James Dondero - Apr 8, 2025 Form 4 Insider Report for NEXPOINT DIVERSIFIED REAL ESTATE TRUST (NXDT)

Role: President, Director, 10%+ Owner
Signature: /s/ Paul Richards, as attorney-in-fact for James Dondero
Stock symbol: NXDT
Transactions as of: Apr 8, 2025
Transactions value $: $408,000
Form type: 4
Date filed: 4/14/2025, 07:36 PM
Previous filing: Apr 7, 2025
Next filing: Apr 15, 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NXDT	Common Stock	Purchase	$408K	+100K	+35.28%	$4.08	383K	Apr 8, 2025	See Footnote	F1
holding	NXDT	Common Stock						4.88M	Apr 8, 2025	Direct
holding	NXDT	Common Stock						1.67M	Apr 8, 2025	See Footnote	F2
holding	NXDT	Common Stock						6.24K	Apr 8, 2025	As custodian of UTMA account for child 1	F3
holding	NXDT	Common Stock						6.23K	Apr 8, 2025	As custodian of UTMA account for child 2	F3
holding	NXDT	Common Stock						6.24K	Apr 8, 2025	As custodian of UTMA account for child 3	F3
holding	NXDT	Common Stock						4.63K	Apr 8, 2025	As custodian of UTMA account for child 4	F3
holding	NXDT	Common Stock						4.43K	Apr 8, 2025	As custodian of UTMA account for child 5	F3
holding	NXDT	Common Stock						6.24K	Apr 8, 2025	As custodian of UTMA account for child 6	F3
holding	NXDT	Common Stock						2.05M	Apr 8, 2025	See Footnote	F4
holding	NXDT	Common Stock						567K	Apr 8, 2025	See Footnote	F5
holding	NXDT	Common Stock						75.4K	Apr 8, 2025	By employee benefit plan

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	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.
F2	35,935 shares are held by Drugcrafters, L.P. ("Drugcrafters"), 81,039.19 shares are held by PCMG Trading Partners XXIII, L.P., 198,980 shares are held by Governance Re Ltd. and 1,356,532.24 shares are held by NexPoint Real Estate Advisers X, L.P. (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.
F3	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.
F4	1,444,014 shares are held by Highland Opportunities and Income Fund and 606,269 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.
F5	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.

Remarks:

President