Company: NREF
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001786248-25-000004
Chunk: 474

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 9A
Chunk 474
---
 Additionally, Series B Preferred redemptions are capped at 2% of the outstanding Series B Preferred shares per month, 5% per quarter and 20% per year. The Company maintains sufficient liquidity to pay cash to cover any redemptions up to the quarterly redemption cap. Further, it is the Company's intent to not settle Series B Preferred redemptions in shares of common stock when the Company's common stock price is below book value. 

Adjusted weighted average common shares outstanding - diluted should not be considered as an alternative to the GAAP measures. Our computation of adjusted weighted average common shares outstanding - diluted may not be comparable to adjusted weighted average common shares outstanding - diluted reported by other companies.  

Prior period EAD per diluted common share and CAD per diluted common share have not been updated to reflect this adjustment as the dilutive effect of the Series B Preferred redemptions were immaterial to prior periods.

62

Table of Contents

The following table provides a reconciliation of EAD and CAD to GAAP net income including the dilutive effect of noncontrolling interests and adjusted weighted average common shares outstanding - diluted to weighted average common shares outstanding - diluted for the years ended December 31, 2024, 2023, and 2022 (in thousands, except per share amounts):

For the Year Ended December 31,202420232022% Change 2024 - 2023% Change 2023 - 2022Net income attributable to common stockholders$17,693 $10,399 $3,234 70.1 %221.6 %Net income attributable to redeemable noncontrolling interests6,770 4,765 4,969 42.1 %(4.1)%AdjustmentsAmortization of stock-based compensation6,073 4,411 3,286 37.7 %34.2 %Provision for (reversal of) credit losses(723)4,299 — (116.8)%N/AEquity in (income) losses of equity method investments (1)3,951 2,564 — 54.1 %N/AUnrealized (gains) or losses (2)7,889 16,820 44,765 (53.1)%(62.4)%EAD$41,653 $43,258 $56,254 (3.7)%(23.1)%EAD per Diluted Common