What are the terms of the restricted share units reported for NXDT?

Each restricted share unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust. Footnotes state a grant of 7,918 restricted share units on April 3, 2025 vested on April 3, 2026, with settlement generally within 10 days and potentially in cash.

Catherine D. Wood increases NXDT (NYSE: NXDT) stake via 7,813-share equity award

Q: Can NXDT restricted share units be settled in cash instead of stock?

Yes. The filing notes that settlement of the restricted share units will generally occur within 10 days of vesting and, at the Compensation Committee’s discretion, may be settled in cash. This flexibility is built into the plan’s terms as described in the footnotes.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

NexPoint Diversified Real Estate Trust director Catherine D. Wood reported routine equity compensation activity. She received restricted share units that each represent a right to one common share of NexPoint Diversified Real Estate Trust. She also exercised derivative rights to acquire 7,813 common shares at a price of $0.00 per share, bringing her direct holdings to 46,883 common shares.

Footnotes explain that some shares include amounts received through elective stock dividends on the company’s common shares. A prior grant of 7,918 restricted share units made on April 3, 2025 vested on April 3, 2026, with settlement generally occurring within 10 days of vesting and at the Compensation Committee’s discretion may be settled in cash.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Wood Catherine D.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Restricted Share Units	7,813	$0.00	--
Exercise	Common Stock	7,813	$0.00	--

Holdings After Transaction: Restricted Share Units — 0 shares (Direct); Common Stock — 46,883 shares (Direct)

Footnotes (1)

Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust (the "Company"). Includes shares received pursuant to elective stock dividends paid on the Company's common shares. On April 3, 2025, the reporting person was granted 7,918 restricted share units which vested on April 3, 2026. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

Key Figures

Common shares acquired: 7,813 shares Acquisition price: $0.00 per share Post-transaction holdings: 46,883 shares +3 more

6 metrics

Common shares acquired 7,813 shares Derivative exercise/conversion into common stock on April 3, 2026

Acquisition price $0.00 per share Price for 7,813 common shares acquired via derivative exercise

Post-transaction holdings 46,883 shares Total direct NXDT common shares after reported transactions

RSU-to-share ratio 1 RSU : 1 share Each restricted share unit converts into one common share

Prior RSU grant 7,918 units Restricted share units granted on April 3, 2025, vested April 3, 2026

Settlement window Within 10 days Settlement period after vesting of the 2025 RSU grant

Key Terms

Restricted Share Units, elective stock dividends, Compensation Committee

3 terms

elective stock dividends financial

"Includes shares received pursuant to elective stock dividends paid on the Company's common shares."

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.

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Form 4 Insider Transactions: What Each Field Means →

04/07/2026 - 09:50 PM

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^*

Wood Catherine 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	10% Owner
	Officer (give title below)	Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/03/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	04/03/2026		M		7,813	A	⁽¹⁾	46,883⁽²⁾	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Share Units	⁽¹⁾	04/03/2026		A			7,813	⁽³⁾	⁽³⁾	Common Shares	7,813	$0	0	D

Explanation of Responses:

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

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

3. On April 3, 2025, the reporting person was granted 7,918 restricted share units which vested on April 3, 2026. 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 Catherine Wood	04/07/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did NXDT director Catherine D. Wood report on this Form 4?

Catherine D. Wood reported equity compensation-related acquisitions. She received restricted share units tied to NexPoint Diversified Real Estate Trust common shares and exercised derivative rights to acquire 7,813 common shares at $0.00 per share, increasing her direct ownership position in the company.

How many NXDT common shares does Catherine D. Wood hold after these transactions?

After these transactions, Catherine D. Wood holds 46,883 NexPoint Diversified Real Estate Trust common shares directly. This figure reflects her position following the 7,813-share acquisition reported, and shows the scale of her ongoing equity stake in the company as a director.

Were any NXDT shares sold in this Form 4 filing by Catherine D. Wood?

No sales were reported. The filing shows acquisitions only: a grant of restricted share units and an exercise of derivative rights to receive 7,813 common shares. There are no open-market sale or disposition transactions disclosed in this particular Form 4 submission.

How were elective stock dividends reflected in Catherine D. Wood’s NXDT holdings?

Footnotes explain that her holdings include shares received through elective stock dividends on NexPoint Diversified Real Estate Trust’s common shares. This means some of her reported share balance reflects dividends taken in stock form rather than cash distributions from the company.