NXDT

SEC source: 0001437749-25-011244 · rdgdoc.xml · derivative · entry 4

Sauter Dennis Charles Jr · CIK 0001803863 · See Remarks

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 4,976

Underlying: Common Shares · 2,486 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

F4 · derivative.exercise_date: On April 4, 2023, the reporting person was granted 9,950 restricted shares units. The restricted shares units vested one-fourth on April 4, 2024 and one-fourth on April 4, 2025, and will vest one-fourth on April 4, 2026 and one-fourth on April 4, 2027. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

F4 · derivative.expiration_date: On April 4, 2023, the reporting person was granted 9,950 restricted shares units. The restricted shares units vested one-fourth on April 4, 2024 and one-fourth on April 4, 2025, and will vest one-fourth on April 4, 2026 and one-fourth on April 4, 2027. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

SEC source: 0001437749-25-011244 · rdgdoc.xml · nonDerivative · entry 2

Sauter Dennis Charles Jr · CIK 0001803863 · See Remarks

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 5,072

SEC source: 0001437749-25-011244 · rdgdoc.xml · nonDerivative · entry 1

Sauter Dennis Charles Jr · CIK 0001803863 · See Remarks

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 6,065

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

F2 · balance_after: Includes shares received pursuant to elective stock dividends paid on the Company's common shares.

SEC source: 0001437749-25-011241 · rdgdoc.xml · derivative · entry 5

McGraner Matt · CIK 0001636187 · See Remarks

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 90,250

Underlying: Common Shares · 45,123 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

F3 · derivative.exercise_date: On April 4, 2023, the reporting person was granted 180,498 restricted shares units. The restricted shares units vested one-fourth on April 4, 2024 and one-fourth on April 4, 2025, and will vest one-fourth on April 4, 2026 and one-fourth on April 4, 2027. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

F3 · derivative.expiration_date: On April 4, 2023, the reporting person was granted 180,498 restricted shares units. The restricted shares units vested one-fourth on April 4, 2024 and one-fourth on April 4, 2025, and will vest one-fourth on April 4, 2026 and one-fourth on April 4, 2027. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

SEC source: 0001437749-25-011241 · rdgdoc.xml · nonDerivative · entry 2

McGraner Matt · CIK 0001636187 · See Remarks

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 161,763.4

SEC source: 0001437749-25-011241 · rdgdoc.xml · nonDerivative · entry 1

McGraner Matt · CIK 0001636187 · See Remarks

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 176,572.4

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

SEC source: 0001437749-25-011246 · rdgdoc.xml · derivative · entry 3

LAFFER ARTHUR B · CIK 0001090307 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 7,813

Underlying: Common Shares · 7,813 shares

Expires not disclosed

F4 · derivative.exercise_price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

F5 · derivative.exercise_date: On April 3, 2025, the reporting person was granted 7,813 restricted shares units which will vest on April 3, 2026. Settlement will generally occur within 30 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

F5 · derivative.expiration_date: On April 3, 2025, the reporting person was granted 7,813 restricted shares units which will vest on April 3, 2026. Settlement will generally occur within 30 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

SEC source: 0001437749-25-011243 · rdgdoc.xml · derivative · entry 5

Richards Paul · CIK 0002034963 · See Remarks

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 39,069

Underlying: Common Shares · 39,069 shares

Expires not disclosed

F4 · derivative.exercise_price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

F5 · derivative.exercise_date: On April 3, 2025, the reporting person was granted 39,069 restricted shares units. The restricted shares units will vest one-fourth on April 3, 2026, one-fourth on February 15, 2027, one-fourth on February 15, 2028 and one-fourth on February 15, 2029. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash

F5 · derivative.expiration_date: On April 3, 2025, the reporting person was granted 39,069 restricted shares units. The restricted shares units will vest one-fourth on April 3, 2026, one-fourth on February 15, 2027, one-fourth on February 15, 2028 and one-fourth on February 15, 2029. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash

SEC source: 0001437749-25-011243 · rdgdoc.xml · nonDerivative · entry 1

Richards Paul · CIK 0002034963 · See Remarks

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 91,830.1

F1 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.74 to $3.79, inclusive. The reporting person undertakes to provide to NexPoint Diversified Real Estate Trust, any security holder of NexPoint Diversified Real Estate Trust, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (1) and (3) to this Form 4.

