Dondero exercises 22,350 RSUs at NexPoint Residential Trust (NYSE: NXRT)

Rhea-AI Filing Summary

NexPoint Residential Trust, Inc. director, president and 10% owner James D. Dondero reported an exercise of equity awards. On March 13, 2026, he converted 22,350 restricted stock units into an equal number of common shares at a stated price of $0.00 per share.

Following this transaction, Dondero directly holds 682,339 shares of common stock and 67,050 restricted stock units. The filing also lists substantial indirect holdings, including shares held by a trust, multiple NexPoint-managed funds, PCMG Trading Partners XXIII, L.P., and a 401(k) account, with several positions explicitly subject to beneficial ownership disclaimers.

A footnote explains that the 22,350 units are part of a 111,752 restricted stock unit grant from March 13, 2024, vesting in five equal annual installments from March 13, 2025 through March 13, 2029, with settlement generally within 10 days of each vesting date.

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

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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 TX 75201

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NexPoint Residential Trust, Inc. [ NXRT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	President

3. Date of Earliest Transaction (Month/Day/Year)
03/13/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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	03/13/2026		M		22,350	A	(1)	682,339	D
Common Stock								1,307,766	I	By trust(2)
Common Stock								153,470	I	By NexPoint Advisors, L.P(3)
Common Stock								409,063	I	See Footnote(4)
Common Stock								15,090	I	See Footnote(5)
Common Stock								856,929	I	See Footnote(6)
Common Stock								42,587.8073	I	By 401(k)

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 Stock Units	(1)	02/17/2026		M			22,350	(7)	(7)	Common Stock	22,350	$0	67,050	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of common stock of NexPoint Residential Trust, Inc.

2. These shares are held by a trust. Mr. Dondero disclaims beneficial ownership of such shares.

3. 28,322 shares are held by NexPoint Real Estate Strategies Fund, 101,739 shares are held by NexPoint Diversified Real Estate Trust and 23,409 shares are held by NexPoint Capital, Inc. These entities are managed by NexPoint Advisors, L.P. ("NP"). Mr. Dondero is the sole member of NP's general partner, and may be deemed to be an indirect beneficial owner of shares held by NP. Mr. Dondero disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

4. 213,700 shares are held by Highland Opportunities and Income Fund and 195,363 shares are held by Highland Global Allocation Fund. These entities are managed by NexPoint Asset Management, L.P., which is ultimately controlled by Mr. Dondero. Mr. Dondero may be deemed to be an indirect beneficial owner of shares held by such entities. Mr. Dondero disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

5. These shares are held through PCMG Trading Partners XXIII, L.P. ("PCMG"). The reporting person may be deemed to be an indirect beneficial owner of the shares held by PCMG. The reporting person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

6. These shares are held by a subsidiary of the trust referenced in footnote 2 to this Form 4. Mr. Dondero disclaims beneficial ownership of such shares.

7. On March 13, 2024, the reporting person was granted 111,752 restricted stock units which vested one-fifth on March 13, 2025 and one-fifth on March 13, 2026, and which will vest one-fifth on March 13, 2027, one-fifth on March 13, 2028, and one-fifth on March 13, 2029. 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 James D. Dondero	03/17/2026
	** 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).
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FAQ

What insider transaction did NXRT’s James Dondero report on this Form 4?

James D. Dondero reported exercising 22,350 restricted stock units into the same number of NexPoint Residential Trust common shares at a stated price of $0.00 per share. This reflects a compensation-related equity conversion rather than an open-market stock purchase or sale.

How many NexPoint Residential Trust (NXRT) shares does James Dondero hold after the transaction?

After the reported exercise, James D. Dondero directly holds 682,339 shares of NexPoint Residential Trust common stock. He also holds 67,050 restricted stock units, which represent additional potential shares to be delivered as they vest over future years under the award terms.

What are the terms of James Dondero’s 111,752 restricted stock unit grant at NXRT?

The 111,752 restricted stock units granted on March 13, 2024 vest in five equal one-fifth installments from March 13, 2025 through March 13, 2029. Settlement generally occurs within 10 days of each vesting date and may, at the Compensation Committee’s discretion, be in cash.

Does James Dondero have indirect holdings of NexPoint Residential Trust (NXRT) shares?

Yes. The filing lists indirect holdings through a trust, several NexPoint-managed funds, PCMG Trading Partners XXIII, L.P., a subsidiary of the trust, and a 401(k). Footnotes state he may be deemed an indirect beneficial owner but disclaims beneficial ownership except to the extent of any pecuniary interest.

Were any NexPoint Residential Trust (NXRT) shares sold by James Dondero in this Form 4?

The Form 4 shows no open-market sales. It reports an exercise or conversion of 22,350 restricted stock units into common shares, coded as an “M” transaction. The transaction summary indicates no buy or sell transactions, only acquisition through derivative exercise.

How are the NexPoint funds related to James Dondero’s NXRT holdings described?

Footnotes state that shares are held by entities such as NexPoint Real Estate Strategies Fund, NexPoint Diversified Real Estate Trust, NexPoint Capital, Inc., Highland Opportunities and Income Fund, and Highland Global Allocation Fund. These are managed by NexPoint-affiliated advisers, and Dondero may be deemed an indirect beneficial owner but disclaims ownership beyond his pecuniary interest.