Scott F. Kavanaugh (NXDT) settles 4,830 RSUs into NexPoint common shares

Rhea-AI Filing Summary

NexPoint Diversified Real Estate Trust director Scott F. Kavanaugh reported routine equity compensation activity. On June 10, 2026, he exercised 4,830 restricted share units into 4,830 common shares at $0.00 per share, following their vesting. After this exercise, he holds 26,163 common shares directly and 50,026 common shares indirectly through a benefit plan, reflecting compensation-related awards rather than open-market buying or selling.

Insider Trade Summary

Net Buyer: 4,830 shares

Net Buy 3 txns

Insider KAVANAUGH SCOTT F

Role Director

Type	Security	Shares	Price	Value
Exercise	Restricted Shares Units	4,830	$0.00	$0.00
Exercise	Common Stock	4,830	$0.00	$0.00
holding	Common Stock	--	--	--

Holdings After Transaction: Restricted Shares Units — 0 shares (Direct); Common Stock — 26,163 shares (Direct); Common Stock — 50,026 shares (Indirect, By Benefit Plan)

Footnotes (4)

1. F1. Each restricted share unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust (the "Company").
2. F2. Includes shares acquired pursuant to elective stock dividends paid on the Company's common shares.
3. F3. These shares are held in a defined plan for the benefit of the reporting person.
4. F4. On June 10, 2025, the reporting person was granted 4,830 restricted share units which vested on June 10, 2026. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

Key Figures

RSUs exercised: 4,830 units Exercise price: $0.00 per share Direct common shares after transaction: 26,163 shares +2 more

5 metrics

RSUs exercised 4,830 units Restricted share units converted into common shares on June 10, 2026

Exercise price $0.00 per share Price per common share received upon RSU settlement

Direct common shares after transaction 26,163 shares Total directly held NXDT common stock following the exercise

Indirect common shares via benefit plan 50,026 shares Shares held in a defined plan for the reporting person’s benefit

RSU grant size 4,830 units Restricted share units granted on June 10, 2025 and vested June 10, 2026

Key Terms

restricted share unit, elective stock dividends, defined plan, Compensation Committee, +1 more

5 terms

restricted share unit financial

"Each restricted share unit represents a contingent right to receive one common share"

A restricted share unit (RSU) is a promise by a company to give an employee a set number of company shares at a future date, typically after meeting time or performance conditions. For investors, RSUs matter because when they convert into actual shares they increase the number of shares outstanding (like unlocking more tickets in a game), which can dilute existing holders, and they align employee incentives with company performance, influencing behavior and long-term value.

elective stock dividends financial

"Includes shares acquired pursuant to elective stock dividends paid on the Company's common shares"

defined plan financial

"These shares are held in a defined plan for the benefit of the reporting person"

Compensation Committee financial

"Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash"

A compensation committee is a group within a company's leadership responsible for setting and reviewing how much top executives and employees are paid, including salaries, bonuses, and benefits. It matters to investors because fair and effective pay decisions can influence a company's performance, leadership motivation, and overall governance, helping ensure that the company’s management is aligned with shareholders’ interests.

derivative security financial

"Exercise or conversion of derivative security"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/16/2026 - 05:36 PM Accepted by SEC EDGAR 06/16/2026 - 05:35 PM Learn about SEC filing dates

FAQ

What did NXDT director Scott F. Kavanaugh report in this Form 4?

Scott F. Kavanaugh reported exercising 4,830 restricted share units into common stock. The transaction reflects vesting and settlement of equity compensation rather than an open-market purchase or sale, and results in increased directly held common shares.

How many NXDT shares does Scott F. Kavanaugh hold after the reported transactions?

After the reported activity, Scott F. Kavanaugh holds 26,163 common shares directly and 50,026 common shares indirectly through a benefit plan. These holdings reflect both equity compensation awards and shares accumulated, including those from elective stock dividends.

What is the size of the derivative exercise reported for NXDT?

The filing shows an exercise of 4,830 restricted share units into 4,830 common shares of NexPoint Diversified Real Estate Trust. Each restricted share unit represents a contingent right to receive one common share, and these units vested before settlement into stock.

Were the NXDT transactions open-market buys or sells by Scott F. Kavanaugh?

The transactions were not open-market buys or sells. They represent the exercise of 4,830 restricted share units and updated reporting of indirect holdings in a benefit plan, reflecting compensation-related equity rather than discretionary trading in the market.

How were Scott F. Kavanaugh’s indirect NXDT holdings reported in this Form 4?

The filing reports 50,026 common shares held indirectly in a defined plan for the benefit of Scott F. Kavanaugh. Footnotes explain these include shares acquired through elective stock dividends on the company’s common shares within that benefit plan structure.

When were the NXDT restricted share units granted and vested for this Form 4?

Footnotes state that 4,830 restricted share units were granted on June 10, 2025 and vested on June 10, 2026. Settlement generally occurs within 10 days of vesting and, at the Compensation Committee’s discretion, may be settled in cash rather than shares.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

KAVANAUGH SCOTT F

(Last) (First) (Middle)

300 CRESCENT COURT, SUITE 700

(Street)

DALLAS TEXAS 75201

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
NEXPOINT DIVERSIFIED REAL ESTATE TRUST [ NXDT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/10/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/10/2026		M		4,830	A	(1)	26,163	D
Common Stock								50,026(2)	I	By Benefit Plan(3)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Shares Units	(1)	06/10/2026		M			4,830	(4)	(4)	Common Shares	4,830	$0	0	D

Explanation of Responses:

1. Each restricted share unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust (the "Company").

2. Includes shares acquired pursuant to elective stock dividends paid on the Company's common shares.

3. These shares are held in a defined plan for the benefit of the reporting person.

4. On June 10, 2025, the reporting person was granted 4,830 restricted share units which vested on June 10, 2026. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

	/s/ Paul Richards as attorney-in-fact for Scott Kavanaugh	06/16/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)