Every Form 4 that NexPoint Real Estate Finance, Inc. (NREF) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A Form 4 covers the transactions officers, directors and large holders report, so if you follow NREF and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full NREF filings page.
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.
NexPoint Real Estate Finance, Inc. director Carol Swain reported routine equity compensation activity. On April 2, 2026, she received a grant of 6,154 restricted stock units (RSUs), each representing a contingent right to one share of common stock, vesting on April 2, 2027, with settlement generally within 30 days and potentially in cash.
On April 3, 2026, a prior award of 5,518 RSUs granted on April 3, 2025 vested and was exercised into common stock, and a portion was disposed of back to the issuer and settled in cash. After these transactions, she directly held 11,563 shares of common stock.
NexPoint Real Estate Finance General Counsel and Secretary Dennis Charles Sauter Jr reported routine equity compensation activity. On April 3–4, he exercised restricted stock units into 7,549 shares of common stock, with 2,699 shares withheld to cover tax obligations. After these transactions, he directly held 33,017 common shares.
On April 2, he also received a new award of 32,308 restricted stock units, each representing one share of common stock. This award vests in four installments between April 2027 and February 2030, with settlement generally within 10 days of each vesting date and potentially in cash at the Compensation Committee’s discretion.
NexPoint Real Estate Finance, Inc. officer Paul Richards reported compensation-related stock activity. On April 2, 2026, he was granted 61,347 restricted stock units (RSUs), each representing a right to receive one share of common stock. These RSUs vest in four installments through February 15, 2030.
On April 3, 2026 and April 4, 2026, previously granted RSUs vested and were exercised into 15,087 and 6,894 shares of common stock. To cover tax obligations, the company withheld 6,825 shares and 4,044 shares at $13.36 per share rather than selling stock in the market. Following these transactions, Richards directly owns 65,692 common shares, plus indirect holdings of 7,498 shares through a 401(k) plan and 879 shares through an IRA.
NexPoint Real Estate Finance, Inc. director Brian Mitts reported a mix of RSU grants, vesting, and related share dispositions. On April 2, 2026, he received 6,154 restricted stock units that vest on April 2, 2027. On April 3–4, 2026, previously granted RSUs vested and were exercised into a total of 12,355 shares of common stock, with portions returned to the issuer and 2,448 shares withheld at $13.36 to cover tax obligations rather than sold on the market. Following these transactions, he holds 94,914 shares of common stock directly, 6,154 RSUs outstanding, and 95 shares indirectly through a child.
NexPoint Real Estate Finance, Inc. executive Matt McGraner reported equity compensation activity involving restricted stock units and common shares. On April 2, 2026, he was granted 197,789 restricted stock units, each representing a contingent right to one share of common stock. These units vest one-fourth on April 2, 2027, and one-fourth on February 15 of 2028, 2029, and 2030, with settlement generally within 10 days of vesting and potentially in cash at the Compensation Committee’s discretion.
On April 3, 2026, 36,830 restricted stock units granted April 3, 2025 were exercised into 36,830 common shares, and on April 4, 2026, 32,010 restricted stock units granted April 4, 2023 were exercised into 32,010 common shares. To cover tax obligations, the issuer withheld 17,638 shares on April 3 and 18,776 shares on April 4 at $13.36 per share as tax-withholding dispositions, rather than open-market sales.
Following these transactions, McGraner directly owned 318,044 common shares. An additional 1,800 common shares are held indirectly through a limited liability company in which he has an indirect minority interest; he disclaims beneficial ownership of those shares except to the extent of his pecuniary interest.
LAFFER ARTHUR B reported acquisition or exercise transactions in this Form 4 filing.
NexPoint Real Estate Finance director Arthur B. Laffer reported equity compensation activity. On April 2, 2026, he received a grant of 6,154 restricted stock units, each representing one share of common stock, scheduled to vest on April 2, 2027. On April 3, 2026, 5,518 previously granted restricted stock units vested and were settled into 5,518 shares of common stock at a stated price of $0.00 per share. After these transactions, he directly holds 65,009 shares of common stock.
NexPoint Real Estate Finance director Scott F. Kavanaugh reported equity-based compensation activity. On April 2, 2026, he was granted 6,154 restricted stock units that vest on April 2, 2027, each representing a right to receive one share of common stock or, at the Compensation Committee’s discretion, cash.
