Director at NexPoint (NXDT) granted 3,247 restricted share units

Rhea-AI Filing Summary

Constantino Edward N. reported acquisition or exercise transactions in this Form 4 filing.

NexPoint Diversified Real Estate Trust director Edward N. Constantino received a compensation grant of 3,247 restricted share units on April 2, 2026. Each unit represents a contingent right to receive one common share, vesting on April 2, 2027. Settlement is expected within 30 days after vesting and may, at the Compensation Committee’s discretion, be made in cash instead of shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Constantino Edward N.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Restricted Share Units	3,247	$0.00	$0.00

Holdings After Transaction: Restricted Share Units — 3,247 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 3,247 restricted share units which will vest on April 2, 2027. Settlement will generally occur within 30 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

Key Figures

RSUs granted: 3,247 units Post-grant RSU holdings: 3,247 units RSU-to-share ratio: 1 RSU : 1 share +2 more

5 metrics

RSUs granted 3,247 units Restricted share units granted on April 2, 2026

Post-grant RSU holdings 3,247 units Total RSUs held following the transaction

RSU-to-share ratio 1 RSU : 1 share Each RSU represents one common share of NXDT

Vesting date April 2, 2027 RSUs vest one year after grant

Transaction price $0.00 per unit Compensation grant, no purchase price paid

Key Terms

Restricted Share Units, vest, settled in cash

3 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

"granted 3,247 restricted share units which will vest 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.

settled in cash financial

"Settlement will generally occur within 30 days of vesting and may at the discretion of the Compensation Committee be settled in cash"

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 - 07:40 PM Learn about SEC filing dates

FAQ

What insider transaction did NXDT report for director Edward N. Constantino?

NXDT reported that director Edward N. Constantino received 3,247 restricted share units as a compensation grant. These RSUs were awarded on April 2, 2026 and represent a contingent right to receive an equivalent number of NexPoint common shares upon vesting.

When do Edward N. Constantino’s 3,247 NXDT restricted share units vest?

The 3,247 restricted share units granted to Edward N. Constantino vest on April 2, 2027. This one-year vesting schedule means he must remain eligible through that date before receiving settlement, aligning the award with longer-term service and performance considerations at NXDT.

How many NXDT restricted share units does each RSU represent for Edward N. Constantino?

Each restricted share unit granted to Edward N. Constantino represents one common share of NXDT. In total, the 3,247 RSUs correspond to a contingent right to receive 3,247 common shares, subject to vesting and the final settlement method chosen by the Compensation Committee.

Can the NexPoint (NXDT) restricted share units be settled in cash instead of shares?

Yes. The filing states settlement of the 3,247 restricted share units will generally occur within 30 days of vesting and may, at the Compensation Committee’s discretion, be settled in cash rather than common shares, giving NXDT flexibility in how it delivers the award’s value.

Is Edward N. Constantino’s Form 4 transaction a market purchase or sale of NXDT shares?

No. The Form 4 shows a grant of 3,247 restricted share units, coded as an acquisition (A) for compensation, not an open-market buy or sell. There were no reported market purchases or sales of NXDT common shares in this specific filing.

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^*

Constantino Edward N.

(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)
04/02/2026

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		3,247		(2)	(2)	Common Shares	3,247	$0	3,247	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 3,247 restricted share units which will vest on April 2, 2027. Settlement will generally occur within 30 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

	/s/ Paul Richards as attorney-in-fact for Edward Constantino	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)