Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 258

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 258
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(6) Total
includes 75,607 LTIP Units issued to Mr. Kamfar as part of the Initial Staking Grant, of which 25,203 vested on November 3,
2023, 25,202 vested on November 3, 2024, and 25,202 vested on November 3, 2025. Total does not include 50,404 remaining unvested
LTIP Units issued to Mr. Kamfar in connection with the Initial Staking Grant, which will vest ratably on an annual basis over the
Remaining Initial Staking Grant Vesting Dates.

(7) In
addition, for estate planning purposes, an irrevocable trust associated with Mr. Ruddy, of which members of Mr. Ruddy’s
immediate family are the beneficiaries and of which Mr. Ruddy is neither a trustee nor a beneficiary, holds an aggregate of 646,936
OP Units.

(8) Total
includes (i) 25,630 LTIP Units issued to Mr. Ruddy as part of the Initial Staking Grant, of which 8,544 vested on November 3,
2023, 8,543 vested on November 3, 2024, and 8,543 vested on November 3, 2025, (ii) 23,057 LTIP Units issued to Mr. Ruddy
as part of the annual long term equity incentive grant on May 25, 2023 (the “2023 Annual Incentive Grant”), of which
11,529 vested on May 25, 2024 and 11,528 vested on April 1, 2025, and (iii) 14,851 LTIP Units issued to Mr. Ruddy
as part of the 2024 annual long term equity incentive grant on April 30, 2024 (the “2024 Annual Incentive Grant”), which
vested on April 30, 2025. Total does not include (i) 17,086 remaining unvested LTIP Units issued to Mr. Ruddy in connection
with the Initial Staking Grant, which will vest ratably over the Remaining Initial Staking Grant Vesting Dates, (ii) 11,528 unvested
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