MacDonald Ryan S 4

4 · Bluerock Homes Trust, Inc. · Filed Apr 3, 2026

AI-generated summary of this filing

Updated Apr 3, 2026

Bluerock Homes (BHM) CIO Ryan MacDonald Receives LTIP Award

What Happened

Ryan S. MacDonald, Chief Investment Officer of Bluerock Homes Trust, Inc. (BHM), was granted 9,511 long‑term incentive plan units ("LTIP Units") in the company's operating partnership on April 1, 2026. The grant is recorded as an award/derivative (Form 4 code A) and no cash price was reported (N/A) because the units were issued to satisfy a reimbursement obligation between affiliated managers.

Key Details

Transaction date: 2026-04-01; Transaction type: Award/Grant (A); Amount: 9,511 LTIP Units; Price: N/A (units issued as reimbursement).
Vesting: LTIP Units vest ratably over three years from April 1, 2026 (annual vesting).
Conversion/settlement: Once vested, LTIP Units may convert to limited partnership (OP) units upon reaching capital account equivalency, and then may be redeemed for cash or—at the issuer’s option after a one‑year holding period—settled one‑for‑one in Class A common stock. The holder is entitled to distribution equivalents while units are outstanding (see footnotes F1–F2).
Shares owned after the transaction: Not specified in this filing.
Filing timeliness: Report filed 2026-04-03 for a 2026-04-01 grant (filed within typical SEC reporting window).

Context

This was an equity award rather than an open‑market purchase or sale, so it reflects compensation rather than a direct market bet. For retail investors, awards can dilute over time if converted to shares but also align executive incentives with company performance.

Form 4

Period: 2026-04-01

Chief Investment Officer

Transactions

Award
LTIP Units
[F1][F2]
2026-04-01+9,511→ 116,492 total
→ Class A Common Stock (9,511 underlying)

Footnotes (2)

[F1]Represents long-term incentive plan units ("LTIP Units") in Bluerock Residential Holdings, LP (the "Operating Partnership"), of which the Issuer is the general partner. The LTIP Units were issued at the direction of Bluerock Homes Manager, LLC (the "Manager"), in satisfaction of the Manager's reimbursement obligation to its affiliate, Bluerock Real Estate Holdings, LLC ("BREH") for the portion of the annual equity incentive award payable by BREH to the Reporting Person for services provided to the Manager in the Reporting Person's capacity as Chief Investment Officer thereof. Such LTIP Units will vest ratably on an annual basis over a three-year period from April 01, 2026.
[F2]Once vested, these LTIP Units may convert to limited partnership interests of the Operating Partnership ("OP Units") upon reaching capital account equivalency with the OP Units held by the Issuer, and may then be redeemed for cash or, at the option of the Issuer and after a one year holding period (including any period during which the LTIP Units were held), settled in shares of the Issuer's Class A common stock on a one-for-one basis. The Reporting Person will be entitled to receive "distribution equivalents" with respect to such LTIP Units, whether or not vested, at the same time as distributions are paid to the holders of the Issuer's Class A common stock.

Signature

/s/ Christopher J. Vohs, Attorney-In-Fact|2026-04-03

1 file