Company: NXDT
Filing Date: 2025-04-11
Form Type: S-4
Source: 0001437749-25-011826
Chunk: 191

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-04-11
Form: S-4
Chunk 191
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 distribution to New NXDT’s stockholders. Subject to the preferential rights, if any, of the holders of any other class or series of New NXDT’s stock, including the New Series A Preferred Stock and New Series B Preferred Stock, the holders of shares of our New Common Stock are also entitled to share ratably in our net assets legally available for distribution to stockholders in the event of our liquidation, dissolution or winding up, after payment of or adequate provision for all of our known debts and liabilities.

Voting

Subject to the rights of any other class or series of New NXDT’s stock and the provisions of the New NXDT Charter that restrict transfer and ownership of New NXDT stock, each outstanding share of New Common Stock entitles the holder thereof to one vote on all matters submitted to a vote of the stockholders, including the election of directors. The New NXDT Charter provides that to the extent the holders of shares of our preferred stock are entitled to vote on matters submitted to a vote of the New Common Stock, the holders of shares our preferred stock shall vote together with the common stock as a single class.

The New NXDT Charter provides that, except the Preferred Stock Trustees (defined below), the holders of the New Common Stock and New Series A Preferred Stock, voting as a single class, will elect the directors. The New NXDT Charter provides that the holders of shares of the New Series B Preferred Stock shall have no right to participate in the election of directors. Under the New NXDT Charter there is no cumulative voting in the election of directors. The New NXDT Bylaws require that each director be elected by a plurality of shares entitled to vote on the election of directors present or represented by proxy at a meeting at which a quorum is present. Consequently, other than the Preferred Stock Trustees, the holders of the New Common Stock and New Series A Preferred Stock can elect all of the directors then standing for election, and the holders of the remaining capital stock will not be able to elect any directors.

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Other Matters

Holders of shares of New Common Stock generally have no preference, conversion, exchange, sinking fund, redemption or appraisal rights and have no preemptive rights to subscribe for any of our securities. Subject to the provisions of the New NXDT Charter that restrict transfer and ownership of New Stock, all shares of New Common Stock have equal dividend, liquidation and other rights.

Under the MGCL, a Maryland corporation generally cannot dissolve, amend its charter, merge