DONDERO JAMES D 4
4 · NexPoint Real Estate Finance, Inc. · Filed Feb 24, 2026
Insider Transaction Report
Form 4
DONDERO JAMES D
DirectorPresident10% Owner
Transactions
- Exercise/Conversion
Common Stock
[F1]2026-02-21+17,308→ 369,974 total - Exercise/Conversion
Restricted Stock Units
[F1][F7]2026-02-21−17,308→ 0 total→ Common Stock (17,308 underlying)
Holdings
- 5,694,671(indirect: See Footnote)
Common Stock
[F2] - 3,649,759(indirect: See Footnote)
Common Stock
[F3] - 327,286(indirect: See Footnote)
Common Stock
[F4] - 1,800(indirect: See Footnote)
Common Stock
[F5] - 240,124(indirect: By Trust)
Common Stock
[F6]
Footnotes (7)
- [F1]Each restricted stock unit represents a contingent right to receive one share of common stock of NexPoint Real Estate Finance, Inc.
- [F2]1,322,385 shares are held by Highland Global Allocation Fund and 4,372,286 shares are held by Highland Opportunities and Income Fund. These entities are managed by NexPoint Asset Management, L.P. ("NexPoint Asset Management"). Mr. Dondero is the sole stockholder and director of Strand Advisors XVI, Inc., NexPoint Asset Management's general partner, and may be deemed to be an indirect beneficial owner of securities held by NexPoint Asset Management. Mr. Dondero disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.
- [F3]2,952,273 shares are held by NexPoint Diversified Real Estate Trust Operating Partnership, L.P., 281,817 shares are held by NexPoint Real Estate Strategies Fund and 415,669 shares are held by NexPoint Capital, Inc. These entities are managed or advised, directly or indirectly, 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 securities held by NP. Mr. Dondero disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.
- [F4]95,207 shares are held by a company which is an indirect wholly owned subsidiary of a trust of which Mr. Dondero is the beneficiary. The remaining shares of common stock are held directly by the trust. Mr. Dondero disclaims beneficial ownership of the shares held directly or indirectly by the trust except to the extent of his pecuniary interest therein.
- [F5]These shares are held by a limited liability company in which the trust referenced in footnote 4 to this Form 4 owns a majority interest. Mr. Dondero disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
- [F6]These shares are held by a trust. Mr. Dondero disclaims beneficial ownership of such shares.
- [F7]On February 21, 2022, the reporting person was granted 69,235 restricted stock units. The restricted stock units vested one-fourth on February 21, 2023, one-fourth on February 21, 2024, one-fourth on February 21, 2025 and one-fourth on February 21, 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 Dondero|2026-02-24