McGraner Matt 4

What Happened

• Matt McGraner, Executive Vice President and Chief Investment Officer of NexPoint Real Estate Finance, was granted 197,789 restricted stock units (RSUs) on April 2, 2026.
• On April 3 and April 4, 2026, conversion/exercise events occurred (36,830 and 32,010 shares respectively). To cover tax withholding, 17,638 shares (4/3) and 18,776 shares (4/4) were surrendered/sold at $13.36 per share, generating $235,644 and $250,847 respectively — $486,491 total. Transaction codes: A = award/grant; M = exercise/conversion of derivative; F = shares withheld/paid for taxes.

Key Details

• Transaction dates & prices:
  • 4/2/2026: Grant of 197,789 RSUs (value recorded as $0 in Form 4; actual taxable value determined by company policy).
  • 4/3/2026: Conversion/exercise of 36,830 derivative units; 17,638 shares withheld at $13.36 each ($235,644).
  • 4/4/2026: Conversion/exercise of 32,010 derivative units; 18,776 shares withheld at $13.36 each ($250,847).
• Total shares withheld/sold for taxes: 36,414; total cash generated: $486,491.
• Shares owned after the transactions: Not specified in the filing excerpt — see the full Form 4 for post-transaction beneficial ownership.
• Notable footnotes:
  • F1: Each RSU represents a contingent right to one common share.
  • F3–F5: Vesting schedules — the April 2, 2026 RSUs vest in four equal tranches between 4/2/2027 and 2/15/2030; earlier RSU grants have staggered vesting dates.
  • F2: Some shares are held by an LLC in which Mr. McGraner has an indirect minority interest; he disclaims beneficial ownership except to the extent of pecuniary interest.
• Filing timeliness: Form 4 was filed on 2026-04-06 covering transactions through 4/04/2026; the filing appears to have been submitted promptly.

Context

• These transactions are primarily a compensation event (new RSU grant) and related conversion/settlement activity, not open-market purchases. The F-code disposals reflect shares withheld or surrendered to cover tax obligations (common with RSU vesting), not a discretionary sale signaling sentiment.
• The RSUs may be settled in shares or, at the Compensation Committee’s discretion, in cash; vesting schedules mean most of the grant remains subject to future service-based vesting.