DiFranco Michael 4

What Happened
Michael DiFranco, Executive VP, Operations of Bluerock Homes Trust, Inc. (BHM), was granted 4,529 long-term incentive plan units (LTIP Units) in the Operating Partnership on April 1, 2026. The award is reported as a derivative grant (Form 4 code A); no cash price is reported. The LTIP Units will vest ratably each year over a three-year period beginning April 1, 2026.

Key Details

• Transaction date: 2026-04-01; Filing date: 2026-04-03 (Form 4) — appears timely.
• Grant type/code: Award/Grant (A), derivative units; price: N/A.
• Amount: 4,529 LTIP Units.
• Shares/units owned after transaction: Not specified in this filing.
• Footnote summary:
  • F1: LTIP Units were issued by the Operating Partnership at the Manager’s direction to satisfy a reimbursement obligation to an affiliate (BREH) for equity compensation payable to DiFranco.
  • F2: Once vested, LTIP Units may convert to OP Units when they reach capital-account equivalency, and may then be redeemed for cash or, after a one-year holding period, settled in BHM Class A common stock on a one-for-one basis. The units also accrue distribution equivalents whether or not vested.

Context
This is a compensation award (not an open-market purchase or sale). LTIP Units are partnership-style, derivative interests rather than immediate shares of BHM common stock; conversion and settlement into equity or cash are subject to future conditions (capital account equivalency and holding period). Awards like this are standard executive compensation and do not by themselves indicate a buy/sell signal.