Company: NXDT
Filing Date: 2025-04-11
Form Type: S-4
Source: 0001437749-25-011826
Chunk: 52

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-04-11
Form: S-4
Chunk 52
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 Plan. If any award granted under the 2023 Plan or the A&R 2023 Plan is cancelled or forfeited, expires or is settled for cash (in whole or in part), since such cancellation, forfeiture, expiration, or cash settlement does not result in an issuance or transfer of Old Common Shares under the A&R 2023 Plan, the Old Common Shares subject to such award shall not reduce the number of Old Common Shares available for issuance or transfer under the Overall Share Limit. The Overall Share Limit will be reduced by one Old Common Share for each profits interest unit issued pursuant to an award agreement. In addition, the following types of Old Common Shares have been issued or transferred pursuant to an award, have been deducted from the Overall Share Limit, and will not become available again for issuance or transfer under the A&R 2023 Plan: (a) Old Common Shares withheld by Old NXDT, tendered or otherwise used in payment of the exercise price of an option right; (b) Old Common Shares withheld by Old NXDT or tendered or otherwise used to satisfy tax withholding obligations; (c) Old Common Shares subject to a SAR that are not actually issued or transferred in connection with its settlement of Old Common Shares on exercise thereof; and (d) Old Common Shares that are reacquired by Old NXDT on the open market or otherwise using option rights proceeds.

Allowances for Conversion Awards and Assumed Plans

Old Common Shares issued or transferred under awards granted under the A&R 2023 Plan in substitution for or conversion of, or in connection with an assumption of, shares or share-based awards held by awardees of an entity engaging in a corporate acquisition or merger transaction with Old NXDT or any of its subsidiaries will not count against (or be added back to) the aggregate share limit or other A&R 2023 Plan limits described above (“Substitute Awards”). Additionally, shares available under certain plans that we or our subsidiaries may assume in connection with corporate transactions from another entity may be available for certain awards under the A&R 2023 Plan, under the circumstances further described in the A&R 2023 Plan, but will not count against the aggregate share limit or other A&R 2023 Plan limits described above (“Assumed Plan Awards”).

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Minimum Vesting Requirement

Notwithstanding anything else contained in this proposal to the contrary (except in the case of Substitute Awards, Assumed Plan Awards and cash incentive awards), awards that are granted under the A