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NEXPOINT DIVERSIFIED REAL ESTATE TRUST·4

Apr 7, 9:46 PM ET

DONDERO JAMES D 4

Research Summary

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Updated

NXDT President James Dondero Converts 106,276 RSUs to Shares

What Happened

  • James D. Dondero, President of NexPoint Diversified Real Estate Trust (NXDT), had restricted share units (RSUs) vest and converted into 59,360 shares on April 3, 2026 and 46,916 shares on April 4, 2026 — a total of 106,276 shares. The Form 4 records these as "exercise or conversion of derivative" (code M) with $0.00 per-share price, meaning the RSUs settled into shares rather than being purchased for cash.

Key Details

  • Transaction dates and type: Apr 3, 2026 (59,360 shares) and Apr 4, 2026 (46,916 shares); reported as derivative conversion (code M).
  • Price/value: $0.00 per share on the reported dispositions — indicates RSU settlement, not a market purchase or cash sale.
  • Shares owned after transaction: The Form 4 excerpt provided does not list a single consolidated “owned after” total; footnotes show substantial indirect holdings through entities Mr. Dondero controls (see notable footnotes below).
  • Notable footnotes:
    • F1: Each restricted share unit represents a contingent right to one common share.
    • F7 & F8: These transactions correspond to prior RSU grants (Apr 3, 2025 and Apr 4, 2023) with scheduled vesting; portions vested on Apr 3–4, 2026.
    • F2–F6: Many shares are held through entities, trusts, and custodial accounts (including holdings for a child under UTMA and entities Mr. Dondero controls). He disclaims beneficial ownership except to the extent of pecuniary interest.
  • Filing: Report filed Apr 7, 2026 (Form 4 accession 0001437749-26-011660).

Context

  • What this means: These entries reflect RSU vesting/settlement (derivative conversion), not an open-market purchase or sale. The $0.00 price indicates conversion from RSUs into ordinary shares rather than a cash purchase.
  • For investors: RSU vesting is routine compensation-related activity and doesn’t necessarily signal a buy-or-sell view by the insider. As a significant controller of related entities, Mr. Dondero’s broader ownership is largely held indirectly through funds and companies referenced in the footnotes.