Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 209

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 209
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 the pledgor’s exposure to fluctuations in the company’s stock 
 price;                                                                                                                   |

| · | strictly limit the amount                                                                                                             
 of leverage allowed on executive officer or director loans from third parties for which a portion of their holdings of company equity 
 securities have been pledged as collateral, to protect the company and its stockholders from potential risks associated with a forced 
 sale by the lender;                                                                                                                   |

| · | require audit committee                                                                                                                
 pre-certification and pre-approval prior to the entry by any executive officer or director into any proposed loan or other arrangement 
 requiring the pledging of company securities; and                                                                                      |

| · | foster and encourage our                                                                                                                
 executive officers and directors to maintain and increase their equity ownership levels well above the levels mandated by the company’s 
 Stock Ownership Guidelines, thereby strengthening the alignment of their economic interests in the company with those of stockholders,  
 in part by permitting them, subject to the strict leverage restrictions, pre-approval and ongoing audit committee monitoring and        
 oversight addressed above, to pledge a limited amount of their company equity to secure loans. Such limited pledging will offer them    
 access to liquidity, for purposes other than to serve as a hedge, and provide them with an alternative to the sale of such company      
 equity and the resulting, undesirable reduction in equity ownership and dilution of alignment of interests with stockholders.           |

Our board of directors will
foster and encourage high levels of equity ownership of the company’s equity securities by our executive officers and directors
in the interest of providing the strongest-possible incentive to align the interests of our executive officers and directors with those
of our stockholders. Our board of directors believes that an absolute prohibition on pledging would run counter to these objectives,
with the unintended and undesirable consequence of leaving our executive officers and directors with no means of accessing legitimate
liquidity needs, other than by the sale of their company securities holdings.

The Pledging Policy entirely
prohibits the company’s executive officers and directors from pledging, or otherwise using as collateral to secure any loan or
other obligation, any company securities that such executive officer or director is required to hold pursuant to the company’s
Stock Ownership Guidelines.

The Pledging Policy prohibits
any pledging by executive officers or directors for the purpose of hedging the pledgor’s exposure to fluctuations in the company’s
stock price.

The Pledging Policy strictly
limits pledges by our executive officers and directors, subject to audit committee oversight, to only those company securities they hold