Richards Paul 4

What Happened
Paul Richards, Chief Financial Officer (also EVP–Finance, Treasurer and Assistant Secretary) of NexPoint Residential Trust (NXRT), had 1,416 restricted stock units (RSUs vest) on March 13, 2026. Those RSUs converted into 1,416 shares; 743 of those shares were withheld to satisfy tax withholding obligations (743 x $25.73 = $19,117). The net delivery to Richards was 673 shares (1,416 vested minus 743 withheld).

Key Details

• Transaction date: March 13, 2026 (Form 4 filed March 17, 2026; filing appears timely).
• Actions reported: Exercise/conversion of derivative (RSU vesting) and tax withholding (code M for conversion, F for tax-withholding).
• Shares converted: 1,416; shares withheld for taxes: 743 at $25.73/share = $19,117.
• Implied net shares received: 673 shares delivered to Richards.
• Footnotes: Each RSU represents the right to one share. The RSUs were part of a 7,080-RSU grant on March 13, 2024 that vests in five equal annual installments (one-fifth vested on 3/13/2025 and 3/13/2026). Settlement generally occurs within 10 days of vesting and may be paid in cash at the Compensation Committee’s discretion.
• Shares owned after transaction: Not specified in the filing.

Context
This was a routine RSU vesting and tax-withholding event, not an open-market purchase or sell order. Withholding of shares to cover taxes is common and does not necessarily indicate a directional view on the stock.