Richards Paul 4

What Happened

• Paul Richards, NexPoint Diversified Real Estate Trust’s Chief Financial Officer (also Executive VP‑Finance, Treasurer and Assistant Secretary), had restricted share units (RSUs) convert to common shares on April 3–4, 2026. A total of 15,365 shares were issued on conversion (9,768 on Apr 3 and 5,597 on Apr 4). To satisfy tax withholding, 8,466 shares were surrendered (4,952 on Apr 3 and 3,514 on Apr 4) at $4.43 per share, generating $21,937 and $15,567 respectively (total $37,504). The derivative conversion lines showing $0 reflect the non‑cash conversion of RSUs into shares.

Key Details

• Transaction dates and prices:
  • Apr 3, 2026: 9,768 RSUs converted; 4,952 shares withheld at $4.43 ($21,937) for taxes.
  • Apr 4, 2026: 5,597 RSUs converted; 3,514 shares withheld at $4.43 ($15,567) for taxes.
• Net shares from these vesting events: 15,365 converted − 8,466 withheld = 6,899 net shares delivered to Richards.
• Shares owned after transaction: not disclosed in the filing.
• Footnotes: RSUs represent contingent rights to one common share each. Grants: 39,069 RSUs granted Apr 3, 2025 (1/4 vested Apr 3, 2026; remaining vesting through 2029) and 22,388 RSUs granted Apr 4, 2023 (staggered vesting through 2027). Settlement generally occurs within 10 days and may be in cash at the Compensation Committee’s discretion.
• Filing timeliness: the filing is marked late (L).

Context

• This was not an open‑market sale for investment reasons but a routine tax withholding on RSU vesting (similar to a cashless exercise/settlement). Such withholding is common and does not by itself indicate insider sentiment about the stock.