DONDERO JAMES D 4
4 · NexPoint Residential Trust, Inc. · Filed Feb 19, 2026
Research Summary
AI-generated summary of this filing
NexPoint (NXRT) 10% Owner James Dondero Converts 20,749 RSUs
What Happened
James D. Dondero, a reported 10% owner of NexPoint Residential Trust, converted/vested restricted stock units (derivative exercises, code M) that resulted in the issuance of 20,749 common shares. The filing shows conversions of 8,810 shares on Feb 17, 2026 and 11,939 shares on Feb 18, 2026. Acquisition prices are reported as N/A and the corresponding derivative disposals are reported at $0 — consistent with RSU vesting/settlement rather than an open-market purchase or cash sale.
Key Details
- Transaction dates: Feb 17, 2026 (8,810 shares) and Feb 18, 2026 (11,939 shares); total = 20,749 shares converted.
- Transaction code: M (exercise/conversion of a derivative). Acquired prices: N/A; Disposed prices: $0 (reflects conversion of RSUs to shares).
- Shares owned after the transactions: not specified in the Form 4 provided.
- Notable footnotes:
- F1/F8/F9 — these were restricted stock units (RSUs) awarded in prior years with scheduled vesting; settlement generally occurs within 10 days and may be cash or stock.
- F3–F7 — many shares are held in trusts and funds managed by entities connected to Mr. Dondero; he disclaims direct beneficial ownership of some holdings except to the extent of pecuniary interest.
- Filing timeliness: Report filed Feb 19, 2026 for transactions on Feb 17–18, 2026 (filed within the typical two-business-day Form 4 window).
Context
- This was a conversion/vesting of RSUs, not an open-market buy or sale. Disposals at $0 on the Form 4 reflect conversion of the derivative instruments to underlying shares.
- For retail investors: RSU vesting is typically routine compensation-related activity and does not necessarily signal a change in insider sentiment. As a 10% owner with many indirect holdings, Dondero’s broader economic interests are often held through managed funds and trusts (see footnotes), so these conversions are likely administrative/compensation events.
Insider Transaction Report
Form 4
DONDERO JAMES D
DirectorPresident10% Owner
Transactions
- Exercise/Conversion
Common Stock
[F1][F2]2026-02-17+8,810→ 648,050 total - Exercise/Conversion
Common Stock
[F1]2026-02-18+11,939→ 659,989 total - Exercise/Conversion
Restricted Stock Units
[F1][F8]2026-02-17−8,810→ 8,810 total→ Common Stock (8,810 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F9]2026-02-17−11,939→ 0 total→ Common Stock (11,939 underlying)
Holdings
- 1,307,766(indirect: By Trust)
Common Stock
[F2][F3] - 153,470(indirect: By NexPoint Advisors, L.P.)
Common Stock
[F4] - 409,063(indirect: See Footnote)
Common Stock
[F2][F5] - 15,090(indirect: See Footnote)
Common Stock
[F2][F6] - 856,929(indirect: See Footnote)
Common Stock
[F7] - 42,587.807(indirect: By 401(k))
Common Stock
[F2]
Footnotes (9)
- [F1]Each restricted stock unit represents a contingent right to receive one share of common stock of NexPoint Residential Trust, Inc.
- [F2]Includes shares acquired under a dividend reinvestment plan.
- [F3]These shares are held by a trust. Mr. Dondero disclaims beneficial ownership of such shares.
- [F4]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.
- [F5]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.
- [F6]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.
- [F7]These shares are held by a subsidiary of the trust referenced in footnote 3 to this Form 4. Mr. Dondero disclaims beneficial ownership of such shares.
- [F8]On February 17, 2022, the reporting person was granted 44,051 restricted stock units which vested one-fifth on February 17, 2023, one-fifth on February 17, 2024, one-fifth on February 17, 2025, one-fifth on February 17, 2026, and which will vest one-fifth on February 17, 2027. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.
- [F9]On February 18, 2021, the reporting person was awarded 59,703 restricted stock units, which vested one-fifth on February 18, 2022, one-fifth on February 18, 2023, one-fifth on February 18, 2024, one-fifth on February 18, 2025, and one-fifth on February 18, 2026. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash
Signature
/s/ Paul Richards as attorney-in-fact for James D. Dondero|2026-02-19