KAVANAUGH SCOTT F 4

What Happened
Scott F. Kavanaugh, a director of NexPoint Diversified Real Estate Trust (NXDT), was granted 3,247 restricted share units (RSUs) on April 2, 2026. The Form 4 reports the grant as a derivative award with a reported price of $0.00 (award/grant), which reflects that this is an issued equity award rather than an open‑market purchase or sale.

Key Details

• Transaction date: April 2, 2026; Form filed April 6, 2026 (appears to be within the standard Form 4 reporting window).
• Instrument: 3,247 restricted share units (derivative award); filing shows price $0.00.
• Vesting/settlement: RSUs vest on April 2, 2027; settlement generally within 30 days of vesting and may, at the Compensation Committee’s discretion, be settled in cash (footnotes F1–F2).
• Footnote F1: Each RSU represents a contingent right to receive one common share of NexPoint.
• Shares owned after transaction: not specified in this filing.
• Filing timeliness: filed April 6 for an April 2 grant — presented as timely in this filing.

Context
This was a grant/award of RSUs (a form of deferred compensation), not an open‑market buy or sale. Such awards are routine compensation for directors and do not by themselves indicate an immediate buying or selling signal. Upon vesting, the RSUs may convert into common shares or be paid in cash per the compensation committee’s discretion.