Company: BHM
Filing Date: 2025-04-07
Form Type: POS AM
Source: 0001104659-25-032524
Chunk: 387

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-07
Form: POS AM
Chunk 387
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 performance by the Manager of its duties and functions under the Management
Agreement during the fourth quarter of 2022 (collectively, the “Q4 2023 Reimbursable Expenses”), in each case in keeping with
the terms set forth in the Management Agreement.

Also on February 21,
2024, in satisfaction of the remainder of the company’s Q4 Base Management Fee obligation to the Manager and the Manager’s
reimbursement obligation to BREH for payroll-related expenses in connection with the payment of base salaries for the fourth quarter of
2023 to each of Mr. Kamfar and Mr. Ruddy for services provided to the Manager in their respective capacities as Chief Executive
Officer and President thereof, by mutual agreement of the Manager and the company and at the direction of each of the Manager and BREH,
and in keeping with formal elections made on December 31, 2023 by each of Messrs. Kamfar and Ruddy, the company further issued
(a) 13,661 C-LTIP Units directly to Mr. Kamfar in payment of 98.4% of Mr. Kamfar’s base salary for the fourth quarter
of 2023, and (b) 4.443 C-LTIP Units directly to Mr. Ruddy in payment of 80.0% of Mr. Ruddy’s base salary for the
fourth quarter of 2023 (together, the “Q4 2023 Base Salaries”). The issuances of C-LTIP Units in payment of the Q4 2023 Base
Management Fee, the Q4 2023 Reimbursable Expenses and the Q4 2023 Base Salaries were made in reliance upon exemptions from registration
provided by Section 4(a)(2) of the Securities Act of 1933 and Regulation D thereunder for transactions not involving any public
offering. Each of the Manager and Messrs. Kamfar and Ruddy has a substantive, pre-existing relationship with the company and is an
“accredited investor” as defined in Regulation D. No general solicitation or advertising occurred in connection with the issuance
and sale of these securities. The C-LTIP Units issued in payment of the Q4 2023 Base Management Fee the Q4 2023 Reimbursable Expenses
and the Q4 2023 Base Salaries were fully vested upon issuance, and may convert to OP Units upon reaching capital account equivalency with
the OP Units held by