NXDT director exercises 5,357 restricted share units

NexPoint Diversified Real Estate Trust director Brian Mitts reported compensation-related equity activity.

Rhea-AI Filing Summary

NexPoint Diversified Real Estate Trust director Brian Mitts reported compensation-related equity activity. On March 18, 2026, he exercised 5,357 restricted share units into 5,357 common shares at an exercise price of $0.00 per share. The filing shows 804 common shares were returned to the issuer and 1,200 common shares were disposed of to cover tax obligations at $4.41 per share. Following these transactions, he directly holds 16,689 common shares and 10,714 restricted share units.

Insider Trade Summary

5,357 shares exercised/converted

Exercise 4 txns

Insider Mitts Brian

Role Director

Type	Security	Shares	Price	Value
Exercise	Restricted Share Units	5,357	$0.00	$0.00
Exercise	Common Stock	5,357	$0.00	$0.00
Disposition	Common Stock	804	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	1,200	$4.41	$5K

Holdings After Transaction: Restricted Share Units — 10,714 contracts (Direct); Common Stock — 16,689 shares (Direct)

Footnotes (4)

1. F1. Each restricted share unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust (the "Company").
2. F2. Includes shares received pursuant to an elective stock dividend paid on the Company's common shares.
3. F3. Represents the portion of the previously reported restricted share unit grant that vested on March 18, 2026 and settled in cash.
4. F4. On March 18, 2024, the reporting person was granted 21,429 restricted share units. The restricted share units vested one-fourth on March 18, 2025 and one-fourth on March 18, 2026, and will vest one-fourth on March 18, 2027 and one-fourth on March 18, 2028. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

FAQ

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

What insider transactions did NXDT director Brian Mitts report on March 18, 2026?

Brian Mitts exercised 5,357 restricted share units into 5,357 common shares on March 18, 2026. The same filing shows additional dispositions to the issuer and for taxes, reflecting routine compensation and tax-related activity rather than open-market trading.

Did Brian Mitts buy or sell NexPoint Diversified Real Estate Trust (NXDT) shares in the market?

The transactions do not show open-market buying or selling. They consist of an exercise of restricted share units, a disposition of 804 shares to the issuer, and 1,200 shares withheld to satisfy tax obligations at $4.41 per share.

How many NexPoint Diversified Real Estate Trust shares does Brian Mitts hold after this Form 4?

After the reported transactions, Brian Mitts directly holds 16,689 common shares of NexPoint Diversified Real Estate Trust. The filing also shows he holds 10,714 restricted share units, which represent contingent rights to receive the company’s common shares upon future vesting.

What are the details of the restricted share units reported by NXDT director Brian Mitts?

Each restricted share unit represents a contingent right to receive one common share. Mitts was granted 21,429 restricted share units on March 18, 2024, vesting in four equal installments from 2025 through 2028, with settlement generally within 10 days of each vesting date.

Were any of Brian Mitts’ NexPoint (NXDT) restricted share units settled in cash?

Yes. The filing notes that part of a previously reported restricted share unit grant vested on March 18, 2026 and was settled in cash. The compensation committee may choose cash settlement at its discretion, instead of delivering common shares upon vesting.

What portion of Brian Mitts’ NXDT grant is still scheduled to vest after March 18, 2026?

From the 21,429 restricted share units granted on March 18, 2024, one-fourth vested in 2025 and one-fourth vested in 2026. The remaining half is scheduled to vest in equal installments on March 18, 2027 and March 18, 2028, subject to the plan terms.

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

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Accepted by SEC EDGAR 03/24/2026 - 07:02 PM 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^*

Mitts Brian

(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)

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

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)

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		5,357	A	(1)	18,693(2)	D
Common Stock	03/18/2026		D		804	D	(3)	17,889	D
Common Stock	03/18/2026		F		1,200	D	$4.41	16,689	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
Restricted Share Units	(1)	03/18/2026		M			5,357	(4)	(4)	Common Shares	5,357	$0	10,714	D

Explanation of Responses:

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

2. Includes shares received pursuant to an elective stock dividend paid on the Company's common shares.

3. Represents the portion of the previously reported restricted share unit grant that vested on March 18, 2026 and settled in cash.

4. On March 18, 2024, the reporting person was granted 21,429 restricted share units. The restricted share units vested one-fourth on March 18, 2025 and one-fourth on March 18, 2026, and will vest one-fourth on March 18, 2027 and one-fourth on March 18, 2028. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

	/s/ Paul Richards, as attorney-in-fact for Brian Mitts	03/24/2026
	** 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)