Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 262

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 262
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IP Units issued to Mr. DiFranco as part of the 2024 Annual Incentive Grant, which will vest ratably over the Remaining
2024 Annual Incentive Grant Vesting Dates, or (iv) 4,136 unvested LTIP Units issued to Mr. DiFranco as part of the April 1,
2025 Annual Incentive Grant, which will vest ratably over the April 1, 2025 Annual Incentive Grant Vesting Dates.

(13) Total
includes (i) 15,378 LTIP Units issued to Mr. Emala as part of the Initial Staking Grant, of which 5,126 vested on each of November 3,
2023, November 3, 2024, and November 3, 2025, and (ii) 1,257 LTIP Units issued to Mr. Emala as part of the 2024 Annual
Incentive Grant, which vested on April 30, 2025. Total does not include (i) 10,252 remaining unvested LTIP Units issued to
Mr. Emala in connection with the Initial Staking Grant, which will vest ratably over the Remaining Initial Staking Grant Vesting
Dates, (ii) 2,513 unvested LTIP Units issued to Mr. Emala as part of the 2024 Annual Incentive Grant, which will vest ratably
over the Remaining 2024 Annual Incentive Grant Vesting Dates, or (iii) 4,136 unvested LTIP Units issued to Mr. Emala as part
of the April 1, 2025 Annual Incentive Grant, which will vest ratably over the April 1, 2025 Annual Incentive Grant Vesting
Dates.

(14) Based
on the Schedule 13G filed with the SEC on February 14, 2024. Includes holdings of a limited liability company of which Par Sanda
is Managing Member and through which Par Sanda may be deemed beneficial owner of 571,042 shares of our Class A common stock. Par
Sanda has sole voting power with respect to 571,042 shares and sole dispositive power with respect to 571,042 shares, and shared voting
and/or dispositive power with respect to no shares, in each case, of our Class A common stock. The percentage of beneficial ownership
has been adjusted to reflect our