Company: BHM
Filing Date: 2025-07-08
Form Type: DRS
Source: 0001104659-25-066400
Chunk: 296

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-07-08
Form: DRS
Chunk 296
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 the control shares, and is to be determined as of the date of any meeting of stockholders at which the voting rights
for control shares are considered and not approved, or, if no such meeting is held, as of the date of the last control share acquisition
by the acquirer.

If voting rights for control
shares are approved at a stockholders’ meeting and the acquirer becomes entitled to vote a majority of the shares of stock entitled
to vote, all other stockholders may exercise appraisal rights. The fair value of the shares of stock as determined for purposes of these
appraisal rights may not be less than the highest price per share paid in the control share acquisition. Some of the limitations and restrictions
otherwise applicable to the exercise of dissenters’ rights do not apply in the context of a control share acquisition.

The control share acquisition
statute does not apply to shares of stock acquired in a merger, consolidation or statutory share exchange if the corporation is a party
to the transaction or to acquisitions approved or exempted by the charter or bylaws of the corporation. As permitted by the MGCL, we have
provided in our bylaws that the control share provisions of the MGCL will not apply to any acquisition by any person of shares of our
stock, but our board of directors retains the discretion to change this provision in the future.

Subtitle 8

Subtitle 8 of Title 3 of the
Maryland General Corporation Law, which we refer to as “Subtitle 8,” permits the board of directors of a Maryland corporation
with a class of equity securities registered under the Exchange Act and at least three independent directors to elect to be subject, by
provision in its charter or bylaws or a resolution of its board of directors and notwithstanding any contrary provision in its charter
or bylaws, to any or all of five provisions:

| · | A classified board; |

| · | A two-thirds vote requirement for removing a director; |

| · | A requirement that the number of directors be fixed only by vote of the directors; |

| · | A requirement that a vacancy on the board be filled only by the remaining directors and, if the board is classified, for the remainder of the full term of the class of directors in which the vacancy occurred; and |

| · | A majority requirement for the calling of a stockholder-requested special meeting of stockholders. |

Pursuant to Subtitle 8, we
have elected that vacancies on our board of directors be filled only by the