F2 · balance_after: Includes shares received pursuant to an elective stock dividend paid on the Company's common shares.

SEC source: 0001437749-25-011242 · rdgdoc.xml · derivative · entry 5

NORRIS DUSTIN DAVID · CIK 0001617176 · See Remarks

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 46,883

Underlying: Common Shares · 46,883 shares

Expires not disclosed

F2 · derivative.exercise_price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

F4 · derivative.exercise_date: On April 3, 2025, the reporting person was granted 46,883 restricted shares units. The restricted shares units will vest one-fourth on April 3, 2026, one-fourth on February 15, 2027, one-fourth on February 15, 2028 and one-fourth on February 15, 2029. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

F4 · derivative.expiration_date: On April 3, 2025, the reporting person was granted 46,883 restricted shares units. The restricted shares units will vest one-fourth on April 3, 2026, one-fourth on February 15, 2027, one-fourth on February 15, 2028 and one-fourth on February 15, 2029. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

SEC source: 0001437749-25-011242 · rdgdoc.xml · nonDerivative · entry 1

NORRIS DUSTIN DAVID · CIK 0001617176 · See Remarks

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 183,399.02

F1 · balance_after: Includes shares received pursuant to an elective stock dividend paid on the Company's common shares.

SEC source: 0001437749-25-011247 · rdgdoc.xml · derivative · entry 1

Constantino Edward N. · CIK 0001498322 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 7,813

Underlying: Common Shares · 7,813 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

F2 · derivative.exercise_date: On April 3, 2025, the reporting person was granted 7,813 restricted shares units which will vest on April 3, 2026. Settlement will generally occur within 30 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

F2 · derivative.expiration_date: On April 3, 2025, the reporting person was granted 7,813 restricted shares units which will vest on April 3, 2026. Settlement will generally occur within 30 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

SEC source: 0001437749-25-011240 · rdgdoc.xml · derivative · entry 13

DONDERO JAMES D · CIK 0001228922 · Director · See Remarks · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 237,446

Underlying: Common Shares · 237,446 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

F8 · derivative.exercise_date: April 3, 2025, the reporting person was granted 237,446 restricted shares units. The restricted shares units will vest one-fourth on April 3, 2026, one-fourth on February 15, 2027, one-fourth on February 15, 2028 and one-fourth on February 15, 2029. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

F8 · derivative.expiration_date: April 3, 2025, the reporting person was granted 237,446 restricted shares units. The restricted shares units will vest one-fourth on April 3, 2026, one-fourth on February 15, 2027, one-fourth on February 15, 2028 and one-fourth on February 15, 2029. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

SEC source: 0001437749-25-011250 · rdgdoc.xml · derivative · entry 1

KAVANAUGH SCOTT F · CIK 0001218975 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 7,813

Underlying: Common Shares · 7,813 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

F2 · derivative.exercise_date: On April 3, 2025, the reporting person was granted 7,813 restricted shares units which will vest on April 3, 2026. Settlement will generally occur within 30 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

F2 · derivative.expiration_date: On April 3, 2025, the reporting person was granted 7,813 restricted shares units which will vest on April 3, 2026. Settlement will generally occur within 30 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

SEC source: 0001437749-25-011249 · rdgdoc.xml · derivative · entry 1

Swain Carol · CIK 0001941224 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 7,813

Underlying: Common Shares · 7,813 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

F2 · derivative.exercise_date: On April 3, 2025, the reporting person was granted 7,813 restricted shares units which will vest on April 3, 2026. Settlement will generally occur within 30 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

F2 · derivative.expiration_date: On April 3, 2025, the reporting person was granted 7,813 restricted shares units which will vest on April 3, 2026. Settlement will generally occur within 30 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

