Ruddy Jordan B. 4

What Happened
Ruddy Jordan, President of Bluerock Homes Trust, Inc. (BHM), received an award of 32,156 long‑term incentive plan units (LTIP Units) on April 1, 2026. This is a derivative grant (transaction code A) — no purchase price or cash value is reported in the Form 4. This is a grant/award, not a purchase or sale.

Key Details

• Transaction date: 2026-04-01; Form 4 filed: 2026-04-03 (timely filing).
• Security: 32,156 LTIP Units in Bluerock Residential Holdings, LP (derivative of the issuer). Price: N/A.
• Shares/units owned after transaction: not disclosed in this filing.
• Footnote highlights:
  • F1: LTIP Units issued to satisfy a reimbursement obligation to an affiliate; vest ratably annually over three years from April 1, 2026.
  • F2: After vesting, LTIP Units may convert to Operating Partnership (OP) units once capital account parity is met; they may be redeemed for cash or, at the issuer’s option (and after a one‑year holding period), settled one‑for‑one in the issuer’s Class A common stock. The holder will receive distribution equivalents on the LTIP Units whether vested or not.
• Filing timeliness: Not marked late (transaction on Apr 1; filed Apr 3).

Context
This filing documents a deferred/derivative compensation award rather than an open‑market purchase or sale. The LTIP Units have vesting and conversion conditions, and are not immediately convertible to common stock or cash absent the stated triggers, so this does not represent an immediate market trade. Distribution equivalents will be paid as if the units were common stock holdings.