Company: BHM
Filing Date: 2025-07-08
Form Type: DRS
Source: 0001104659-25-066400
Chunk: 248

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-07-08
Form: DRS
Chunk 248
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4 Annual Incentive Grant”), which vested on April 30, 2025. Total
does not include (i) 25,629 remaining unvested LTIP Units issued to Mr. Ruddy in connection with the Initial Staking Grant,
which will vest ratably over the Remaining Initial Staking Grant Vesting Dates, (ii) 11,528 unvested LTIP Units issued to Mr. Ruddy
as part of the 2023 Annual Incentive Grant, which will vest on April 1, 2026 (the “Remaining 2023 Annual 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”).

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(9) Total
includes (i) 32,464 LTIP Units issued to Mr. MacDonald as part of the Initial Staking Grant, of which 16,232 vested on each
of November 3, 2023 and November 3, 2024, 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) 48,696 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