SEC source: 0001437749-25-011248 · rdgdoc.xml · derivative · entry 1

Wood Catherine D. · CIK 0001820212 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 7,813

Underlying: Common Shares · 7,813 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

F2 · derivative.exercise_date: On April 3, 2025, the reporting person was granted 7,813 restricted shares units which will vest on April 3, 2026. Settlement will generally occur within 30 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

F2 · derivative.expiration_date: On April 3, 2025, the reporting person was granted 7,813 restricted shares units which will vest on April 3, 2026. Settlement will generally occur within 30 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

SEC source: 0001437749-25-011245 · rdgdoc.xml · derivative · entry 4

Mitts Brian · CIK 0001514845 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 7,813

Underlying: Common Shares · 7,813 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

F2 · derivative.exercise_date: On April 3, 2025, the reporting person was granted 7,813 restricted shares units which will vest on April 3, 2026. Settlement will generally occur within 30 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

F2 · derivative.expiration_date: On April 3, 2025, the reporting person was granted 7,813 restricted shares units which will vest on April 3, 2026. Settlement will generally occur within 30 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

SEC source: 0001437749-25-011244 · rdgdoc.xml · derivative · entry 3

Sauter Dennis Charles Jr · CIK 0001803863 · See Remarks

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 39,069

Underlying: Common Shares · 39,069 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

F3 · derivative.exercise_date: On April 3, 2025, the reporting person was granted 39,069 restricted shares units. The restricted shares units will vest one-fourth on April 3, 2026, one-fourth on February 15, 2027, one-fourth on February 15, 2028 and one-fourth on February 15, 2029. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

F3 · derivative.expiration_date: On April 3, 2025, the reporting person was granted 39,069 restricted shares units. The restricted shares units will vest one-fourth on April 3, 2026, one-fourth on February 15, 2027, one-fourth on February 15, 2028 and one-fourth on February 15, 2029. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

SEC source: 0001437749-25-011241 · rdgdoc.xml · derivative · entry 4

McGraner Matt · CIK 0001636187 · See Remarks

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 237,446

Underlying: Common Shares · 237,446 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

F2 · derivative.exercise_date: On April 3, 2025, the reporting person was granted 237,446 restricted shares units. The restricted shares units will vest one-fourth on April 3, 2026, one-fourth on February 15, 2027, one-fourth on February 15, 2028 and one-fourth on February 15, 2029. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash

F2 · derivative.expiration_date: On April 3, 2025, the reporting person was granted 237,446 restricted shares units. The restricted shares units will vest one-fourth on April 3, 2026, one-fourth on February 15, 2027, one-fourth on February 15, 2028 and one-fourth on February 15, 2029. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash

SEC source: 0001437749-25-008643 · rdgdoc.xml · derivative · entry 3

LAFFER ARTHUR B · CIK 0001090307 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares · 11,698 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

F4 · derivative.exercise_date: On March 18, 2024, the reporting person was granted 11,698 restricted shares units which vested on March 18, 2025. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

F4 · derivative.expiration_date: On March 18, 2024, the reporting person was granted 11,698 restricted shares units which vested on March 18, 2025. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

SEC source: 0001437749-25-008643 · rdgdoc.xml · nonDerivative · entry 1

LAFFER ARTHUR B · CIK 0001090307 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 27,330

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

F2 · balance_after: Includes shares received pursuant to elective stock dividends paid on the Company's common shares.

