Form 4 for NREF NexPoint Real Estate Finance, Inc.
Accepted 2026-01-02 00:00:00 ET · period of report 2025-12-30 · accession 0001437749-26-000154 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DI | 2026-01-02 | 2025-12-30 | NREF | DONDERO JAMES D | Pres, Dir, 10% | M - OptEx | — | -852.3K | 3.65M | -19% | — |
| DI | 2026-01-02 | 2025-12-30 | NREF | DONDERO JAMES D | Pres, Dir, 10% | M - OptEx | — | -852.3K | 0 | -100% | — |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2025-12-30 | M | D | 852,273 | — | 3,649,759 | I See Footnote | — | — | (F1) 852,273 of the Class C common units of limited partnership interest ("OP Units") in NexPoint Real Estate Finance Operating Partnership, L.P., the operating partnership (the "OP") of NexPoint Real Estate Finance, Inc. (the "Issuer") were redeemed by a wholly owned subsidiary of NexPoint Diversified Real Estate Operating Partnership, L.P. ("NXDT OP") for an equal number of shares of the Issuer's common stock in accordance with the limited partnership agreement of the OP and distributed to NXDT OP. (F2) 852,273 shares are held by NXDT OP, which is wholly owned by NexPoint Diversified Real Estate Trust, 2,100,000 shares are held by NexPoint Diversified Real Estate Trust, 281,817 shares are held by NexPoint Real Estate Strategies Fund and 415,669 shares are held by NexPoint Capital, Inc. These entities are managed or advised, directly or indirectly, by NexPoint Advisors, L.P. ("NP"). Mr. Dondero is the sole member of NP's general partner, and may be deemed to be an indirect beneficial owner of securities held by NP. Mr. Dondero disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein. |
| 2 | Derivative | Class C OP Units | 2025-12-30 | M | D | 852,273 | — | 0 | I See Footnote | — · — to — | 852,273 Common Stock | (F8) Represents OP Units in the OP, the operating partnership of the Issuer. (F1) 852,273 of the Class C common units of limited partnership interest ("OP Units") in NexPoint Real Estate Finance Operating Partnership, L.P., the operating partnership (the "OP") of NexPoint Real Estate Finance, Inc. (the "Issuer") were redeemed by a wholly owned subsidiary of NexPoint Diversified Real Estate Operating Partnership, L.P. ("NXDT OP") for an equal number of shares of the Issuer's common stock in accordance with the limited partnership agreement of the OP and distributed to NXDT OP. (F9) The OP Units are redeemable, subject to certain requirements, for cash or, at the election of the Issuer, for shares of the Issuer's common stock on a one-for-one basis. The OP Units were vested as of the date of issuance and have no expiration date. |