On April 3, 2026, 5,518 restricted stock units granted on April 3, 2025 vested and were settled into 5,518 shares of common stock at no exercise price, increasing his direct holdings to 25,309 common shares.
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.
NexPoint Real Estate Finance, Inc. director Constantino Edward N. reported compensation-related stock activity. On April 2, 2026, he received 6,154 restricted stock units, each representing a right to one share of common stock, scheduled to vest on April 2, 2027 and generally settle within 30 days, potentially in cash at the Compensation Committee’s discretion.
On April 3, 2026, 5,518 previously granted restricted stock units vested and were exercised into 5,518 shares of common stock, followed by the return of 2,759 common shares to the issuer. After these transactions, he directly held 33,898 shares of common stock.
NexPoint Real Estate Finance, Inc. General Counsel and Secretary Dennis Charles Sauter Jr. exercised 2,917 restricted stock units, receiving an equal number of common shares at a price of $0.00 per share. After this exercise, he held 5,833 restricted stock units and 29,328 common shares before tax withholding.
To cover tax obligations, 1,161 common shares were disposed of at $13.15 per share, leaving him with 28,167 common shares held directly. These restricted stock units were part of an 11,667-unit grant that vests in four annual installments from March 13, 2025 through March 13, 2028.
NexPoint Real Estate Finance, Inc. officer Paul Richards exercised restricted stock units that vested into 10,000 shares of common stock. These RSUs were part of a 40,000-unit grant made on March 13, 2024, vesting in four equal annual installments through March 13, 2028.
To cover tax obligations on the March 13, 2026 vesting, 5,580 common shares were withheld at a price of $13.15 per share, a non–open-market disposition. As a result, Richards effectively added 4,420 net new common shares to his direct holdings, bringing his direct ownership to 54,580 shares.
He also reports indirect ownership of 7,498 common shares through a 401(k) plan and 879 common shares through an IRA. No open-market purchases or sales were reported in this filing; the activity reflects routine equity compensation vesting and associated tax withholding.
NexPoint Real Estate Finance, Inc. director Brian Mitts reported routine equity compensation activity on March 13, 2026. He exercised or converted 8,333 Restricted Stock Units into common stock at a stated price of $0.00 per share, reflecting settlement of a previously granted award.
On the same date, he disposed of 1,249 shares of common stock back to the issuer and an additional 2,004 shares were withheld at $13.15 per share to satisfy tax obligations, which is not an open‑market sale. Following these transactions, he holds 88,791 shares of common stock directly and 95 shares indirectly through a child.
The filing also notes an earlier grant of 33,333 restricted stock units that vest in four equal annual installments from March 13, 2025 through March 13, 2028, with settlement generally occurring within 10 days of each vesting date and potentially in cash at the Compensation Committee’s discretion.
NexPoint Real Estate Finance, Inc. officer Matt McGraner exercised 38,438 restricted stock units, receiving an equal number of common shares at a $0.00 exercise price. To cover tax obligations, 13,554 common shares were disposed of at $13.15 per share through issuer withholding, not an open-market sale. Following these transactions, he directly holds 285,618 common shares. An additional 1,800 shares are held indirectly by a limited liability company in which he owns an indirect minority interest and for which he disclaims beneficial ownership beyond his pecuniary interest.
NexPoint Real Estate Finance, Inc. President and director James D. Dondero reported exercising restricted stock units into common shares. On March 13, 2026, he converted 38,438 restricted stock units into 38,438 common shares at a stated price of $0.00 per share, increasing his directly held common stock to 408,412 shares and leaving 76,874 restricted stock units outstanding.
The filing notes that each restricted stock unit equals one NexPoint common share, and that a prior grant of 153,750 units vests in four annual installments from March 13, 2025 through March 13, 2028. Additional common shares are held indirectly through funds, partnerships, and trusts managed by NexPoint-affiliated entities, where Mr. Dondero may be deemed an indirect beneficial owner but disclaims beneficial ownership beyond his pecuniary interest.
NexPoint Real Estate Finance, Inc. president and 10% owner James D. Dondero reported acquiring common stock through the vesting and exercise of restricted stock units. On February 21, 2026, 17,308 restricted stock units were exercised into 17,308 shares of common stock at a price of $0.00 per share, increasing his directly held common stock to 369,974 shares.
