Following these transactions, she holds 30,228 shares of common stock directly, along with 6,154 unvested restricted stock units that will generally settle within 30 days after vesting, in shares or cash at the Compensation Committee’s discretion.

Insider Trade Summary

5,518 shares exercised/converted

Exercise 3 txns

Insider Wood Catherine D.

Role Director

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	5,518	$0.00	$0.00
Exercise	Common Stock	5,518	$0.00	$0.00
Grant/Award	Restricted Stock Units	6,154	$0.00	$0.00

Holdings After Transaction: Restricted Stock Units — 6,154 contracts (Direct); Common Stock — 30,228 shares (Direct)

Footnotes (3)

1. F1. Each restricted stock unit represents a contingent right to receive one share of common stock of NexPoint Real Estate Finance, Inc.
2. F2. On April 2, 2026, the reporting person was granted 6,154 restricted stock units, which vest on April 2, 2027. Settlement will generally occur within 30 days of vesting and may at the discretion of the Compensation Committee be settled in cash.
3. F3. On April 3, 2025, the reporting person was granted 5,518 restricted stock units, which vested on April 3, 2026. Settlement will generally occur within 30 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

Key Figures

New RSU grant: 6,154 units RSU vesting date: April 2, 2027 RSUs exercised: 5,518 units +3 more

6 metrics

New RSU grant 6,154 units Granted April 2, 2026, each for one common share

RSU vesting date April 2, 2027 Vesting date for 6,154 newly granted RSUs

RSUs exercised 5,518 units Previously granted RSUs exercised April 3, 2026

Shares received from exercise 5,518 shares Common stock from RSU settlement at $0.00 per share

Common shares held 30,228 shares Direct ownership after April 3, 2026 transactions

Unvested RSUs held 6,154 units Unvested restricted stock units outstanding after grant

Key Terms

Restricted Stock Units, vesting, settlement, Compensation Committee, +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.

vesting financial

"granted 6,154 restricted stock units, which vest on April 2, 2027"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

settlement financial

"Settlement will generally occur within 30 days of vesting"

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.

Compensation Committee financial

"may at the discretion of the Compensation Committee be settled in cash"

A compensation committee is a group within a company's leadership responsible for setting and reviewing how much top executives and employees are paid, including salaries, bonuses, and benefits. It matters to investors because fair and effective pay decisions can influence a company's performance, leadership motivation, and overall governance, helping ensure that the company’s management is aligned with shareholders’ interests.

derivative security financial

"transaction code description: Exercise or conversion of derivative security"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did Catherine D. Wood report at NexPoint Real Estate Finance (NREF)?

Catherine D. Wood reported equity compensation activity, including a grant of 6,154 restricted stock units on April 2, 2026, and the exercise of 5,518 restricted stock units into common stock on April 3, 2026, increasing her direct common share holdings.

How many NexPoint Real Estate Finance (NREF) shares does Catherine D. Wood hold after these transactions?

After the reported transactions, Catherine D. Wood directly holds 30,228 shares of NexPoint Real Estate Finance common stock. She also holds 6,154 unvested restricted stock units that represent potential additional shares, subject to vesting and settlement terms approved by the Compensation Committee.

What are the terms of Catherine D. Wood’s new 6,154 restricted stock units at NREF?

The 6,154 restricted stock units granted on April 2, 2026 each represent a right to receive one share of NexPoint common stock. They vest on April 2, 2027, with settlement generally within 30 days after vesting, either in shares or cash at the Compensation Committee’s discretion.

What was the nature of the 5,518-share transaction reported by Catherine D. Wood at NREF?

The 5,518-share transaction reflects the exercise and settlement of previously granted restricted stock units that vested on April 3, 2026. Those 5,518 units were converted into 5,518 shares of NexPoint common stock at a stated price of $0.00 per share in this compensation-related event.

Are Catherine D. Wood’s recent NREF Form 4 transactions open-market buys or sells?

The reported Form 4 transactions are not open-market buys or sells. They consist of a grant of 6,154 restricted stock units and the exercise of 5,518 previously granted restricted stock units into common stock, both classified as compensation-related acquisitions rather than market trades.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 04/06/2026 - 09:46 PM Learn about SEC filing dates

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^*

Wood Catherine D.

(Last) (First) (Middle)

300 CRESCENT COURT, SUITE 700

(Street)

DALLAS TEXAS 75201

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
NexPoint Real Estate Finance, Inc. [ NREF ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/02/2026

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
Common Stock	04/03/2026		M		5,518	A	(1)	30,228	D

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
Restricted Stock Units	(1)	04/02/2026		A		6,154		(2)	(2)	Common Stock	6,154	$0	6,154	D
Restricted Stock Units	(1)	04/03/2026		M			5,518	(3)	(3)	Common Stock	5,518	$0	0	D

Explanation of Responses:

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

2. On April 2, 2026, the reporting person was granted 6,154 restricted stock units, which vest on April 2, 2027. Settlement will generally occur within 30 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

3. On April 3, 2025, the reporting person was granted 5,518 restricted stock units, which vested on April 3, 2026. Settlement will generally occur within 30 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

	/s/ Paul Richards, as attorney-in-fact for Catherine Wood	04/06/2026
	** 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)