Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 259

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 259
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 Incentive Grant Vesting Date”), (iii) 29,701 unvested LTIP Units issued to Mr. Ruddy as part of the 2024
Annual Incentive Grant, which will vest ratably on each of April 30, 2026 and April 30, 2027 (collectively, the “Remaining
2024 Annual Incentive Grant Vesting Dates”), or (iv) 29,364 unvested LTIP Units issued to Mr. Ruddy as part of the annual
long term equity incentive grant on April 23, 2025 (the “April 23, 2025 Annual Incentive Grant”), which will vest
ratably on each of April 23, 2026, April 1, 2027 and April 1, 2028 (collectively, the “April 23, 2025 Annual
Incentive Grant Vesting Dates”).

(9) Total
includes (i) 48,696 LTIP Units issued to Mr. MacDonald as part of the Initial Staking Grant, of which 16,232 vested on each
of November 3, 2023, November 3, 2024, and November 3, 2025, and (ii) 5,712 LTIP Units issued to Mr. MacDonald
as part of the 2024 Annual Incentive Grant, which vested on April 30, 2025. Total does not include (i) 32,464 remaining unvested
LTIP Units issued to Mr. MacDonald in connection with the Initial Staking Grant, which will vest ratably over the Remaining Initial
Staking Grant Vesting Dates, (ii) 11,424 unvested LTIP Units issued to Mr. MacDonald as part of the 2024 Annual Incentive Grant,
which will vest ratably over the Remaining 2024 Annual Incentive Grant Vesting Dates, or (iii) 8,685 unvested LTIP Units issued
to Mr. MacDonald as part of the April 23, 2025 Annual Incentive Grant, which will vest ratably over the April 23, 2025
Annual Incentive Grant Vesting Dates.

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(10) Total
includes (i) 10,253 LTIP Units issued to Mr. Babb as part of the Initial Staking Grant, of which 3