Constantino Edward N. 4

What Happened
Edward Constantino, a director of NexPoint Diversified Real Estate Trust (NXDT), had a grant of restricted share units (RSUs) that vested on April 3, 2026. The Form 4 reports the conversion/exercise of 7,813 derivative units into common shares and a disposition of 3,906 shares to the issuer (likely to satisfy tax withholding). The filing shows no cash sale proceeds reported (prices shown as N/A or $0).

Key Details

• Transaction date: April 3, 2026 (reported on Form 4 filed April 7, 2026).
• Reported transactions:
  • Exercise/conversion of derivative (M): 7,813 shares acquired (price: N/A).
  • Disposition to issuer (D): 3,906 shares surrendered (price: N/A) — typically tax withholding.
  • Exercise/conversion (M) entry also lists 7,813 shares disposed at $0 (derivative) consistent with settlement mechanics in the footnotes.
• Prices/proceeds: No cash proceeds reported (N/A or $0 in filing).
• Shares owned after transaction: Not specified in the provided filing.
• Footnotes of note:
  • F1: Each restricted share unit represents the right to one common share.
  • F3–F4: The RSU grant of 7,813 units was originally granted April 3, 2025, vested April 3, 2026, and settlement may occur in cash (settlement generally within 10 days and may be cash at the Compensation Committee’s discretion).
• Filing timeliness: Filed April 7, 2026 for an April 3 transaction (appears timely).

Context
These entries reflect compensation-related RSU vesting and settlement mechanics (conversion of RSUs and shares withheld/surrendered), not an open-market sale. When shares are withheld or surrendered to the issuer, it is commonly to cover taxes and does not necessarily indicate a decision to sell shares on the market. For retail investors, such routine insider compensation filings are informational but are generally less informative about insider sentiment than open-market purchases or discretionary sales.