Company: BHM
Filing Date: 2025-04-07
Form Type: POS AM
Source: 0001104659-25-032524
Chunk: 202

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-07
Form: POS AM
Chunk 202
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 value of the lender’s overall collateral
package to the point of causing a default, in which case, all else being equal, the lender would not have a forced sale right at all.

The Pledging Policy simultaneously
fulfills the objectives and strategy of the board of directors to further the alignment of stockholder interests by heavily weighting
the compensation of our executive officers and directors in company equity, while recognizing their legitimate need to access liquidity
from their earned equity if desired, providing them with a method to do so without having to sell their equity to access that liquidity,
thereby reducing their ownership and diluting their alignment with stockholder interests.

Anti-Hedging Policy

Our insider trading policy
expressly prohibits the company’s directors, officers and employees from engaging in any of the following hedging transactions with
respect to any company securities at any time: short sales (including short sales “against the box”); buying or selling puts
or calls; buying financial instruments designed to hedge or offset any decrease in the market value of company securities owned by the
individual directly or indirectly, including prepaid variable forward contracts, equity swaps, collars and exchange funds; and frequent
trading to take advantage of fluctuations in share price.

Clawback Policy

Our compensation committee
has adopted a policy on the possible recoupment, or “clawback,” of Incentive Fees from our Manager. The policy will be invoked
in the event that (a) the company is required to restate its financial statements due to material noncompliance with any financial
reporting requirement under U.S. federal securities laws (whether or not based on fraud or misconduct) and the board of directors or the
compensation committee has not determined that such restatement (i) is required or permitted under GAAP in connection with the adoption
or implementation of a new accounting standard, or (ii) was caused by the company’s decision to change its accounting practice,
as permitted by applicable law, and (b) the performance measurement period with respect to such Incentive Fees includes one or more
fiscal periods affected by such restatement.

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In such event, under the terms
of the policy, our board of directors or the compensation committee will determine whether, within three (3) completed fiscal years
preceding the restatement date and any interim period, our Manager received Incentive Fees in excess of the amount to which it would otherwise
have been entitled based on the restated financial statements