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Filing Details

Accession Number:: 0001437749-24-030959
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2024-10-09 16:30:23
Reporting Period:: 2022-01-19

Accepted Time:: 2024-10-09 16:30:23
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1356115	Nexpoint Diversified Real Estate Trust	NXDT	()	4

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1228922	D James Dondero	300 Crescent Court, Suite 700 Dallas TX 75201	See Remarks	Yes	Yes	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2022-01-19	2,240	$13.81	5,834	No	4	P	Indirect	As custodian of UTMA account for child 1
Common Stock	Acquisiton	2022-01-19	2,230	$13.81	5,820	No	4	P	Indirect	As custodian of UTMA account for child 2
Common Stock	Acquisiton	2022-01-19	2,240	$13.82	5,834	No	4	P	Indirect	As custodian of UTMA account for child 3
Common Stock	Acquisiton	2022-01-26	1,150	$13.70	4,328	No	4	P	Indirect	As custodian of UTMA account for child 4
Common Stock	Acquisiton	2022-08-30	1,000	$15.73	4,141	No	4	P	Indirect	As custodian of UTMA account for child 5
Common Stock	Acquisiton	2022-01-19	2,240	$13.82	5,834	No	4	P	Indirect	As custodian of UTMA account for child 6
Common Stock	Acquisiton	2024-10-07	78,922	$0.00	1,177,519	No	4	A	Indirect	See Footnote
Common Stock	Acquisiton	2024-10-07	90,502	$0.00	1,268,021	No	4	A	Indirect	See Footnote
Common Stock	Acquisiton	2024-10-07	80,930	$0.00	1,348,951	No	4	A	Indirect	See Footnote

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	As custodian of UTMA account for child 1
No	4	P	Indirect	As custodian of UTMA account for child 2
No	4	P	Indirect	As custodian of UTMA account for child 3
No	4	P	Indirect	As custodian of UTMA account for child 4
No	4	P	Indirect	As custodian of UTMA account for child 5
No	4	P	Indirect	As custodian of UTMA account for child 6
No	4	A	Indirect	See Footnote
No	4	A	Indirect	See Footnote
No	4	A	Indirect	See Footnote

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	267,614	Indirect	See Footnote
Common Stock	1,981,612	Indirect	See Footnote
Common Stock	4,416,244	Direct
Common Stock	558,126	Indirect	See Footnote
Common Stock	69,561	Indirect	By employee benefit plan

Footnotes

Includes shares received pursuant to an elective stock dividend paid on the Company's common shares on September 30, 2024.
The shares are held for one of Mr. Dondero's children, through a custodial account established pursuant to the Uniform Transfer to Minors Act ("UTMA") for which Mr. Dondero serves as custodian. Mr. Dondero disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
Under the terms of the Advisory Agreement, dated July 1, 2022, by and between NexPoint Diversified Real Estate Trust (the "Company") and NexPoint Real Estate Advisers X, L.P. (the "Adviser"), as amended by that First Amendment to Advisory Agreement dated October 25, 2022, as amended by that Second Amendment to Advisory Agreement, dated April 11, 2023 and as amended by that Third Amendment to Advisory Agreement dated July 22, 2024 (the "Advisory Agreement"), the Adviser receives payment for a portion of its monthly fees under the Advisory Agreement in common shares of the Company. Such common shares received as payment are valued at the volume-weighted average price ("VWAP") of the shares for the 10 trading days prior to the end of the month for which such fees will be paid. The Company issued 78,922.05 common shares to the Adviser as payment of its fees for the month of July at a VWAP of $6.4097 per share.
35,144 shares are held by Drugcrafters, L.P. ("Drugcrafters"), 75,732 shares are held by PCMG Trading Partners XXIII, L.P., 190,810 shares are held by Governance Re Ltd. and 1,047,264.62 shares (following the transactions described herein) are held by the Adviser. Mr. Dondero owns 75% of PCMG Trading Partners XXIII, L.P. ("PCMG") and PCMG owns 99% of Drugcrafters. Drugcrafters, PCMG, Governance Re Ltd. and the Adviser are ultimately controlled by Mr. Dondero. Mr. Dondero may be deemed to be an indirect beneficial owner of shares held by such entities. Mr. Dondero disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
Under the terms of the Advisory Agreement, the Adviser receives payment for a portion of its monthly fees under the Advisory Agreement in common shares of the Company. Such common shares received as payment are valued at the VWAP of the shares for the 10 trading days prior to the end of the month for which such fees will be paid. The Company issued 90,502.15 common shares to the Adviser as payment of its fees for the month of August at a VWAP of $5.7060 per share.
Under the terms of the Advisory Agreement, the Adviser receives payment for a portion of its monthly fees under the Advisory Agreement in common shares of the Company. Such common shares received as payment are valued at the VWAP of the shares for the 10 trading days prior to the end of the month for which such fees will be paid. The Company issued 80,929.6 common shares to the Adviser as payment of its fees for the month of September at a VWAP of $6.2507 per share.
These shares are held by The Dugaboy Investment Trust of which Mr. Dondero is the beneficiary pursuant to an employee purchase plan. Mr. Dondero disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
Includes shares acquired under a dividend reinvestment plan and shares received pursuant to an elective stock dividend paid on the Company's common shares on September 30, 2024.
1,384,722 shares are held by Highland Opportunities and Income Fund and 596,890 shares are held by Highland Global Allocation Fund. These entities are managed by NexPoint Asset Management, L.P. ("NexPoint Asset Management"), which is ultimately controlled by Mr. Dondero. Mr. Dondero may be deemed to be an indirect beneficial owner of shares held by such entities. Mr. Dondero disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
These shares are held by subsidiaries of The Dugaboy Investment Trust. Mr. Dondero disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.