NexPoint officer corrects RSU share vesting count

NexPoint Diversified Real Estate Trust officer Paul Richards filed an amended insider report correcting a recent stock award entry.

Rhea-AI Filing Summary

NexPoint Diversified Real Estate Trust officer Paul Richards filed an amended insider report correcting a recent stock award entry. On March 18, 2026, he acquired 8,929 common shares through the vesting of restricted share units. Of these, 5,072 shares were withheld at $4.41 per share to cover tax obligations. After these compensation-related transactions, he directly holds 128,235 common shares.

The amendment clarifies that the original filing mistakenly reported 8,989 shares acquired, and this update aligns his reported direct holdings with the actual RSU vesting outcome.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Richards Paul

Role See Remarks

Type	Security	Shares	Price	Value
Exercise	Common Stock	8,929	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	5,072	$4.41	$22K

Holdings After Transaction: Common Stock — 128,235 shares (Direct)

Footnotes (3)

1. F1. On March 20, 2026, the reporting person filed a Form 4 (the "Form 4") that inadvertently reported that 8,989 shares were acquired on March 18, 2026 upon the vesting of restricted shares units granted on March 18, 2024. The number of shares actually acquired was 8,929. This amendment is being filed to correctly state the number of shares directly held by the reporting person following the transactions reported in the Form 4.
2. F2. Each restricted share unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust (the "Company").
3. F3. Includes shares received pursuant to elective stock dividends paid on the Company's common shares.

Key Figures

RSU shares vested: 8,929 shares Shares withheld for taxes: 5,072 shares Tax withholding price: $4.41 per share +3 more

6 metrics

RSU shares vested 8,929 shares Common stock from RSU vesting on March 18, 2026

Shares withheld for taxes 5,072 shares Tax-withholding disposition at $4.41 per share

Tax withholding price $4.41 per share Value used for 5,072-share tax payment

Holdings after M-code entry 133,307 shares Directly held following RSU vesting before tax withholding

Final direct holdings 128,235 shares Common stock directly held after all March 18, 2026 transactions

Original reported RSU amount 8,989 shares Incorrectly reported in Form 4 filed March 20, 2026

Key Terms

restricted share unit, Form 4, elective stock dividends, Common Stock

4 terms

restricted share unit financial

"reported that 8,989 shares were acquired on March 18, 2026 upon the vesting of restricted shares units granted on March 18, 2024."

A restricted share unit (RSU) is a promise by a company to give an employee a set number of company shares at a future date, typically after meeting time or performance conditions. For investors, RSUs matter because when they convert into actual shares they increase the number of shares outstanding (like unlocking more tickets in a game), which can dilute existing holders, and they align employee incentives with company performance, influencing behavior and long-term value.

Form 4 regulatory

"the reporting person filed a Form 4 (the "Form 4") that inadvertently reported that 8,989 shares were acquired"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

elective stock dividends financial

"Includes shares received pursuant to elective stock dividends paid on the Company's common shares."

Common Stock financial

"Each restricted share unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

FAQ

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

What insider transaction did NXDT officer Paul Richards report?

Paul Richards reported routine equity compensation activity. On March 18, 2026, 8,929 restricted share units vested into common stock, and 5,072 shares were withheld to satisfy tax obligations at $4.41 per share. These movements reflect standard stock-based compensation mechanics.

Why did NexPoint Diversified Real Estate Trust (NXDT) file an amended Form 4/A?

The amended filing corrects a share-count error in a prior report. The original Form 4 stated 8,989 shares were acquired upon RSU vesting; the accurate number is 8,929. This amendment updates Paul Richards’ reported direct holdings to match the actual vesting amount.

How many NXDT shares does Paul Richards hold after this corrected transaction?

Following the corrected RSU vesting and related tax withholding, Paul Richards directly holds 128,235 common shares of NexPoint Diversified Real Estate Trust. This figure reflects his position after 8,929 shares vested and 5,072 shares were delivered to cover tax liabilities.

What does the tax withholding transaction at $4.41 mean for NXDT shares?

The $4.41 price reflects shares used to cover taxes on vested RSUs, not an open-market sale. In this case, 5,072 shares were surrendered to satisfy tax liabilities, a common non-discretionary mechanism in stock-based compensation plans rather than a voluntary sale.

How do NXDT restricted share units work for Paul Richards?

Each restricted share unit represents a right to receive one NXDT common share upon vesting. On March 18, 2026, RSUs granted in March 2024 converted into 8,929 shares, demonstrating standard equity compensation designed to align executive interests with shareholders over time.

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

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Accepted by SEC EDGAR 04/07/2026 - 09:51 PM EDT 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^*

Richards Paul

(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 DIVERSIFIED REAL ESTATE TRUST [ NXDT ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/18/2026

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)
03/20/2026

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	03/18/2026		M		8,929(1)	A	(2)	133,307(3)	D
Common Stock	03/18/2026		F		5,072	D	$4.41	128,235	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 March 20, 2026, the reporting person filed a Form 4 (the "Form 4") that inadvertently reported that 8,989 shares were acquired on March 18, 2026 upon the vesting of restricted shares units granted on March 18, 2024. The number of shares actually acquired was 8,929. This amendment is being filed to correctly state the number of shares directly held by the reporting person following the transactions reported in the Form 4.

2. Each restricted share unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust (the "Company").

3. Includes shares received pursuant to elective stock dividends paid on the Company's common shares.

Remarks:

Chief Financial Officer, Executive VP-Finance, Treasurer and Assistant Secretary

	/s/ Paul Richards	04/07/2026
	** 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)