KAVANAUGH SCOTT F 4

What Happened

• Scott F. Kavanaugh, a director of NexPoint Diversified Real Estate Trust (NXDT), had 7,813 restricted share units (RSUs) that vested on April 3, 2026 and were converted/exercised into 7,813 common shares. The filing also shows a simultaneous disposition of 7,813 shares at $0.00 (derivative).
• No cash purchase price is reported for the conversion (listed as N/A), and the disposition is reported at $0.00, indicating no sale for cash in the normal market sense.

Key Details

• Transaction date: April 3, 2026; Form 4 filed April 7, 2026 (filed within the standard two-business-day Form 4 window).
• Shares involved: 7,813 RSUs converted to 7,813 common shares; 7,813 shares reported disposed at $0.00.
• Shares owned after transaction: not specified in the filing.
• Relevant footnotes:
  • F1: Each RSU represents a contingent right to receive one common share.
  • F4: These 7,813 RSUs were granted April 3, 2025 and vested April 3, 2026; settlement generally occurs within 10 days of vesting and may be settled in cash at the Compensation Committee’s discretion.
  • F2/F3 note elective stock dividends and holdings in a defined plan for the reporting person.
• The $0.00 disposition typically reflects a net settlement or shares withheld for taxes rather than an open-market sale.

Context

• This is not a market purchase or sale for cash; it reflects the vesting/settlement of RSUs awarded previously. Such transactions are routine compensation events and do not necessarily signal a change in insider sentiment.
• For retail investors, purchases (open-market buys) often carry more interpretive weight than vesting/settlement events like this one.