Company: BHM
Filing Date: 2025-04-09
Form Type: 424B3
Source: 0001104659-25-033384
Chunk: 247

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-09
Form: 424B3
Chunk 247
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 LTIP Units issued to Mr. Ruddy
as part of the 2023 Annual Incentive Grant, which will vest on April 1, 2026 (the “Remaining 2023 Annual Incentive Grant Vesting
Date”), or (iii) 29,701 unvested LTIP Units issued to Mr. Ruddy as part of the 2024 Annual Incentive Grant, which will
vest ratably on each of April 30, 2026 and April 30, 2027 (collectively, the “Remaining 2024 Annual Incentive Grant Vesting
Dates”).

(9) Total
includes (i) 32,464 LTIP Units issued to Mr. MacDonald as part of the Initial Staking Grant, of which 16,232 vested on each
of November 3, 2023 and November 3, 2024, and (ii) 5,712 LTIP Units issued to Mr. MacDonald as part of the 2024 Annual
Incentive Grant, which will vest on April 30, 2025. Total does not include (i) 48,696 remaining unvested LTIP Units issued to
Mr. MacDonald in connection with the Initial Staking Grant, which will vest ratably over the Remaining Initial Staking Grant Vesting
Dates, or (ii) 11,424 unvested LTIP Units issued to Mr. MacDonald as part of the 2024 Annual Incentive Grant, which will vest
ratably over the Remaining 2024 Annual Incentive Grant Vesting Dates.

<div align='center'>125</div>

(10) Total
includes (i) 6,836 LTIP Units issued to Mr. Babb as part of the Initial Staking Grant, of which 3,418 vested on each of November 3,
2023 and November 3, 2024, (ii) 1,648 LTIP Units issued to Mr. Babb as part of the 2023 Annual Incentive Grant ,of which
824 vested on May 25, 2024 and 824 will vest on April 1, 2025, and (iii) 1,143 LTIP Units issued to Mr. Babb as part
of the 2024 Annual Incentive Grant, which will vest on April 30, 2025. Total does not include (i) 10,251 remaining unvest