Company: BHM
Filing Date: 2025-04-07
Form Type: POS AM
Source: 0001104659-25-032524
Chunk: 382

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-07
Form: POS AM
Chunk 382
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 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 May 25, 2023, the
company granted (i) 141,665 LTIP Units, and (ii) 31,260 shares of Class A common stock, to the Manager as an annual long-term
equity incentive grant for the fiscal year ended December 31, 2022 (together, the “Manager Grant”) pursuant to the Bluerock
Homes Trust, Inc. 2022 Equity Incentive Plan for Entities (the “BHM Entities Plan”). Effective November 2, 2023,
for tax efficiency purposes, the Manager forfeited 83,995 unvested LTIP Units granted to the Manager in connection with the Manager Grant.
On November 3, 2023, by mutual agreement of the Manager and the company, and at the direction of the Manager, such 83,995 unvested
LTIP Units were issued directly to and among certain of the BREH Personnel, pursuant to the BHM Individuals Plan, as equity compensation
for services provided to the Manager in such capacities. 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 one-third on May 25, 2024, and the remainder will vest ratably
on an annual basis over a two-year period from April 1, 2024. 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 option of the company and after
a one year holding period (including any period during which the LTIP Units were held), settled in shares of the company’s Class A
common stock on a one-for-one basis. Such LTIP Units are evidenced by LTIP Unit Vesting Agreements, and the shares of Class A common
stock issued as a portion of the Manager Grant are evidenced by a Restricted Stock Vesting Agreement. The issuances of such LTIP
Units and shares of Class A common stock were made in reliance upon exemptions from registration provided by Section 4(a)(2