Sauter Dennis Charles Jr 4

What Happened

• Dennis Charles Sauter Jr., General Counsel and Secretary of NexPoint Residential Trust, had 2,073 restricted stock units (RSUs) convert on March 28, 2026. The RSUs converted at an effective exercise/conversion price of $0.00. To cover tax withholding, 654 of the resulting shares were surrendered at $24.60 per share for a withholding value of $16,088, leaving 1,419 net shares issued to him.

Key Details

• Transaction date: 2026-03-28; Form 4 filed 2026-03-31 (timely).
• Actions reported:
  • M (exercise/conversion): 2,073 RSUs converted to shares (acquired).
  • F (tax withholding): 654 shares surrendered at $24.60 per share = $16,088 (disposed).
  • M (derivative disposition): 2,073 reported as converted/terminated as part of the RSU settlement.
• Net shares received by Sauter (after withholding): 1,419 shares.
• Footnotes:
  • F1: Each RSU represents a contingent right to one share.
  • F2: These RSUs were from a 3/28/2023 grant that vests in fifths from 2024–2028; settlement generally occurs within 10 days and may be cash at the Compensation Committee’s discretion.
• Filing shows standard vesting/tax withholding, not an open-market purchase or sale.

Context

• This was a vesting/settlement of RSUs, not a market purchase or discretionary sale. The $0.00 exercise price reflects typical RSU conversion (no cash exercise required), and the surrender of shares for taxes is a routine cashless withholding method.
• Such vesting items indicate compensation realization rather than a trading decision; they do not by themselves signal bullish or bearish insider sentiment.