Richards Paul 4

What Happened

• Paul Richards, Chief Financial Officer (also Assistant Secretary and Treasurer) of VineBrook Homes Trust, Inc., had 1,561.5 restricted stock units (RSUs) vest on April 11, 2026. Those RSUs converted into 1,561.5 shares.
• To satisfy tax withholding, 679.737 shares were surrendered at $54.88 per share for a total withholding value of $37,304. The net shares issued to Richards were 881.763 (1,561.5 vested − 679.737 withheld).
• The filing shows the RSU-to-share conversion and the tax-withholding share disposition; this is a routine settlement of vested equity rather than an open-market purchase or sale.

Key Details

• Transaction date: April 11, 2026; Form 4 filed April 14, 2026 (filed three days after the transaction).
• Vesting/conversion: 1,561.5 RSUs converted into 1,561.5 shares (derivative/“M” code conversion).
• Tax withholding: 679.737 shares withheld at $54.88/share = $37,304 (code “F”).
• Net shares received by insider: 881.763 shares.
• Shares owned after transaction: not disclosed in the provided filing.
• Footnotes: F1 clarifies each RSU equals the right to one common share; F2 notes these RSUs were part of a 12,492-RSU grant on April 11, 2023 with staggered vesting (one-eighth each year 2024–2027, remaining half contingent on IPO or April 11, 2027). Settlement may occur in cash at the Compensation Committee’s discretion.

Context

• This was a scheduled RSU vesting and tax-withholding settlement (common practice). The withholding of shares to cover taxes is routine and does not necessarily indicate a directional bet on the stock.
• For clarity: the filing reflects conversion of derivative RSU rights into common shares and simultaneous withholding of a portion of those shares to satisfy tax liabilities.