Company: NXDT
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001356115-25-000003
Chunk: 373

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 373
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 table includes the number of restricted stock units granted to its directors, officers, employees and certain key employees of the Adviser under the 2023 LTIP:Summary of GrantsMarchAprilTotal2023— 603,482 603,482 20241,033,787 — 1,033,787 Total1,033,787 603,482 1,637,269 As of December 31, 2024 and 2023, the Company had 1,438,049 and 589,906 unvested units under the 2023 LTIP, respectively.The following table includes the number of restricted share units granted, vested, forfeited and outstanding as of and for the year ended December 31, 2024:2024Number of UnitsWeighted AverageGrant Date Fair ValueOutstanding January 1, 2024589,906 $10.45 Granted1,033,787 6.10 Vested (178,859)(1)10.36 Forfeited(6,785)6.10 Outstanding December 31, 20241,438,049 $7.35 (1)Certain key employees of the Adviser elected to net the taxes owed upon the vesting against the shares issued resulting in 145,433 shares being issued as shown on the Consolidated Statement of Stockholders’ Equity.The following table contains information regarding the vesting of restricted share units under the 2023 LTIP as of December 31, 2024:Shares VestingMarchAprilTotal2025300,594 140,391 440,985 2026242,136 135,328 377,464 2027242,136 135,328 377,464 2028242,136 — 242,136 2029— — — Total1,027,002 411,047 1,438,049 For the year ended December 31, 2024 and 2023, the Company recognized approximately $3.0 million and $1.4 million, respectively, of equity-based compensation expense related to grants of restricted share units. As of December 31, 2024, the Company had recognized a liability of approximately $0.9 million related to dividends earned on restricted share units that are payable in cash upon vesting. As of December 31, 2024, total unrecognized compensation expense on restricted share units was approximately $8