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
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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*
DONDERO JAMES D

(Last) (First) (Middle)
300 CRESCENT COURT, SUITE 700

(Street)
DALLAS TX 75201

(City) (State) (Zip)
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 X 10% Owner
X Officer (give title below) Other (specify below)
See Remarks
3. Date of Earliest Transaction (Month/Day/Year)
11/01/2021
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
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 06/13/2024 P 2,387 A $4.92 2,387 I As custodian of UTMA account for child 1(1)
Common Stock 06/13/2024 P 2,387 A $4.92 2,387 I As custodian of UTMA account for child 2(1)
Common Stock 06/13/2024 P 2,387 A $4.92 2,387 I As custodian of UTMA account for child 3(1)
Common Stock 06/13/2024 P 2,387 A $4.92 2,387 I As custodian of UTMA account for child 4(1)
Common Stock 06/13/2024 P 2,387 A $4.92 2,387 I As custodian of UTMA account for child 5(1)
Common Stock 06/13/2024 P 2,387 A $4.92 2,387 I As custodian of UTMA account for child 6(1)
Common Stock 818,583.55 I See Footnote(2)
Common Stock 1,904,136 I See Footnote(3)
Common Stock 4,281,440.89(4) D
Common Stock 105,309 I See Footnote(5)
Common Stock 536,032(4) I See Footnote(6)
Common Stock 67,558.8066(6) I By employee
5.50% Series A Cumulative Preferred Shares 11/01/2021 P 3,803 A $14.36 16,807 I See Footnote(7)
5.50% Series A Cumulative Preferred Shares 11/02/2021 P 5,693 A $14.36 22,500 I See Footnote(7)
5.50% Series A Cumulative Preferred Shares 01/12/2022 P 3,117 A $14.36 25,617 I See Footnote(7)
5.50% Series A Cumulative Preferred Shares 01/13/2022 P 3,900 A $14.36 29,517 I See Footnote(7)
5.50% Series A Cumulative Preferred Shares 06/13/2024 P 325 A $15.25 325 I As custodian of UTMA account for child 1(1)
5.50% Series A Cumulative Preferred Shares 06/13/2024 P 325 A $15.25 325 I As custodian of UTMA account for child 2(1)
5.50% Series A Cumulative Preferred Shares 06/13/2024 P 325 A $15.25 325 I As custodian of UTMA account for child 3(1)
5.50% Series A Cumulative Preferred Shares 06/13/2024 P 325 A $15.25 325 I As custodian of UTMA account for child 4(1)
5.50% Series A Cumulative Preferred Shares 06/13/2024 P 325 A $15.25 325 I As custodian of UTMA account for child 5(1)
5.50% Series A Cumulative Preferred Shares 06/13/2024 P 325 A $15.25 325 I As custodian of UTMA account for child 6(1)
5.50% Series A Cumulative Preferred Shares 37,310 I See Footnote(7)
5.50% Series A Cumulative Preferred Shares 49,169 I See Footnote(8)
5.50% Series A Cumulative Preferred Shares 13,831 I See Footnote(9)
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
Explanation of Responses:
1. 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.
2. 32,082 shares are held by Drugcrafters, L.P. ("Drugcrafters"), 71,427.19 shares are held by PCMG Trading Partners XXIII, L.P., 183,351 shares are held by Governance Re Ltd. and 531,723.36 shares are held by the Adviser. Mr. Dondero owns 75% of PCMG Trading Partners XXIII, L.P. ("PCMG") and PCMG owns 99% of Drugcrafters. These entities 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.
3. 1,330,582 shares are held by Highland Opportunities and Income Fund and 573,554 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.
4. Includes shares acquired under a dividend reinvestment plan.
5. 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.
6. 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.
7. These shares are held by Drugcrafters. Mr. Dondero is the sole managing member of the general partner of Drugcrafters and may be deemed to be an indirect beneficial owner of shares held by Drugcrafters. Mr. Dondero disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
8. 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.
9. These shares are held by Highland Global Allocation Fund, which is managed by 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 NexPoint Asset Management. Mr. Dondero disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
Remarks:
President
/s/ James Dondero 06/17/2024
** 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.
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