SEC source: 0001437749-25-008637 · rdgdoc.xml · derivative · entry 3

Richards Paul · CIK 0002034963 · See Remarks

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 26,787

Underlying: Common Shares · 8,927 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

F3 · derivative.exercise_date: On March 18, 2024, the reporting person was granted 35,714 restricted shares units. The restricted shares units vested one-fourth on March 18, 2025, and will vest one-fourth on March 18, 2026, one-fourth on March 18, 2027 and one-fourth on March 18, 2028. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

F3 · derivative.expiration_date: On March 18, 2024, the reporting person was granted 35,714 restricted shares units. The restricted shares units vested one-fourth on March 18, 2025, and will vest one-fourth on March 18, 2026, one-fourth on March 18, 2027 and one-fourth on March 18, 2028. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

SEC source: 0001437749-25-008637 · rdgdoc.xml · nonDerivative · entry 2

Richards Paul · CIK 0002034963 · See Remarks

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 32,244

SEC source: 0001437749-25-008637 · rdgdoc.xml · nonDerivative · entry 1

Richards Paul · CIK 0002034963 · See Remarks

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 36,843

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

F2 · balance_after: Includes shares received pursuant to an elective stock dividend pain on the Company's common shares.

SEC source: 0001437749-25-008638 · rdgdoc.xml · derivative · entry 3

NORRIS DUSTIN DAVID · CIK 0001617176 · See Remarks

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 53,571

Underlying: Common Shares · 17,858 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

F3 · derivative.exercise_date: On March 18, 2024, the reporting person was granted 71,429 restricted shares units. The restricted shares units vested one-fourth on March 18, 2025, and will vest one-fourth on March 18, 2026, one-fourth on March 18, 2027 and one-fourth on March 18, 2028. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

F3 · derivative.expiration_date: On March 18, 2024, the reporting person was granted 71,429 restricted shares units. The restricted shares units vested one-fourth on March 18, 2025, and will vest one-fourth on March 18, 2026, one-fourth on March 18, 2027 and one-fourth on March 18, 2028. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

SEC source: 0001437749-25-008638 · rdgdoc.xml · nonDerivative · entry 1

NORRIS DUSTIN DAVID · CIK 0001617176 · See Remarks

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 126,432.78

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

F2 · balance_after: Includes shares received pursuant to an elective stock dividend paid on the Company's common shares.

SEC source: 0001437749-25-008642 · rdgdoc.xml · derivative · entry 3

Constantino Edward N. · CIK 0001498322 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares · 11,698 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

F4 · derivative.exercise_date: On March 18, 2024, the reporting person was granted 11,698 restricted shares units which vested on March 18, 2025. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

F4 · derivative.expiration_date: On March 18, 2024, the reporting person was granted 11,698 restricted shares units which vested on March 18, 2025. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

SEC source: 0001437749-25-008642 · rdgdoc.xml · nonDerivative · entry 2

Constantino Edward N. · CIK 0001498322 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 29,807

F3 · price: Represents the portion of previously reported restricted shares unit grant that vested on March 18, 2025 and settled in cash.

F2 · balance_after: Includes shares received pursuant to an elective stock dividend paid on the Company's common shares.

SEC source: 0001437749-25-008642 · rdgdoc.xml · nonDerivative · entry 1

Constantino Edward N. · CIK 0001498322 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 35,656

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

F2 · balance_after: Includes shares received pursuant to an elective stock dividend paid on the Company's common shares.

SEC source: 0001437749-25-008644 · rdgdoc.xml · derivative · entry 13

DONDERO JAMES D · CIK 0001228922 · Director · See Remarks · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 219,375

Underlying: Common Shares · 73,125 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

F8 · derivative.exercise_date: On March 18, 2024, the reporting person was granted 292,500 restricted shares units. The restricted shares units vested one-fourth on March 18, 2025, and will vest one-fourth on March 18, 2026, one-fourth on March 18, 2027 and one-fourth on March 18, 2028. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

F8 · derivative.expiration_date: On March 18, 2024, the reporting person was granted 292,500 restricted shares units. The restricted shares units vested one-fourth on March 18, 2025, and will vest one-fourth on March 18, 2026, one-fourth on March 18, 2027 and one-fourth on March 18, 2028. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

SEC source: 0001437749-25-008644 · rdgdoc.xml · nonDerivative · entry 1

DONDERO JAMES D · CIK 0001228922 · Director · See Remarks · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 4,662,277.7078

F1 · price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

SEC source: 0001437749-25-008635 · rdgdoc.xml · derivative · entry 3

KAVANAUGH SCOTT F · CIK 0001218975 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares · 11,698 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

