Constantino Edward N. 4

What Happened Edward N. Constantino, a director of NexPoint Real Estate Finance, Inc. (NREF), reported compensation-related derivative transactions. On April 2, 2026 he was granted 6,154 restricted stock units (RSUs) (no cash paid). On April 3, 2026 a prior RSU award of 5,518 units vested and was converted/exercised into shares; 2,759 of those shares were disposed to the issuer (settled/surrendered, per the filing and footnotes) and the vested award or portion settled in cash. All amounts are reported at $0.00 (typical for RSU grants/conversions).

Key Details

• Transaction dates: RSU grant on 2026-04-02 (6,154 RSUs); vesting/conversion on 2026-04-03 (5,518 RSUs); disposition to issuer on 2026-04-03 (2,759 shares).
• Transaction codes: A = award/grant (6,154 RSUs); M = exercise/conversion of derivative (5,518 RSUs); D = disposition to issuer (2,759 shares).
• Prices/values: reported at $0.00 or N/A — these were RSU awards/settlements, not open-market purchases/sales for cash proceeds.
• Footnotes: F1 = each RSU converts to one share; F2 = portion of previously reported RSU grant vested on 4/3/2026 and settled in cash; F3/F4 describe the 4/2/2026 grant (vests 4/2/2027, may be settled in cash) and the 4/3/2025 grant (vested 4/3/2026).
• Shares owned after transaction: not specified in this Form 4 filing.
• Timeliness: Filing dated 2026-04-06 appears timely given the reported transaction dates.

Context These transactions are routine compensation actions: RSU grants and the vesting/settlement of previously awarded RSUs. The disposition to the issuer typically represents shares surrendered to cover tax withholding or to settle in cash (as noted in the footnotes), not an open-market sale indicating an investment view. For retail investors, purchases are often more informative about insider sentiment; this filing documents compensation-related conversion/settlement rather than a buy or intentional sale.