Company: NREF
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001437749-25-010694
Chunk: 34

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 34
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-outstanding securities entitled to vote generally in the election of directors, subject to certain exceptions; (c) the Company closes a reorganization, merger, consolidation, significant sale or purchase of assets or other similar transaction resulting in a substantial change in its ownership or leadership, in each case which causes the persons or groups who are the beneficial owners of 35% or more of the then-outstanding shares of our common stock or the combined voting power of our then-outstanding securities entitled to vote generally in the election of directors to cease to be such beneficial owners of the entity resulting from such transaction, in substantially the same proportions of ownership as immediately prior to such transaction, as further described in the LTIP; (d) the Company’s stockholders approve its complete liquidation or dissolution; or (e) the Manager is terminated.

Cause is defined in the applicable award agreement and generally includes, among other things, a material breach by the participant of any agreement between the participant and the Company, the participant’s conviction of or plea of guilty or no contest to a felony or gross negligence or gross misconduct by the participant. Good reason is defined in the applicable award agreements and generally includes, among other things, a material diminution of duties or responsibilities, a material reduction in aggregate base salary and bonus opportunity or reassignment to another office location more than 50 miles from the current location.

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Separation Agreement with Brian Mitts

On November 11, 2024 Mr. Mitts resigned from his position as Chief Financial Officer, Executive VP-Finance, Secretary and Treasurer of the Company effective December 31, 2024 at 11:59 P.M. Central Time. In connection with his resignation, Mr. Mitts and the Company, the Manager, the Sponsor, NXRT, NREA, NXDT, NexPoint Real Estate Advisors X, L.P., VineBrook, NexPoint Real Estate Advisors V, L.P., NXHT, NexPoint Real Estate Advisors XI, L.P., NSP and NHT entered into a separation agreement, dated November 11, 2024 (the “Separation Agreement”). Pursuant to, and subject to Mr. Mitts’s compliance with the terms of, the Separation Agreement, the Sponsor will subsidize Mr. Mitts’s COBRA premium for a period of twelve months and pay two separation payments of $200,000 to Mr. Mitts, one of which was paid February 28, 2025 and the other will be paid