Company: NREF
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001786248-25-000010
Chunk: 184

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 6
Chunk 184
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:2025Number of UnitsWeighted AverageGrant Date Fair ValueOutstanding December 31, 2024920,076 $15.81 Granted— 14.66 Vested(249,902)(1)17.11 Forfeited— 14.66 Outstanding March 31, 2025670,174 $15.33 (1)Certain key employees of the Manager elected to net the taxes owed upon vesting against the shares issued resulting in 182,397 shares being issued as shown on the consolidated statements of stockholders' equity.The vesting schedule for the restricted stock units as of March 31, 2025 is as follows: Shares VestingFebruaryMarchAprilTotal2025——102,201102,201202654,893110,25091,166256,3092027—110,24891,168201,4162028—110,248—110,248Total54,893330,746284,535670,174As of March 31, 2025, total unrecognized compensation expense on restricted stock unit awards was approximately $8.5 million, and the expense is expected to be recognized over a weighted average vesting period of 1.1 years.At-The-Market-OfferingOn March 15, 2022, the Company, the OP and the Manager entered into separate equity distribution agreements (the “Equity Distribution Agreements”) with each of Raymond James & Associates, Inc. ("Raymond James"), Keefe, Bruyette & Woods, Inc., Robert W. Baird & Co. Incorporated and Virtu Americas LLC, pursuant to which the Company could issue and sell from time to time shares of the Company's common stock and Series A Preferred Stock having an aggregate sales price of up to $100.0 million (the “ATM Program”). The Equity Distribution Agreements provided for the issuance and sale of common stock or Series A Preferred Stock by the Company through a sales agent acting as a sales agent or directly to the sales agent acting as principal for its own account at a price agreed upon at the time of sale.

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Sales of shares of common stock or Series A Preferred Stock under the ATM Program, if any,  may be made in transactions that are deemed to be “at the market” offerings, as defined in Rule 415 under the Securities Act of 1933 (the "Securities Act") including, without limitation, sales made by means of ordinary brokers' transactions on the