Richards Paul 4

What Happened

• Paul Richards — Chief Financial Officer, Executive VP‑Finance, Treasurer and Assistant Secretary of NexPoint Residential Trust (NXRT) — had restricted stock units (RSUs) convert to common shares on Feb 17–18, 2026. A total of 1,147 RSUs vested (455 on Feb 17 and 692 on Feb 18).
• To satisfy tax withholding, 252 shares (valued at $29.46 each; $7,424) were surrendered on Feb 17 and 398 shares (valued at $29.93 each; $11,912) were surrendered on Feb 18, for total withheld value of $19,336. Net shares issued to Richards were 203 on Feb 17 and 294 on Feb 18 (497 total).

Key Details

• Transaction dates/prices:
  • Feb 17, 2026: 455 RSUs converted to 455 shares (derivative conversion, code M); 252 shares withheld to cover taxes at $29.46 (code F) = $7,424.
  • Feb 18, 2026: 692 RSUs converted to 692 shares (derivative conversion, code M); 398 shares withheld to cover taxes at $29.93 (code F) = $11,912.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes:
  • F1: Each RSU represents a right to one common share upon settlement.
  • F2/F3: Grants were made in 2022 (2,274 RSUs) and 2021 (3,468 RSUs) with multi‑year vesting schedules; the Feb 17–18 payments reflect scheduled vesting installments. Settlement generally occurs within 10 days and may be cash at the Compensation Committee’s discretion.
• Filing timeliness: Form 4 filed Feb 19, 2026 for transactions on Feb 17–18, 2026 (within the normal 2‑business‑day reporting window for officers).

Context

• These filings reflect routine RSU vesting and tax‑withholding (shares surrendered to cover tax liability), not an open‑market sale or a discretionary purchase. The derivative entries show $0 exercise price because vested RSUs convert to shares rather than being exercised at a strike price. Tax‑withholding dispositions (code F) are common and generally do not signal a buy/sell opinion by the insider.