NORRIS DUSTIN DAVID 4

What Happened
Dustin David Norris, Executive Vice President of NexPoint Diversified Real Estate Trust (NXDT), had 17,857 restricted share units (RSUs) vest on March 18, 2026 and converted them into common shares. To satisfy tax withholding, 6,551 of those shares were withheld/disposed at $4.41 per share for a tax payment of $28,890, leaving a net issuance of 11,306 shares to Norris.

Key Details

• Transaction date: March 18, 2026; Form 4 filed March 20, 2026 (appears timely).
• Vesting/conversion: 17,857 RSUs converted to common shares (transaction code M).
• Tax withholding: 6,551 shares withheld/disposed at $4.41 each for $28,890 (transaction code F).
• Net shares issued to insider: 17,857 − 6,551 = 11,306 shares.
• Footnotes: F1 confirms each RSU represents a right to one common share; F3 shows these RSUs were part of a 71,429‑unit grant that vests in four annual tranches (this was a scheduled vesting tranche).
• Shares owned after transaction: not specified in the filing.

Context
This was a standard vesting/settlement of RSUs, not an open‑market purchase or purposeful sale for investment reasons; the only disposition was a tax withholding. Such settlements are routine compensation events and do not by themselves indicate insider sentiment about the company.