Company: BHM
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001104659-25-035097
Chunk: 56

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 56
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 each anniversary date thereafter unless earlier terminated or not renewed in accordance with the terms thereof.

The Company pays the Manager a base management fee (the “base management fee”) in an amount equal to 1.50% of the Company’s new stockholders’ equity per year, as well as an incentive fee (the “incentive fee”) with respect to each calendar quarter (or part thereof that the Management Agreement is in effect) in arrears (as such terms are defined and such fees are more fully described in the Management Agreement). The Company is also required to reimburse the Manager for certain expenses and to pay all operating expenses, except those specifically required to be borne by the Manager under the Management Agreement. Prior to the fourth quarter 2024, the Management Agreement provided that (i) the base management fee and the incentive fee would be allocated and payable as one half (50%) in limited partnership interests in the Operating Partnership known as C-LTIP Units, and the remainder payable in cash or C-LTIP Units, at the discretion of the Company’s board of directors, and (ii) the operating expense reimbursement shall be payable either in cash or C-LTIP Units, at the discretion of the Company’s board of directors. Commencing with the fourth quarter 2024, the Management Agreement provides that (i) the base management fee will be allocated and

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payable in cash, except as may otherwise be specified by written agreement of the company and the Manager with respect to payment of all or any portion thereof in C-LTIP Units, (ii) the incentive fee will be allocated and payable as one half (50%) in C-LTIP Units, and the remainder will be payable in cash or C-LTIP Units, at the discretion of the Company’s board of directors, and (iii) expense reimbursements shall be payable either in cash or C-LTIP Units, at the discretion of the Company’s board of directors. The number of C-LTIP Units payable and issued to the Manager for the base management fee, the incentive fee and expense reimbursements (if any) will be equal to the dollar amount (of the portion deemed payable in C-LTIP Units) of the fees earned or reimbursement amount, divided by the average of the closing prices of the Company’s Class A common stock for the five business days prior to issuance. For the year ended December 31, 2024, the Company recorded a base management fee of $9.