Sauter Dennis Charles Jr 4

What Happened

• Dennis Charles Sauter Jr., General Counsel and Secretary of NexPoint Diversified Real Estate Trust (NXDT), had restricted share units (RSUs) converted/settled on March 18, 2026. The filing shows 2,679 RSUs converted into common shares (reported as derivative exercise/conversion). To satisfy tax withholding, 1,522 shares were surrendered at an attributed price of $4.41 per share, totaling $6,712. No open-market sale of shares is reported.

Key Details

• Transaction date: March 18, 2026; Form 4 filed March 20, 2026 (appears timely).
• Conversion/exercise (code M): 2,679 RSUs converted to common shares.
• Tax withholding (code F): 1,522 shares withheld/disposed at $4.41/share = $6,712.
• A related M-line reports a 2,679-share derivative disposition at $0.00 — this reflects the RSU conversion/settlement mechanics, not a cash sale.
• Shares owned after the reported transactions are not specified in the provided filing.
• Footnotes: RSUs represent contingent rights to common shares (F1). The RSUs were granted March 18, 2024 and vest over four annual installments beginning March 18, 2025 (F3). Settlement may be in shares or, at the Compensation Committee’s discretion, cash.

Context

• This was a conversion/settlement of RSUs with shares withheld for taxes — common routine insider activity tied to compensation, not a market purchase or open-market sale. For retail investors, such tax-withholding dispositions usually do not indicate a change in the insider’s view of the company.