Company: BHM
Filing Date: 2025-04-09
Form Type: 424B3
Source: 0001104659-25-033384
Chunk: 199

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-09
Form: 424B3
Chunk 199
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 third parties for which a portion of their holdings of      
 company equity securities have been pledged as collateral, to protect the company and its stockholders from potential risks associated 
 with a forced sale by the lender;                                                                                                      |

| · | require audit                                                                                                                        
 committee pre-certification and pre-approval prior to the entry by any executive officer or director into any proposed loan or other 
 arrangement requiring the pledging of company securities; and                                                                        |

| · | foster and                                                                                                                           
 encourage our executive officers and directors to maintain and increase their equity ownership levels well above the levels mandated 
 by the company’s Stock Ownership Guidelines, thereby strengthening the alignment of their economic interests in the company          
 with those of stockholders, in part by permitting them, subject to the strict leverage restrictions, pre-approval and ongoing audit  
 committee monitoring and oversight addressed above, to pledge a limited amount of their company equity to secure loans. Such limited 
 pledging will offer them access to liquidity, for purposes other than to serve as a hedge, and provide them with an alternative to   
 the sale of such company equity and the resulting, undesirable reduction in equity ownership and dilution of alignment of interests  
 with stockholders.                                                                                                                   |

Our board of directors will
foster and encourage high levels of equity ownership of the company’s equity securities by our executive officers and directors
in the interest of providing the strongest-possible incentive to align the interests of our executive officers and directors with those
of our stockholders. Our board of directors believes that an absolute prohibition on pledging would run counter to these objectives, with
the unintended and undesirable consequence of leaving our executive officers and directors with no means of accessing legitimate liquidity
needs, other than by the sale of their company securities holdings.

<div align='center'>103</div>

The Pledging Policy entirely
prohibits the company’s executive officers and directors from pledging, or otherwise using as collateral to secure any loan or other
obligation, any company securities that such executive officer or director is required to hold pursuant to the company’s Stock Ownership
Guidelines.

The Pledging Policy prohibits
any pledging by executive officers or directors for the purpose of hedging the pledgor’s exposure to fluctuations in the company’s
stock price.

The Pledging Policy strictly
limits pledges by our executive officers and directors, subject to audit committee oversight, to only those company securities they hold
in excess of the Stock Ownership Guidelines applicable to them (such excess, to the extent pledged, the “Pledged