NXDT director exercises RSUs, adjusts share holdings

NexPoint Diversified Real Estate Trust director Arthur B. Laffer reported routine equity compensation activity.

Rhea-AI Filing Summary

NexPoint Diversified Real Estate Trust director Arthur B. Laffer reported routine equity compensation activity. On April 3, 2026, 7,813 restricted share units vested and were exercised into an equal number of common shares at $0.00 per share. As part of the settlement, 3,906 common shares were returned to the issuer, with the remainder increasing his direct holdings to 125,040 common shares. He also has 118,778 shares held indirectly through a limited liability company he controls, for which he disclaims beneficial ownership beyond his economic interest.

Insider Trade Summary

7,813 shares exercised/converted

Exercise 4 txns

Insider LAFFER ARTHUR B

Role Director

Type	Security	Shares	Price	Value
Exercise	Restricted Share Units	7,813	$0.00	$0.00
Exercise	Common Stock	7,813	$0.00	$0.00
Disposition	Common Stock	3,906	$0.00	$0.00
holding	Common Stock	--	--	--

Holdings After Transaction: Restricted Share Units — 0 contracts (Direct); Common Stock — 125,040 shares (Direct); Common Stock — 118,778 shares (Indirect, By limited liability company)

Footnotes (5)

1. F1. Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust (the "Company").
2. F2. Includes shares received pursuant to elective stock dividends paid on the Company's common shares.
3. F3. Represents the portion of previously reported restricted share unit grant that vested on April 3, 2026 and settled in cash.
4. F4. 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.
5. F5. On April 3, 2025, the reporting person was granted 7,813 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

RSUs vested and exercised: 7,813 units/shares Shares returned to issuer: 3,906 shares Direct holdings after transaction: 125,040 common shares +3 more

6 metrics

RSUs vested and exercised 7,813 units/shares Restricted share units vesting and converting to common shares on April 3, 2026

Shares returned to issuer 3,906 shares Disposition to issuer as part of settlement on April 3, 2026

Direct holdings after transaction 125,040 common shares Direct ownership following April 3, 2026 transactions

Indirect holdings via LLC 118,778 common shares Indirect ownership through a controlled limited liability company

RSU grant date and amount 7,813 RSUs on April 3, 2025 Grant vesting on April 3, 2026 with settlement generally within 10 days

Exercise price of RSUs $0.00 per share Conversion of restricted share units into common shares

Key Terms

Restricted Share Units, disposition to issuer, elective stock dividends, pecuniary interest, +1 more

5 terms

Restricted Share Units financial

"Each restricted shares 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.

disposition to issuer financial

"transaction_code_description": "Disposition to issuer""

elective stock dividends financial

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

pecuniary interest financial

"disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein"

beneficial ownership financial

"disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider activity did Arthur B. Laffer report for NXDT?

Arthur B. Laffer reported routine equity compensation activity for NXDT. 7,813 restricted share units vested and converted into common shares, and 3,906 shares were returned to the issuer, reflecting standard settlement rather than an open-market trade.

Did Arthur B. Laffer buy or sell NexPoint (NXDT) shares on the market?

The filing does not show open-market buying or selling of NXDT shares. It reports vesting and exercise of 7,813 restricted share units and a disposition of 3,906 shares back to the issuer as part of the settlement process.

How many NexPoint (NXDT) shares does Arthur B. Laffer hold directly after this Form 4?

After these transactions, Arthur B. Laffer directly holds 125,040 common shares of NXDT. This reflects the net result after his 7,813 restricted share units vested, were exercised into shares, and 3,906 shares were returned to the issuer.

What indirect NexPoint (NXDT) holdings does Arthur B. Laffer report?

He reports 118,778 NXDT shares held indirectly through a limited liability company he controls. He disclaims beneficial ownership of those shares except to the extent of his pecuniary interest, meaning they are attributed to the entity rather than solely to him personally.

What are the key terms of Arthur B. Laffer’s restricted share units in NXDT?

On April 3, 2025, he was granted 7,813 restricted share units in NXDT, each representing a contingent right to one common share. They vested on April 3, 2026, with settlement generally within 10 days and potentially in cash at the compensation committee’s discretion.

Were any of Arthur B. Laffer’s NXDT restricted units settled in cash?

Yes. A footnote states that the 7,813 restricted share units represented a previously reported grant that vested on April 3, 2026 and was settled in cash. The disposition of 3,906 shares to the issuer is part of this cash settlement structure.

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

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Accepted by SEC EDGAR 04/07/2026 - 09:47 PM EDT Learn about SEC filing dates

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^*

LAFFER ARTHUR B

(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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	04/03/2026		M		7,813	A	(1)	128,946(2)	D
Common Stock	04/03/2026		D		3,906	D	(3)	125,040	D
Common Stock								118,778(2)	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
Restricted Share Units	(1)	04/03/2026		M			7,813	(5)	(5)	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. Represents the portion of previously reported restricted share unit grant that vested on April 3, 2026 and settled in cash.

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.

5. On April 3, 2025, the reporting person was granted 7,813 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 Arthur Laffer	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)