NexPoint Diversified Real Estate Trust (NXDT) awards 71,837 restricted share units to officer

Rhea-AI Filing Summary

Richards Paul reported acquisition or exercise transactions in this Form 4 filing.

NexPoint Diversified Real Estate Trust granted officer Paul Richards 71,837 restricted share units, each representing a contingent right to receive one common share. These units vest in four equal parts: one-fourth on June 2, 2027, one-fourth on February 15, 2028, one-fourth on February 15, 2029, and one-fourth on February 15, 2030. Following this grant, Richards holds 71,837 restricted share units directly, with settlement generally occurring within 10 days of each vesting date and potentially being settled in cash at the Compensation Committee’s discretion.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Richards Paul

Role See Remarks

Type	Security	Shares	Price	Value
Grant/Award	Restricted Share Units	71,837	$0.00	--

Holdings After Transaction: Restricted Share Units — 71,837 shares (Direct, null)

Footnotes (1)

1. Each restricted share unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust. On June 2, 2026, the reporting person was granted 71,837 restricted share units. The restricted share units will vest one-fourth on June 2, 2027, one-fourth on February 15, 2028, one-fourth on February 15, 2029 and one-fourth on February 15, 2030. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

Key Figures

RSUs granted: 71,837 units Underlying common shares: 71,837 shares Post-transaction RSU holdings: 71,837 units +4 more

7 metrics

RSUs granted 71,837 units Restricted share units granted on June 2, 2026

Underlying common shares 71,837 shares Each RSU represents one common share

Post-transaction RSU holdings 71,837 units Total restricted share units held after grant

First vesting date June 2, 2027 One-fourth of RSUs vest

Second vesting date February 15, 2028 One-fourth of RSUs vest

Third vesting date February 15, 2029 One-fourth of RSUs vest

Final vesting date February 15, 2030 Final one-fourth of RSUs vest

Key Terms

restricted share units, contingent right, vest, Compensation Committee

4 terms

restricted share units financial

"On June 2, 2026, the reporting person was granted 71,837 restricted share units."

Restricted share units (RSUs) are a promise from a company to give an employee or service provider actual shares or cash equal to the shares after certain conditions are met, typically staying with the company for a set time or hitting performance targets. Think of them like a time-locked gift card that becomes usable only after you’ve earned it. For investors, RSUs matter because they align employee incentives with company performance and can increase the number of shares outstanding over time, diluting existing ownership and affecting earnings per share.

contingent right financial

"Each restricted share unit represents a contingent right to receive one common share"

vest financial

"The restricted share units will vest one-fourth on June 2, 2027, one-fourth on February 15, 2028"

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

Compensation Committee financial

"Settlement will generally occur within 10 days of vesting and 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.

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Form 4 Insider Transactions: What Each Field Means →

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)
06/02/2026

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

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 Share Units	(1)	06/02/2026		A		71,837		(2)	(2)	Common Shares	71,837	$0	71,837	D

Explanation of Responses:

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

2. On June 2, 2026, the reporting person was granted 71,837 restricted share units. The restricted share units will vest one-fourth on June 2, 2027, one-fourth on February 15, 2028, one-fourth on February 15, 2029 and one-fourth on February 15, 2030. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

Remarks:

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

	/s/ Paul Richards	06/04/2026
	** 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)

FAQ

What insider transaction did NexPoint Diversified Real Estate Trust (NXDT) report for Paul Richards?

NexPoint Diversified Real Estate Trust reported a grant of 71,837 restricted share units to officer Paul Richards. These units are a form of equity-based compensation that may convert into common shares over time, subject to the vesting schedule and settlement terms.

How many restricted share units did Paul Richards receive from NXDT and what do they represent?

Paul Richards received 71,837 restricted share units from NexPoint Diversified Real Estate Trust. Each restricted share unit represents a contingent right to receive one common share of the trust, providing potential future ownership depending on vesting and settlement conditions described in the award terms.

What is the vesting schedule for Paul Richards’ 71,837 restricted share units at NXDT?

The 71,837 restricted share units vest in four equal installments. One-fourth vests on June 2, 2027, another one-fourth on February 15, 2028, another on February 15, 2029, and the final one-fourth on February 15, 2030, spreading vesting over several years.

How and when will Paul Richards’ restricted share units at NXDT be settled?

Settlement of Paul Richards’ restricted share units will generally occur within 10 days after each vesting date. The Compensation Committee may choose the settlement form, which can be in common shares or, at its discretion, in cash instead of shares for vested units.

What is Paul Richards’ position in NXDT restricted share units after this Form 4 transaction?

After this reported transaction, Paul Richards holds 71,837 restricted share units directly. These units are derivative securities tied to NexPoint Diversified Real Estate Trust common shares and will convert or be settled over time according to the specified vesting and settlement provisions.