Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 308

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 308
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 vote, all other stockholders may exercise appraisal rights. The fair value of the shares of stock as determined for purposes of these
appraisal rights may not be less than the highest price per share paid in the control share acquisition. Some of the limitations and
restrictions otherwise applicable to the exercise of dissenters’ rights do not apply in the context of a control share acquisition.

The control share acquisition
statute does not apply to shares of stock acquired in a merger, consolidation or statutory share exchange if the corporation is a party
to the transaction or to acquisitions approved or exempted by the charter or bylaws of the corporation. As permitted by the MGCL, we
have provided in our bylaws that the control share provisions of the MGCL will not apply to any acquisition by any person of shares of
our stock, but our board of directors retains the discretion to change this provision in the future.

Subtitle 8

Subtitle 8 of Title 3 of
the Maryland General Corporation Law, which we refer to as “Subtitle 8,” permits the board of directors of a Maryland corporation
with a class of equity securities registered under the Exchange Act and at least three independent directors to elect to be subject,
by provision in its charter or bylaws or a resolution of its board of directors and notwithstanding any contrary provision in its charter
or bylaws, to any or all of five provisions:

| · | A classified board; |

| · | A two-thirds vote requirement 
 for removing a director;      |

| · | A requirement that the                                      
 number of directors be fixed only by vote of the directors; |

| · | A requirement that a vacancy                                                                                                      
 on the board be filled only by the affirmative vote of a majority of remaining directors and, if the board is classified, for the 
 remainder of the full term of the class of directors in which the vacancy occurred; and                                           |

| · | A majority requirement                                                      
 for the calling of a stockholder-requested special meeting of stockholders. |

Pursuant to Subtitle 8, we
have elected that vacancies on our board of directors be filled only by the remaining directors and for the remainder of the full term
of the directorship in which the vacancy occurred. Through provisions in our charter and bylaws unrelated to Subtitle 8, we vest in our
board of directors the exclusive power to fix the number of directorships and require, unless called by the president, the chief executive
officer, the chairman of the board or our