F4 · derivative.exercise_date: On March 18, 2024, the reporting person was granted 11,698 restricted shares units which vested on March 18, 2025. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

F4 · derivative.expiration_date: On March 18, 2024, the reporting person was granted 11,698 restricted shares units which vested on March 18, 2025. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

SEC source: 0001437749-25-008635 · rdgdoc.xml · nonDerivative · entry 1

KAVANAUGH SCOTT F · CIK 0001218975 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 11,698

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

SEC source: 0001437749-25-008640 · rdgdoc.xml · derivative · entry 2

Wood Catherine D. · CIK 0001820212 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares · 11,698 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

F3 · derivative.exercise_date: On March 18, 2024, the reporting person was granted 11,698 restricted shares units which vested on March 18, 2025. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

F3 · derivative.expiration_date: On March 18, 2024, the reporting person was granted 11,698 restricted shares units which vested on March 18, 2025. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

SEC source: 0001437749-25-008640 · rdgdoc.xml · nonDerivative · entry 1

Wood Catherine D. · CIK 0001820212 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 34,081

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

F2 · balance_after: Includes shares received pursuant to elective stock dividends paid on the Company's common shares.

SEC source: 0001437749-25-008639 · rdgdoc.xml · derivative · entry 2

Swain Carol · CIK 0001941224 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares · 11,698 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

F3 · derivative.exercise_date: On March 18, 2024, the reporting person was granted 11,698 restricted shares units which vested on March 18, 2025. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

F3 · derivative.expiration_date: On March 18, 2024, the reporting person was granted 11,698 restricted shares units which vested on March 18, 2025. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

SEC source: 0001437749-25-008639 · rdgdoc.xml · nonDerivative · entry 1

Swain Carol · CIK 0001941224 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 19,585.77

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

F2 · balance_after: Includes shares received pursuant to elective stock dividends paid on the Company's common shares.

SEC source: 0001437749-25-008636 · rdgdoc.xml · derivative · entry 3

Sauter Dennis Charles Jr · CIK 0001803863 · See Remarks

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 8,037

Underlying: Common Shares · 2,677 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

F3 · derivative.exercise_date: On March 18, 2024, the reporting person was granted 10,714 restricted shares units. The restricted shares units vested one-fourth on March 18, 2025, and will vest one-fourth on March 18, 2026, one-fourth on March 18, 2027 and one-fourth on March 18, 2028. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

F3 · derivative.expiration_date: On March 18, 2024, the reporting person was granted 10,714 restricted shares units. The restricted shares units vested one-fourth on March 18, 2025, and will vest one-fourth on March 18, 2026, one-fourth on March 18, 2027 and one-fourth on March 18, 2028. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

SEC source: 0001437749-25-008636 · rdgdoc.xml · nonDerivative · entry 2

Sauter Dennis Charles Jr · CIK 0001803863 · See Remarks

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 3,532

SEC source: 0001437749-25-008636 · rdgdoc.xml · nonDerivative · entry 1

Sauter Dennis Charles Jr · CIK 0001803863 · See Remarks

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 4,448

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

F2 · balance_after: Includes shares received pursuant to elective stock dividends paid on the Company's common shares.

SEC source: 0001437749-25-008992 · rdgdoc.xml · derivative · entry 4

Mitts Brian · CIK 0001514845 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 16,071

Underlying: Common Shares · 5,358 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

F3 · derivative.exercise_date: On March 18, 2024, the reporting person was granted 21,429 restricted shares units. The restricted shares units vested one-fourth on March 18, 2025, and will vest one-fourth on March 18, 2026, one-fourth on March 18, 2027 and one-fourth on March 18, 2028. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

F3 · derivative.expiration_date: On March 18, 2024, the reporting person was granted 21,429 restricted shares units. The restricted shares units vested one-fourth on March 18, 2025, and will vest one-fourth on March 18, 2026, one-fourth on March 18, 2027 and one-fourth on March 18, 2028. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

SEC source: 0001437749-25-008992 · rdgdoc.xml · nonDerivative · entry 2

Mitts Brian · CIK 0001514845 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 21,582.96

SEC source: 0001437749-25-008992 · rdgdoc.xml · nonDerivative · entry 1

Mitts Brian · CIK 0001514845 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 24,219.96

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

F2 · balance_after: Includes shares received pursuant to elective stock dividends paid on the Company's common shares.

