Company: BHM
Filing Date: 2025-03-28
Form Type: POS AM
Source: 0001104659-25-029225
Chunk: 391

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-28
Form: POS AM
Chunk 391
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reimbursement obligation to BREH for payroll-related expenses in connection with the payment of base salaries for the first quarter of
2024 to each of Mr. Kamfar and Mr. Ruddy for services provided to the Manager in their respective capacities as Chief Executive
Officer and President thereof, by mutual agreement of the Manager and the company and at the direction of each of the Manager and BREH,
and in keeping with formal elections made on December 31, 2023 by each of Messrs. Kamfar and Ruddy, the company further issued
(a) 10,707 C-LTIP Units directly to Mr. Kamfar in payment of 98.4% of Mr. Kamfar’s base salary for the first quarter
of 2024, and (b) 3,482 C-LTIP Units directly to Mr. Ruddy in payment of 80.0% of Mr. Ruddy’s base salary for the
first quarter of 2024 (together, the “Q1 2024 Base Salaries”). The issuances of C-LTIP Units in payment of the Q1 2024 Base
Management Fee and the Q1 2024 Base Salaries were made in reliance upon exemptions from registration provided by Section 4(a)(2) of
the Securities Act of 1933 and Regulation D thereunder for transactions not involving any public offering. Each of the Manager and Messrs. Kamfar
and Ruddy has a substantive, pre-existing relationship with the company and is an “accredited investor” as defined in Regulation
D. No general solicitation or advertising occurred in connection with the issuance and sale of these securities. The C-LTIP Units issued
in payment of the Q1 2024 Base Management Fee and the Q1 2024 Base Salaries were fully vested upon issuance, and may convert to OP Units
upon reaching capital account equivalency with the OP Units held by the company, and may then be redeemed for cash or, at the option of
the company and after a one year holding period (including any period during which such C-LTIP Units were held), settled in shares of
the company’s Class A common stock. Each of the Manager and Messrs. Kamfar and Ruddy will be entitled to receive “distribution
equivalents” with respect to such C-LTIP Units at the time distributions are paid to the holders of the company’s Class A
common stock.

On August 8,