Company: NREF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001628280-25-052000
Chunk: 155

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 1A
Chunk 155
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8, 2021, the Company granted 1,201 restricted stock units to the sole member of the general partner of one of the Company’s subsidiaries, on February 21, 2022, the Company granted 264,476 restricted stock units to its officers and other employees of the Manager and 12,464 restricted stock units to its directors, on April 4, 2023, the Company granted 418,685 restricted stock units to its officers and other employees of the Manager and 21,370 restricted stock units to its directors, on March 13, 2024 the Company granted 442,666 restricted stock units to its officers and other employees of the Manager and 22,650 restricted stock units to its directors, and on April 3, 2025, the Company granted 449,664 restricted stock units to its officers and other employees of the Manager and 33,108 restricted stock units 

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to its directors. Compensation expense is recognized on a straight-line basis over the total requisite service period for the entire award. Forfeitures are recognized as they occur. The following table includes the number of restricted stock units granted, vested, forfeited and outstanding as of September 30, 2025:2025Number of UnitsWeighted AverageGrant Date Fair ValueOutstanding December 31, 2024920,076 $15.81 Granted482,772 14.66 Vested(363,852)(1)16.48 Forfeited(13,390)14.63 Outstanding September 30, 20251,025,606 $15.15 (1)Certain key employees of the Manager elected to net the taxes owed upon vesting against the shares issued resulting in 260,699 shares being issued as shown on the consolidated statements of stockholders' equity.The vesting schedule for the restricted stock units as of September 30, 2025 is as follows: Shares VestingFebruaryMarchAprilTotal202651,950105,667232,475390,0922027112,419105,66486,945305,0282028112,414105,665—218,0792029112,407——112,407Total389,190316,996319,4201,025,606As of September 30, 2025, total unrecognized compensation expense on restricted stock unit awards was approximately $12.2 million, and the expense is expected to be recognized over a weighted average vesting period