Each restricted stock unit represents a right to receive one NexPoint Real Estate Finance common share. The 17,308 units formed part of a 69,235-unit grant originally awarded on February 21, 2022, which vested in four equal annual installments from 2023 through 2026, with settlement generally within 10 days of vesting and potentially in cash at the Compensation Committee’s discretion.
The filing also lists substantial additional common stock positions held indirectly through various funds, operating partnerships, companies, and trusts associated with NexPoint entities. Footnotes state that these entities hold the shares and that Mr. Dondero may be deemed an indirect beneficial owner but disclaims beneficial ownership except to the extent of his pecuniary interest.
NexPoint Real Estate Finance General Counsel Dennis Charles Sauter Jr exercised 2,146 restricted stock units into 2,146 shares of common stock at a price of $0.00 per share. To cover tax withholding, 1,011 shares of common stock were disposed of at $14.86 per share, leaving 26,411 shares of common stock held directly.
NexPoint Real Estate Finance, Inc. officer Paul Richards reported equity compensation activity involving restricted stock units and related common stock. On February 21, 2026, 4,568 restricted stock units were exercised or converted into 4,568 shares of common stock at a stated price of $0.00 per share. To cover tax obligations, 3,239 common shares were disposed of through a tax-withholding transaction at $14.86 per share. After these transactions, he held 50,160 shares of common stock directly, plus additional indirect holdings of 7,498 shares through a 401(k) plan and 879 shares through an IRA.
NexPoint Real Estate Finance, Inc. officer Matt McGraner reported equity award activity involving restricted stock units and common stock. He exercised or converted 17,308 restricted stock units into 17,308 shares of common stock at a price of $0.00 per share, increasing his direct common stock holdings to 268,076 shares.
On the same date, 7,342 common shares were disposed of at $14.86 per share to cover tax obligations associated with the award, leaving 260,734 shares of common stock held directly. Separately, 1,800 common shares are held indirectly through a limited liability company in which he owns an indirect minority interest, and he disclaims beneficial ownership beyond his pecuniary interest.
NexPoint Real Estate Finance director Brian Mitts reported a mix of equity compensation transactions involving restricted stock units and common stock. He exercised 5,538 restricted stock units into common shares at a price of $0.0000 per share, increasing his direct common stock holdings before subsequent dispositions.
On the same day, he disposed of 830 common shares in a transaction coded as a disposition to the issuer and a further 2,806 shares in a tax-withholding transaction at $14.86 per share, ending with 83,711 directly held common shares. An additional 95 common shares are held indirectly "by child." The footnotes explain these RSUs were part of a 22,155-unit grant from February 21, 2022 that vested in four annual installments through February 21, 2026, with settlement allowed in cash at the Compensation Committee’s discretion.
NexPoint Real Estate Finance, Inc. insider James Dondero, a director, 10% owner and President, reported changes in his indirect holdings of the company’s common stock. On 12/30/2025, 852,273 Class C OP Units in NexPoint Real Estate Finance Operating Partnership, L.P. were redeemed for an equal number of NexPoint Real Estate Finance common shares and distributed to NexPoint Diversified Real Estate Operating Partnership, L.P. (NXDT OP).
Following this transaction, large blocks of NREF shares are held across several NexPoint-related entities and funds, including NXDT OP, NexPoint Diversified Real Estate Trust, NexPoint Real Estate Strategies Fund, NexPoint Capital, Inc., Highland Global Allocation Fund and Highland Opportunities and Income Fund, as well as certain trusts and a limited liability company. These entities are managed or advised by NexPoint-affiliated managers, and Mr. Dondero may be deemed an indirect beneficial owner but disclaims beneficial ownership except to the extent of his pecuniary interest.
NexPoint Real Estate Finance, Inc. director reported a recent stock transaction in company shares. On 12/18/2025, the reporting person disposed of 11,904 shares of common stock at a price of $14.51 per share through a 401(k) plan, leaving no shares held in that plan after the transaction. Following this activity, the director beneficially owns 81,809 shares of common stock directly and 95 shares indirectly through a child, reflecting their current reported stake in the company.