KAMFAR RAMIN 4

What Happened

• Ramin Kamfar, Chairman, Chief Executive Officer and a director of Bluerock Homes Trust, received a grant of 13,624 long-term incentive plan units (LTIP Units) on 2026-05-12. The award is reported as a derivative acquisition (transaction code A); no cash price was paid.
• The LTIP Units were fully vested on issuance. They may convert to OP Units once they reach capital account equivalency with the Issuer’s OP Units, and after conversion 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 award was issued in partial satisfaction of the Issuer’s base management fee and reimbursement obligations.

Key Details

• Transaction date: 2026-05-12; filing date: 2026-05-14 (timely — Form 4 filed within the usual two-business-day window).
• Amount: 13,624 LTIP Units; price: N/A (compensation award, not an open-market trade).
• Instrument: LTIP Units (derivative), fully vested on issuance; may convert to OP Units and later into cash or Class A shares after conditions are met.
• Shares owned after transaction: not specified in the filing.
• Footnote: Units issued to satisfy base management fee and to reimburse an affiliate for a portion of salary payable to the reporting person.

Context: This is a compensation-related award rather than a market purchase or sale. Such grants are common for executives and reflect pay/fee arrangements, not an immediate market-view trade.