Company: BHM
Filing Date: 2025-07-08
Form Type: DRS
Source: 0001104659-25-066400
Chunk: 411

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-07-08
Form: DRS
Chunk 411
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 of the Q4 2024 Base Management Fee and the Q4 2024 Base Salaries were fully vested upon issuance, and may convert to OP Units
upon reaching capital account equivalency with the OP Units held by the company, and may then be redeemed for cash or, at the option of
the company and after a one year holding period (including any period during which such C-LTIP Units were held), settled in shares of
the company’s Class A common stock. Each of the Manager and Messrs. Kamfar and Ruddy will be entitled to receive “distribution
equivalents” with respect to such C-LTIP Units at the time distributions are paid to the holders of the company’s Class A
common stock.

On April 1, 2025, the
company issued an aggregate of 33,087 LTIP Units to and among certain members of the executive management team of the Manager, pursuant
to the BHM Individuals Plan, as equity compensation for services provided to the Manager in such capacities for the fiscal year ended
December 31, 2024. These issuances were made in satisfaction of the Manager’s obligation to its affiliate, BREH, for compensation-related
expenses incurred by BREH in connection with its employment of the BREH Personnel, and were evidenced by LTIP Unit Vesting Agreements.
Such LTIP Units will vest ratably on an annual basis over a three-year period from April 1, 2025. Once vested, the LTIP Units may
convert to OP Units upon reaching capital account equivalency with the OP Units held by the company, and may then be redeemed for cash
or, at the company’s option and after a one year holding period (including any period during which the LTIP Units were held), settled
in shares of Class A common stock on a one-for-one basis. The issuances of such LTIP Units were made in reliance upon exemptions
from registration provided by Section 4(a)(2) of the Securities Act of 1933 and Regulation D thereunder for transactions not
involving any public offering. No general solicitation or advertising occurred in connection with the issuance and sale of these
securities. From the date of grant, the recipients will be entitled to receive distributions with respect to such LTIP Units, whether
or not vested, at the time distributions are paid to the holders of the company’s Class A common stock.

Also on April 1, 2025,
the company issued an aggregate