Wood Catherine D. 4

What Happened Catherine D. Wood, a director of NexPoint Real Estate Finance, Inc. (NREF), received a grant of 6,154 restricted stock units (RSUs) on April 2, 2026. Those RSUs were granted at $0.00 and vest on April 2, 2027. Separately, on April 3, 2026 she converted/exercised 5,518 RSUs that had been granted on April 3, 2025 and vested on April 3, 2026; the filing also shows a contemporaneous disposition of 5,518 shares tied to that conversion (reported at $0.00 in the filing). RSUs are derivative awards that represent a contingent right to receive one share each upon settlement.

Key Details

• Transactions reported: Apr 2, 2026 (grant of 6,154 RSUs at $0.00); Apr 3, 2026 (conversion/exercise of 5,518 RSUs and a reported disposition of 5,518 shares at $0.00).
• Vesting: New grant vests 4/2/2027; the converted 5,518 RSUs were from a 4/3/2025 grant that vested 4/3/2026 (per footnotes).
• Footnotes: F1 = each RSU equals a right to one share; F2 = new RSUs may settle in stock or cash within ~30 days of vesting; F3 = prior RSUs vested 4/3/2026 and settlement may be cash or stock.
• Shares owned after the transactions are not specified in the provided filing excerpt.
• Filing info: Form filed Apr 6, 2026, reporting transactions dated Apr 2–3, 2026 (filing timeliness not flagged in the provided data).

Context

• This filing mainly documents an award of new RSUs (a non-cash compensation grant) and the settlement/conversion of previously granted RSUs that just vested. The reported disposal tied to the conversion is consistent with routine settlement or tax-withholding mechanics often used when RSUs vest; the filing notes settlement may be in cash at the committee’s discretion. These transactions are typical director compensation events and do not by themselves indicate a personal trading view.