[Form 4/A] NexPoint Diversified Real Estate Trust Amended Insider Trading Activity

Rhea-AI Filing Summary

Brian Mitts, a director of NexPoint Diversified Real Estate Trust (NXDT), filed an amended Form 4 correcting prior reports of share sales that did not occur. The earlier Form reported sales of a total of 7,500 common shares on May 7 and August 15 that were erroneous. The amendment states that as of August 15 the reporting person directly owned 24,754.96 common shares, and the corrected filing replaces the previously reported dispositions. The amendment was submitted and signed by an attorney-in-fact on behalf of the reporting person.

Positive

• Amendment corrects previously reported transactions, restoring the accurate insider share count
• Reporting person retains direct ownership of 24,754.96 common shares, confirming no actual dispositions occurred

Negative

• Erroneous initial Form 4 disclosed sales of 7,500 shares that did not occur, indicating a reporting error
• Control or process weakness implied by the need for an amended filing to correct material transaction reporting

Insights

Financial Analyst

TL;DR: Amendment corrects misreported disposals and confirms continued direct ownership of 24,754.96 shares; market impact likely limited.

The filing amends a prior Form 4 that had reported dispositions totaling 7,500 shares which, according to the explanatory note, did not occur. For investors and modelers this removes previously indicated insider selling volume and restores the reported insider share count to 24,754.96. Because the amendment clarifies, rather than reveals, insider intent or new transfers, it is unlikely to materially alter valuation assumptions absent other information.

Corporate Governance Expert

TL;DR: Administrative error corrected; highlights process and controls around insider reporting that the issuer should monitor.

The amendment documents an administrative correction to Section 16 reporting: claimed sales of 7,500 shares were reported in error and are rescinded by this amended Form 4/A. While the substantive ownership position is unchanged, the mistake underscores the importance of verification procedures before submitting Section 16 filings and may prompt review of preparer controls and oversight for insider reporting compliance.

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^*

Mitts Brian

(Last) (First) (Middle)

300 CRESCENT COURT, SUITE 700

(Street)

DALLAS TX 75201

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NEXPOINT DIVERSIFIED REAL ESTATE TRUST [ NXDT ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
05/07/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)
08/19/2025

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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								24,754.96(1)	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

Explanation of Responses:

1. On August 19, 2025, the reporting person filed a Form 4 (the "Form") reporting sales of a total of 7,500 common shares of NexPoint Diversified Real Estate Trust on May 7, 2025 and August 15, 2025 that did not in fact occur. As of August 15, 2025, the reporting person directly owned 24,754.96 common shares.

	/s/ Paul Richards, as attorney-in-fact for Brian Mitts	09/04/2025
	** 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.

FAQ

What did the amended Form 4/A for NXDT report?

The amendment states that previously reported sales of 7,500 common shares did not occur and corrects the prior Form 4.

How many NexPoint Diversified Real Estate Trust shares does Brian Mitts directly own?

The amended filing reports that the reporting person directly owns 24,754.96 common shares as of the stated date.

Were the originally reported sale dates specified?

Yes. The prior filing had reported sales on May 7 and August 15, which the amendment says did not occur.

Does the amendment indicate any new transactions occurred?

No. The amendment corrects earlier erroneous reports and does not disclose any actual new disposals or acquisitions.

Who signed the amended Form 4/A on behalf of the reporting person?

The amendment was signed by an attorney-in-fact, Paul Richards, on behalf of Brian Mitts.