Company: BHM
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001104659-25-026164
Chunk: 224

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 224
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Table of Contents

Class A Common Stock Repurchase Plan

On
February 13, 2024, the Company’s Board authorized a stock repurchase plan that provided for the repurchase, from time to time, of
up to an aggregate of $5 million of the Company’s outstanding shares of Class A common stock, with such repurchases to be conducted
in accordance with the requirements of Rule 10b-18 of the Securities Exchange Act of 1934 (the “Exchange Act”) and subject
to Rule 10b-5 of the Exchange Act. The repurchase plan had a term of one year and ended in February 2025. The Company made no repurchases
of its Class A common stock under the stock repurchase plan. The Board did authorize a new stock repurchase plan in late February 2025;
refer to Note 17 for further information.

Operating Partnership and Long-Term Incentive Plan Units

On
April 2, 2014, Bluerock Residential entered into the Second Amended and Restated Agreement of Limited Partnership of its Operating Partnership,
Bluerock Residential Holdings, L.P. (the “Partnership Agreement”), pursuant to which Bluerock Residential was the sole general
partner of the Operating Partnership. On September 22, 2022, the Partnership Agreement was amended by the Thirteenth Amendment thereto,
pursuant to which Bluerock Residential withdrew as the general partner of the Operating Partnership and the Company was admitted as the
sole general partner thereof. The Company may not be removed as general partner of the Operating Partnership by the limited partners with
or without cause.

The
Partnership Agreement, as amended, provides, among other things, that the Operating Partnership initially has two classes of limited partnership
interests: OP Units and LTIP Units. Certain OP units will be designated as “C-OP Units” and certain LTIP units will be designated
as “C-LTIP Units.” The Company expects that its Operating Partnership will issue OP units to limited partners, including the
Company, in exchange for capital contributions of cash or property, including in connection with the contribution of the net proceeds
of any future offering of the Company’s shares, as described above, and that the Company’s Operating Partnership will issue
LTIP units, pursuant to the BHM Incentive Plans, to persons (including its Manager, directors and employees) or entities who provide services
to the Company. In addition,