Company: BHM
Filing Date: 2025-04-09
Form Type: 424B3
Source: 0001104659-25-033384
Chunk: 206

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-09
Form: 424B3
Chunk 206
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 in the discretion of the administrator. A participant may not sell or dispose of more than
fifty percent of the shares acquired under a stock award before the earlier of the first anniversary of the date the stock award vests
or the date the participant is no longer employed by or providing services to us, or the Operating Partnership or our Manager. A participant
who receives a stock award will have all of the rights of a stockholder as to those shares, including, without limitation, voting rights
and the right to receive distributions; provided that if a stock award does not vest solely on the basis of continued employment or service,
dividends will be accumulated and paid only when, and to the extent that, the stock award vests. During the period when stock awards are
non-transferable or forfeitable, (i) a participant is prohibited from selling, transferring, pledging, exchanging, hypothecating
or otherwise disposing of the participant’s stock award shares, (ii) the company will retain custody of any certificates and
(iii) a participant must deliver a stock power to the company for each stock award.

The BHM Incentive Plans authorize
the grant of stock appreciation rights. A stock appreciation right provides the participant with the right to receive, upon exercise of
the stock appreciation right, a payment in cash, shares of our common stock or a combination of the two. The amount that the participant
will receive upon exercise of the stock appreciation right generally will equal the excess of the fair market value of the shares of our
common stock on the date of exercise over the shares’ fair market value on the date of grant. Stock appreciation rights will become
exercisable in accordance with terms determined by the administrator but generally will not become exercisable before the first anniversary
of the grant, except in the event of the death or disability of the holder or a change in control of the company, and further provided
that awards for up to five percent (5%) of the aggregate number of shares of our common stock authorized for issuance under the BHM Incentive
Plans may be granted or awarded without regard to the one-year minimum vesting requirement, in the discretion of the administrator. A
participant cannot sell or dispose of more than fifty percent of the shares acquired under a stock appreciation right before the earlier
of the first anniversary of the date the stock appreciation right is exercised or the date the participant is no longer employed by or
providing services to us, or the Operating Partnership or our Manager. Stock appreciation rights