NexPoint grants 19,817 RSUs to officer

Sauter Dennis Charles Jr reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Sauter Dennis Charles Jr reported acquisition or exercise transactions in this Form 4 filing.

NexPoint Diversified Real Estate Trust reported that officer Dennis Charles Sauter Jr received a grant of 19,817 restricted share units on June 2, 2026. Each unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

The grant vests in four equal installments: 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 each vesting date and, at the Compensation Committee’s discretion, may be settled in cash instead of shares. Following this award, Sauter holds 19,817 restricted share units directly.

Insider Trade Summary

Grant/Award: 19,817 shares

Grant/Award 1 txn

Insider Sauter Dennis Charles Jr

Role See Remarks

Type	Security	Shares	Price	Value
Grant/Award	Restricted Share Units	19,817	$0.00	$0.00

Holdings After Transaction: Restricted Share Units — 19,817 contracts (Direct)

Footnotes (2)

1. F1. Each restricted share unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.
2. F2. On June 2, 2026, the reporting person was granted 19,817 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: 19,817 units Post-grant RSU holdings: 19,817 units First vesting date: June 2, 2027 +3 more

6 metrics

RSUs granted 19,817 units Restricted share units granted on June 2, 2026

Post-grant RSU holdings 19,817 units Restricted share units held directly after the transaction

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, vest, settlement, Compensation Committee, +1 more

5 terms

Restricted Share Units financial

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

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.

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.

settlement financial

"Settlement will generally occur within 10 days of vesting and may at the discretion"

Settlement is the process of completing a financial transaction, like buying or selling a stock, by transferring money and ownership between parties. It ensures that both the buyer gets the asset and the seller gets paid, making the deal official. Without settlement, the transaction wouldn't be finalized or legally recognized.

Compensation Committee financial

"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.

contingent right financial

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

FAQ

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

What did NexPoint Diversified Real Estate Trust (NXDT) disclose in this Form 4?

NexPoint Diversified Real Estate Trust disclosed that officer Dennis Charles Sauter Jr received a grant of 19,817 restricted share units on June 2, 2026. These units vest over four installments and represent contingent rights to receive common shares or, at the company’s discretion, cash.

How many restricted share units were granted to Dennis Charles Sauter Jr at NXDT?

Dennis Charles Sauter Jr was granted 19,817 restricted share units. Each restricted share unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust, subject to a multi-year vesting schedule and potential cash settlement determined by the Compensation Committee.

What is the vesting schedule for the 19,817 restricted share units at NXDT?

The 19,817 restricted share 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. Each vesting date triggers potential settlement within about ten days.

How will the NexPoint (NXDT) restricted share units granted to Sauter be settled?

The restricted share units will generally be settled within 10 days after each vesting date. Settlement may be in common shares of NexPoint Diversified Real Estate Trust or, at the Compensation Committee’s discretion, in cash instead of shares, providing flexibility in how the award is delivered.

What does each restricted share unit represent for NXDT’s officer grant?

Each restricted share unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust. The right becomes deliverable only as units vest according to the specified schedule and are then settled in shares or cash, as determined by the Compensation Committee.

How many restricted share units does Dennis Charles Sauter Jr hold after this NXDT grant?

After the grant, Dennis Charles Sauter Jr holds 19,817 restricted share units directly. These units are subject to the four-part vesting schedule extending from June 2, 2027 through February 15, 2030, and will be settled shortly after each vesting date in shares or cash.

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

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Accepted by SEC EDGAR 06/04/2026 - 05:38 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^*

Sauter Dennis Charles Jr

(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		19,817		(2)	(2)	Common Shares	19,817	$0	19,817	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 19,817 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:

General Counsel and Secretary

	/s/ Paul Richards, as attorney-in-fact for D.C. Sauter	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)