James Dondero (NXDT) granted 112,594 RSUs in NexPoint Diversified Real Estate Trust

Rhea-AI Filing Summary

DONDERO JAMES D reported acquisition or exercise transactions in this Form 4 filing.

NexPoint Diversified Real Estate Trust director and officer James D. Dondero received a grant of 112,594 restricted share units (RSUs) on April 2, 2026. Each RSU represents a contingent right to receive one common share of the trust.

The RSUs vest in four equal installments: one-fourth on April 2, 2027, one-fourth on February 15, 2028, one-fourth on February 15, 2029, and one-fourth on February 15, 2030. Settlement generally occurs within 10 days of each vesting date and, at the Compensation Committee’s discretion, may be settled in cash instead of shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider DONDERO JAMES D

Role See Remarks

Type	Security	Shares	Price	Value
Grant/Award	Restricted Share Units	112,594	$0.00	$0.00

Holdings After Transaction: Restricted Share Units — 112,594 shares (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 April 2, 2026, the reporting person was granted 112,594 restricted share units. The restricted share units will vest one-fourth on April 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: 112,594 units RSUs vesting 2027: 28,148.5 units RSUs vesting 2028: 28,148.5 units +4 more

7 metrics

RSUs granted 112,594 units Grant to James D. Dondero on April 2, 2026

RSUs vesting 2027 28,148.5 units One-fourth vests on April 2, 2027

RSUs vesting 2028 28,148.5 units One-fourth vests on February 15, 2028

RSUs vesting 2029 28,148.5 units One-fourth vests on February 15, 2029

RSUs vesting 2030 28,148.5 units One-fourth vests on February 15, 2030

Price per RSU $0.00 Grant, award, or other acquisition code A

RSU holdings after grant 112,594 units Total derivative holdings following this transaction

Key Terms

Restricted Share Units, vest, settlement, Compensation Committee

4 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 April 2, 2027"

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"

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

"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.

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

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 04/06/2026 - 07:41 PM Learn about SEC filing dates

FAQ

What did James D. Dondero receive in this NXDT Form 4 filing?

James D. Dondero received a grant of 112,594 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, subject to future vesting conditions and settlement terms.

How many restricted share units were granted to Dondero by NXDT?

NexPoint Diversified Real Estate Trust granted James D. Dondero 112,594 restricted share units. These units correspond to up to 112,594 common shares, delivered over time as they vest, assuming settlement occurs in shares rather than cash at the Compensation Committee’s discretion.

What is the vesting schedule for James Dondero’s 112,594 NXDT RSUs?

The 112,594 restricted share units vest in four equal parts. One-fourth vests on April 2, 2027, another fourth on February 15, 2028, another on February 15, 2029, and the final fourth on February 15, 2030, subject to applicable conditions.

How will James Dondero’s NXDT restricted share units be settled?

Settlement of the restricted share units will generally occur within 10 days after each vesting date. The Compensation Committee may choose to settle the vested units either in NexPoint Diversified Real Estate Trust common shares or in cash, at its discretion.

What does each restricted share unit represent for NXDT insiders?

Each restricted share unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust. The right becomes deliverable only after the unit vests and is then settled, which may be in shares or cash depending on Compensation Committee decisions.

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^*

DONDERO JAMES D

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/02/2026

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)	04/02/2026		A		112,594		(2)	(2)	Common Shares	112,594	$0	112,594	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 April 2, 2026, the reporting person was granted 112,594 restricted share units. The restricted share units will vest one-fourth on April 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:

President

	/s/ Paul Richards, as attorney-in-fact for James Dondero	04/06/2026
	** 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)