SEC source: 0001437749-25-009432 · rdgdoc.xml · derivative · entry 4

McGraner Matt · CIK 0001636187 · See Remarks

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 219,375

Underlying: Common Shares · 73,125 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

F3 · derivative.exercise_date: On March 18, 2024, the reporting person was granted 292,500 restricted shares units. The restricted shares units vested one-fourth on March 18, 2025, and will vest one-fourth on March 18, 2026, one-fourth on March 18, 2027 and one-fourth on March 18, 2028. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

F3 · derivative.expiration_date: On March 18, 2024, the reporting person was granted 292,500 restricted shares units. The restricted shares units vested one-fourth on March 18, 2025, and will vest one-fourth on March 18, 2026, one-fourth on March 18, 2027 and one-fourth on March 18, 2028. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.

SEC source: 0001437749-25-009432 · rdgdoc.xml · nonDerivative · entry 2

McGraner Matt · CIK 0001636187 · See Remarks

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 131,449.4

SEC source: 0001437749-25-009432 · rdgdoc.xml · nonDerivative · entry 1

McGraner Matt · CIK 0001636187 · See Remarks

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 154,332.4

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust.

F2 · balance_after: Includes shares received pursuant to elective stock dividends paid on the Company's common shares.

SEC source: 0001437749-25-002605 · rdgdoc.xml · nonDerivative · entry 3

DONDERO JAMES D · CIK 0001228922 · Director · See Remarks · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 1,628,720.59

F4 · price: 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 71,910.68 common shares to the Adviser as payment of its fees for the month of December at a VWAP of $6.9627 per share.

F5 · balance_after: Includes shares received pursuant to an elective stock dividend paid on the Company's common shares on December 31, 2024.

F2 · ownership.nature: 35,935 shares are held by Drugcrafters, L.P. ("Drugcrafters"), 77,705.36 shares are held by PCMG Trading Partners XXIII, L.P., 193,808 shares are held by Governance Re Ltd. and 1,321,272.24 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.

SEC source: 0001437749-25-002605 · rdgdoc.xml · nonDerivative · entry 2

DONDERO JAMES D · CIK 0001228922 · Director · See Remarks · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 1,556,809.91

F3 · price: 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 95,314.77 common shares to the Adviser as payment of its fees for the month of November at a VWAP of $5.3913 per share.

F2 · ownership.nature: 35,935 shares are held by Drugcrafters, L.P. ("Drugcrafters"), 77,705.36 shares are held by PCMG Trading Partners XXIII, L.P., 193,808 shares are held by Governance Re Ltd. and 1,321,272.24 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.

SEC source: 0001437749-25-002605 · rdgdoc.xml · nonDerivative · entry 1

DONDERO JAMES D · CIK 0001228922 · Director · See Remarks · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 1,461,495.14

F1 · price: 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 90,327.16 common shares to the Adviser as payment of its fees for the month of October at a VWAP of $5.5431 per share.

F2 · ownership.nature: 35,935 shares are held by Drugcrafters, L.P. ("Drugcrafters"), 77,705.36 shares are held by PCMG Trading Partners XXIII, L.P., 193,808 shares are held by Governance Re Ltd. and 1,321,272.24 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.

SEC source: 0001437749-24-030959 · rdgdoc.xml · nonDerivative · entry 9

DONDERO JAMES D · CIK 0001228922 · Director · See Remarks · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 1,348,950.62

F6 · price: 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.

F1 · balance_after: Includes shares received pursuant to an elective stock dividend paid on the Company's common shares on September 30, 2024.

F2 · ownership.nature: 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.