NexPoint Diversified Real Estate Trust (NXDT) director Laffer reports insider stock purchases

Rhea-AI Filing Summary

NexPoint Diversified Real Estate Trust director Arthur Laffer reported open-market purchases of the company’s common stock in early December. On December 4, 2025, he bought 5,271.423 shares at a weighted average price of $2.66 per share, bringing his directly held position to 112,906.979 shares. On December 5, 2025, he purchased another 4,885.542 shares at a weighted average price of $2.87, increasing his direct holdings to 117,792.521 shares.

Also on December 5, 2025, 4,895 shares were acquired at a weighted average price of $2.86 per share through a limited liability company that he controls, resulting in 114,606 shares held indirectly. The prices reported reflect weighted averages for multiple trades within narrow price ranges, and detailed trade information is available upon request as described in the footnotes.

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

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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^*

LAFFER ARTHUR B

(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)
12/04/2025

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	12/04/2025		P		5,271.423	A	$2.66(1)	112,906.979	D
Common Stock	12/05/2025		P		4,885.542	A	$2.87(2)	117,792.521	D
Common Stock	12/05/2025		P		4,895	A	$2.86(3)	114,606	I	By limited liability company(4)

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. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.65 to $2.67, inclusive. The reporting person undertakes to provide to NexPoint Diversified Real Estate Trust, any security holder of NexPoint Diversified Real Estate Trust, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (1), (2) and (3) to this Form 4.

2. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.86 to $2.87, inclusive.

3. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.86 to $2.87, inclusive.

4. The reporting person holds these shares indirectly through a limited liability company which the reporting person controls. The reporting person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

	/s/ Paul Richards, as Attorney-in-Fact for Arthur Laffer	12/08/2025
	** 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.
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FAQ

What insider transaction did NexPoint Diversified Real Estate Trust (NXDT) disclose?

The company reported that director Arthur Laffer purchased multiple blocks of NexPoint Diversified Real Estate Trust common stock on December 4 and 5, 2025, in open-market transactions at weighted average prices between about $2.65 and $2.87 per share.

How many NXDT shares did Arthur Laffer buy on December 4, 2025?

On December 4, 2025, Arthur Laffer bought 5,271.423 NexPoint Diversified Real Estate Trust common shares at a weighted average price of $2.66 per share and directly held 112,906.979 shares afterward.

What NXDT share purchases occurred on December 5, 2025?

On December 5, 2025, he purchased 4,885.542 common shares at a weighted average price of $2.87 per share, bringing his direct holdings to 117,792.521 shares, and another 4,895 shares at a weighted average price of $2.86 per share through a limited liability company.

How many NXDT shares does Arthur Laffer hold indirectly?

Following the reported transactions, 114,606 NexPoint Diversified Real Estate Trust common shares are held indirectly through a limited liability company that he controls.

How were the NXDT purchase prices reported in the Form 4?

The prices in Column 4 are weighted average prices. For example, the December 4, 2025 purchase reflects multiple trades between $2.65 and $2.67 per share, and the December 5, 2025 purchases reflect trades between $2.86 and $2.87 per share.

What does the Form 4 say about Arthur Laffer’s beneficial ownership of indirect NXDT shares?

The filing states that he holds certain shares indirectly through a limited liability company he controls and that he disclaims beneficial ownership of those shares except to the extent of his pecuniary interest.