NexPoint (NYSE: NXDT) awards 245,415 restricted units vesting through 2030

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 245,415 restricted share units on June 2, 2026. Each restricted share unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust upon settlement.

The 245,415 restricted share units will vest 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 discretion of the Compensation Committee, may be settled in cash. Following this grant, Dondero holds 245,415 restricted share units directly.

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	245,415	$0.00	--

Holdings After Transaction: Restricted Share Units — 245,415 shares (Direct, null)

Footnotes (1)

1. Each restricted share unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust. On June 2, 2026, the reporting person was granted 245,415 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: 245,415 restricted share units Underlying common shares: 245,415 common shares Post-grant RSU holdings: 245,415 restricted share units +1 more

4 metrics

RSUs granted 245,415 restricted share units Grant to James D. Dondero on June 2, 2026

Underlying common shares 245,415 common shares One common share per restricted share unit

Post-grant RSU holdings 245,415 restricted share units Total derivative holdings following the reported grant

Vesting dates June 2, 2027; Feb 15, 2028; Feb 15, 2029; Feb 15, 2030 Four equal vesting installments for the RSU grant

Key Terms

Restricted Share Units, contingent right, vest, 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.

contingent right financial

"represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust"

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.

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 →

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)
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		245,415		(2)	(2)	Common Shares	245,415	$0	245,415	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 245,415 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:

President

	/s/ Paul Richards, as attorney-in-fact for James Dondero	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)

FAQ

What insider transaction did NXDT report for James D. Dondero?

NexPoint Diversified Real Estate Trust reported that James D. Dondero received 245,415 restricted share units on June 2, 2026. This is a compensation-related equity award rather than an open-market stock purchase or sale.

How many restricted share units were granted to James D. Dondero at NXDT?

James D. Dondero was granted 245,415 restricted share units. Each unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust upon settlement, subject to the specified vesting schedule.

What is the vesting schedule for James D. Dondero’s NXDT restricted share units?

The 245,415 restricted share units vest in four equal parts: one-fourth on June 2, 2027, then one-fourth on February 15, 2028, February 15, 2029 and February 15, 2030. Vesting must occur before settlement.

How are James D. Dondero’s NXDT restricted share units settled?

Settlement generally occurs within 10 days after each vesting date. The Compensation Committee may choose to settle the vested units in cash instead of issuing common shares of NexPoint Diversified Real Estate Trust.

Do James D. Dondero’s NXDT restricted share units convert into common shares?

Each restricted share unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust. Actual receipt of common shares depends on vesting and whether the Compensation Committee settles in stock rather than cash.

What is James D. Dondero’s position in NXDT after this Form 4 transaction?

After the June 2, 2026 grant, James D. Dondero directly holds 245,415 restricted share units. These units are derivative securities tied to NexPoint Diversified Real Estate Trust common shares and are subject to the disclosed vesting and settlement terms.