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

Rhea-AI Filing Summary

Brian Mitts, a director of NexPoint Diversified Real Estate Trust (NXDT), reported two open-market sales of common stock in 2025. He sold 2,500 shares on 05/07/2025 at $37.55 and 5,000 shares on 08/15/2025 at $30.92, reducing his direct holdings from 70,900 to 65,900 shares. He also beneficially owns 23,540 shares indirectly through a 401(k) plan. The Form 4 was signed by an attorney-in-fact on 08/19/2025.

Positive

• None.

Negative

• Director sold 7,500 shares in 2025, reducing direct beneficial ownership from 70,900 to 65,900 shares; this is a material disclosure of insider selling though not necessarily adverse to the company.

Insights

Financial Analyst

TL;DR: Director executed routine open-market sales totaling 7,500 shares in 2025, modestly lowering his direct stake.

Both transactions are reported as sales in the open market with explicit prices: $37.55 for 2,500 shares and $30.92 for 5,000 shares. After these disposals, the reporting person retains 65,900 directly owned shares plus 23,540 indirectly via a 401(k). The activity is factual, dated, and routine in nature; no derivative transactions or other complex arrangements are disclosed.

Corporate Governance Expert

TL;DR: Insider disclosed routine reductions in holdings; filings appear complete and properly executed by attorney-in-fact.

The Form 4 lists the reporting person as a director and shows two disposals with transaction dates and prices, and includes an attorney-in-fact signature. There is no indication of rule 10b5-1 plan designation on the form and no amendments are noted. This filing documents compliance with Section 16 reporting requirements rather than signaling governance change.

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)

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	05/07/2025		S		2,500	D	$37.55	70,900	D
Common Stock	08/15/2025		S		5,000	D	$30.92	65,900	D
Common Stock								23,540	I	By 401(k) plan

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:

	/s/ Paul Richards, as attorney-in-fact for Brian Mitts	08/19/2025
	** 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 Brian Mitts report on the Form 4 for NXDT?

He reported two open-market sales totaling 7,500 shares: 2,500 sold on 05/07/2025 at $37.55 and 5,000 sold on 08/15/2025 at $30.92.

How many NXDT shares does Brian Mitts own after the reported transactions?

After the reported sales, he directly owns 65,900 shares and beneficially owns an additional 23,540 shares indirectly through a 401(k) plan.

Was the Form 4 filed jointly or by a single reporting person?

The form indicates it was filed by one reporting person and lists Brian Mitts as the reporting individual.

Is there any derivative or option activity reported for NXDT on this Form 4?

No derivative securities, options, or convertible transactions are reported in Table II; only non-derivative common stock sales are listed.

Who signed the Form 4 and when was it signed?

The Form 4 is signed by Paul Richards, as attorney-in-fact for Brian Mitts on 08/19/2025.